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Pension planning 'about to get doubly attractive' as Income Tax freeze looms | Personal Finance | Finance


| UPDATED: 22:45, Fri, Mar 12, 2021
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The tax year end is approaching, and changes to Income Tax rate bands will come into effect. The Personal Allowance, for instance, will rise from the current £12,500 by 0.5 percent to £12,570. ....

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Pension schemes urged by DWP to 'fight' criminals stealing thousands from your savings


| UPDATED: 14:42, Thu, Mar 11, 2021
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Pension scheme owners have been written to by the DWP, with it being revealed today that Guy Opperman, the Parliamentary Under-Secretary for the DWP, said around 90 different schemes must begin sharing data with the industry s voluntary group, the Pension Scams Industry Group (PSIG). The DWP argued greater data sharing, used in parallel with the improved pension transfer rules in the Pension Schemes Act, will ensure savers are better protected from unscrupulous scammers. ....

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Retirement savings warning as soon-to-be retirees face pension shortfall | Personal Finance | Finance


| UPDATED: 15:53, Wed, Mar 10, 2021
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While there is a state pension age - meaning the age when a person can start getting the UK state pension - there is no longer a specific retirement age. Nevertheless, many who are nearing the typical time of life when people tend to retire have been issued a warning. ....

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Pension: Warning as lifetime allowance freeze may affect younger Britons | Personal Finance | Finance


| UPDATED: 09:25, Tue, Mar 9, 2021
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The pension lifetime allowance places a limit on the amount people are able to save into their pension pot tax-free each year. Before the policy change, Britons could expect the sum to increase by the rate of inflation each tax year. However, Chancellor Rishi Sunak made a change in last week’s Budget which means the lifetime allowance will be frozen until 2026. ....

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