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Stephen doesn’t exist. But if he did this would be his story of how we helped him achieve a tax free income of £35,000 per annum.. When we first met Stephen everything was great. Having just turned 55 he was looking forward to his final 10 years working for

The Department for Work and Pensions (DWP) has commissioned Ipsos MORI to carry out a survey exploring the public’s awareness and understanding of the State Pension system and, specifically, of upcoming State Pension reforms. From April 2016, the current basic and additional State Pension will be replaced by a

The latest inflation figures for the UK were published this week by the Office for National Statistics (ONS).  The main rate of inflation used in the UK is now the Consumer Prices Index (CPI). The CPI figure for the year to the end of September 2013 is 2.7% and is

There are many people who think using a Financial Planner is a waste of time and money. However, there are more and more more people working past State Pension age to ensure their standard living doesn’t suffer. The question is – would you rather continue working

You may have heard the details of the Autumn statement on Tuesday 29th November, which was slightly overshadowed in press coverage by the mass strike on Wednesday. State pension age will now increase to 67 for men and women in stages between 2026 and 2028.

The Autumn statement, delivered by the Chancellor on 29th November 2011, outlined an acceleration to the planned increase of state pension age from 66 to 67. Orginally planned between 2034 and 2036 the announcement means the increase will be implemented between 2026 and 2028. This will mean that people

With the latest inflation figures showing RPI at 5.6% pa and CPI (the governments preferred measure) sitting at 5.2% pa it easy to be startled by the headlines – inflation is currently high and well above the Bank of England’s target of 2.0%. The issue of whether the Bank of England

The inflation figures for the UK economy released on 18th October 2011 for the year ending in September 2011 have confirmed the continuing upward trend.  The Retail Prices Index (RPI) measurement is now 5.6% pa (the highest since June 1991) and up from 5.2% in August. The Consumers Prices Index

On 1st October 2011 compulsory retirement was abolished, with employers no longer able to force mandatory retirement at 65.   Employees can now work beyond this age if they wish without being forced into retirement. Although the charity Age UK have welcomed the change in legislation they still believe that age discrimination is prevalent in

From 6th April 2011, the rules governing drawdown from personally held pensions have been relaxed. In essence, if you can demonstrate ‘secure’ income of £20,000 per annum you will no longer be subject to the stringent rules on drawing funds from your personal pension savings once you have reached the

Once again pensions are in the news. The headlines proclaim the same old story…we are going to have to work longer and save more.  Is this really news anymore? This time it is the turn of ‘most’ Public Sector pension schemes – the Armed Forces, Police and Fire Service are excluded.

Do you know when you can retire?  This is different from when you want to retire. Retiring when you want is dependent on you having sufficient retirement income to support your desired lifestyle in retirement. For the average person (in their 20s, 30s or 40s) retirement at 60 or 65 is

Public sector pensions are in line for a major overhaul following a review by former Labour Cabinet minister Lord Hutton. Today he published the Independent Public Service Pension Commission Report which contains 27 recommendations in total, many of which concern the administration of the schemes.  The headline hitting recommendations for public sector employees and

State pensions are under pressure and they are creaking under the strain. The new coalition government has begun to address the problem but is it too little, too late? In 1948, when the state pension was introduced, the average life expectancy of a man was a little over 66