Pensions Archives - Page 3 of 3

Dec 11 2016

Topping-Up Your State Pension

By admin National Insurance, Pensions, Potts & Co Accountancy & Business Advice News

To receive the full amount of the new state pension you need to pay national insurance contributions (NIC) for 35 complete tax years. If you were contracted out of the second state pension, or SERPS, for any part for your working life you may receive less pension than you were…

Dec 07 2016

Pension Recycling

By admin ISA, Pensions, Potts & Co Accountancy & Business Advice News

Anyone aged 55 or over can now access their pension savings built up in a money purchase (defined contribution) scheme. This access can be as a one-off lump sum payment, an annuity purchase or as flexi-access draw-down. The downside is that once you start to access your pension in this…

Oct 16 2016

Pensions Lifetime Allowance Protection

By admin Pensions

The pensions lifetime allowance was reduced to £1m from £1.25m on 6 April 2016. This threshold is tested when you start to take your pension benefits. If your pension fund value exceeds the lifetime allowance at that point, you need to pay a tax charge on the excess at 55%…

Jun 07 2016

Maximising Your State Pension

By admin Pensions, Potts & Co Accountancy & Business Advice News

To receive the full state pension you need to build up 35 qualifying years of national insurance contributions (NIC) or to receive NI credits. If you have at least 10 qualifying years but less than 35 you will receive some state pension, but not the full amount (currently £155.65 per…

Pensions

Topping-Up Your State Pension

Pension Recycling

Pensions Lifetime Allowance Protection

Maximising Your State Pension

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