Retirement & Pensions

March 16, 2023
Budget 2023: Scrapping of LTA to spark pension planning review premium
Following Jeremy Hunt’s game-changing Spring Budget on Wednesday, we believe there’ll be a rush to review retirement savings plans. During his first full Budget as Chancellor, Hunt’s decision to scrap the Lifetime Allowance (LTA) will significantly ease the pension tension. The LTA is the maximum amount people can contribute to a pension – it was £1.07m before tax charges were faced. When it was originally brought in in 2006, the allowance was Read More
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December 9, 2021
70% of people aren’t saving adequately for their retirement premium
Looking back at this year’s stats, around 70% of working-age people who sought advice from deVere this year to date were not saving enough for their retirement. This is an incredibly high number. These mainly British savers, who we took on as a company over the past year, were not saving adequately in order to live a comparable lifestyle in retirement. When we first meet new clients, a comprehensive study is undertaken of their present financial situation. Read More
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June 21, 2021
Treasury eyes pensions raid, savers unaware premium
Taxes on pension contributions could increase in autumn as part of spending plans being considered by the Treasury. As such, pension savers should act now to reduce the financial impact of a possible stinging, stealthy raid on their pensions. It was announced on Monday by The Daily Telegraph that “well-placed sources” are considering various ways of raising funds to pay for the coronavirus pandemic, and are devising plans to alter the way pension contributions are Read More
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October 15, 2020
Three principles for a comfortable retirement – even in today’s world premium
It’s safe to say that the world has changed forever this year as the coronavirus crisis triggers monumental shifts in economies across the world, businesses and personal finances. However, what hasn’t changed is that we all still want a comfortable retirement with financial security, and at the age we choose. It IS still possible. The extent of the economic fallout from the COVID-19 pandemic has disrupted all aspects of our financial lives, with many Read More
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July 16, 2020
Company pensions: the perfect storm is looming premium
Company pensions are becoming more and more untenable following the decline in government bond yields and low rates. Since the Coronavirus crisis hit, the yields of government securities – in which pension funds heavily invest – have fallen considerably. Traditionally, institutional investors, like pension funds, have always invested in government bonds, as they’re broadly viewed as a safe haven. Nevertheless, we’ve seen the world change dramatically over the past Read More
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April 15, 2020
Deficits in UK final salary pensions increase by ANOTHER £10bn premium
It’s imperative that those with a final salary pension look into options to mitigate risks to their retirement savings as the coronavirus pandemic adds to the burgeoning pension deficit threat. Indeed, official stats from the Pension Protection Fund reveal the total deficit of Britain’s defined-benefit schemes rose to £135.9bn at the end of last month, up from £124.6bn recorded at the end of February. The fallout from the COVID-19 pandemic has Read More
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January 15, 2018
Carillion liquidation news should act as a wake-up call for UK pension savers premium
As we wake up to news this morning of Carillion being forced into compulsory liquidation, this should trigger alarm bells for pension savers all over the UK. Being one of the largest construction companies in the country, Carillion employs more than 20,000 people in the UK, and has several high-profile public sector contracts, but today said it has “no choice but to take steps to enter into liquidation with immediate effect”. As we wake up to news this Read More
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November 23, 2017
Pensions come out of Autumn Budget largely unscathed premium
This year’s Autumn Budget saw pensions and savings, somewhat surprisingly, left essentially untouched by the Chancellor. Philip Hammond refrained from looking to pensions to raise revenue in the 2017 Autumn Budget, which was characterised by a ‘loud silence’ in regard to this sector. This year’s Autumn Budget saw pensions and savings, somewhat surprisingly, left essentially untouched by the Chancellor. Philip Hammond refrained from looking to pensions to raise revenue Read More
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October 17, 2017
Monarch’s downfall is a warning to pension savers premium
As I recently told The Express, one of the UK’s biggest nations newspapers, the recent collapse of Monarch Airlines is a red flag that must not be ignored by individuals nearing retirement. Indeed, since one of the UK’s largest holiday airlines went bust at the beginning of this month, coupled with accusations of asset-stripping, yet another pension fund is now in question. As I recently told The Express, one of the UK’s biggest nations newspapers, the recent collapse of Read More
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January 16, 2017
80 per cent of people not saving enough for retirement premium
As much as 80 per cent of working age people, who started seeking financial advice from deVere last year, were not saving enough for their retirement. These are highly concerning stats. As much as 80 per cent of working age people, who started seeking financial advice from deVere last year, were not saving enough for their retirement. These are highly concerning stats. Read More
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January 6, 2017
Countdown to Article 50 sparks rush to transfer UK pensions overseas premium
The countdown to the triggering of Article 50, the official starting point for the UK’s exit from the EU, is leading to a surge in the overseas transfer of UK final salary pensions. The countdown to the triggering of Article 50, the official starting point for the UK’s exit from the EU, is leading to a surge in the overseas transfer of UK final salary pensions. Read More
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November 27, 2016
In support of new government QROPS rule changes premium
The government’s plans to bring the tax treatment of overseas pensions more in line with Britain’s domestic pension tax regime have my support. In Wednesday’s Autumn Statement, it was revealed that the tax regulations regarding Qualifying Recognised Overseas Pension Schemes’ (QROPS) will become more aligned with those of UK pension schemes. These latest plans suggest that QROPS will, as such, be taxed in the same manner as a UK pension for anyone who decides to return to Read More
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