The Labour Party has won the general election by a large margin and now everyone is waiting to see whether the party will deliver on its promises. The party made a number of promises to protect people’s pensions and improve the situation for savers if Sir Keir Starmer were given the keys to Downing Street. … Read more
The number of Britons over retirement age paying tax on their state pension has increased significantly in the past year, according to new figures published by HM Revenue and Customs (HMRC). Tax authority data shows that annual figures on the number of people paying income tax on their pension payments have risen by 660,000, from … Read more
Increases in the state pension age have contributed to a rise in the number of Brits claiming working age benefits from the Department for Work and Pensions (DWP), new research shows. The Resolution Foundation’s ‘Under Strain’ report shows that real spending on these payments has risen by a third over the past decade and disability … Read more
Pensioners in Britain risk ending up in a tax ‘nightmare’ without serious intervention from MPs, one of the country’s leading pension campaigners has said. Baroness Ros Altmann is urging the major political parties, especially the Labor Party, to reform existing tax rules to prevent older Britons from losing part of their state pension to HM … Read more
Experts are reminding Brits of the seven ‘tricks’ that could significantly boost their pension savings in the coming years. Increasing pension contributions, using ISAs and taking advantage of tax benefits, including when it comes to capital gains tax (CGT) and inheritance tax (IHT), are among the recommendations. Here’s a full list of the seven “tricks” … Read more
Lack of knowledge about the AOW means that retirees receive less AOW than they expected, an expert has warned. After the confirmation of the triple lock, the state pension rose by an inflation-breaking 8.5 percent. Since April, pensioners on the full new state pension have been getting £221.20 a week or £11,502.40 a year and … Read more