independent pension advice

July 2016

The run-up to retirement

By |July 12th, 2016|

What the over 50s do with their money once the mortgage is paid off
Britain’s over 50s are splashing their extra income they receive once they’ve paid off their mortgages on holidays, home improvements and gifts for their children, while less than one in four are using the money to top up their retirement savings, new […]

June 2016

What are Defined benefit pension schemes

By |June 13th, 2016|

Secure income for life
A defined benefit pension scheme is one where the amount paid to you is set using a formula based on how many years you’ve worked for your employer and the salary you’ve earned rather than the value of your investments. If you work or have worked for a large employer or in […]

State Pension

By |June 10th, 2016|

New rule changes
The State Pension changed on 6 April 2016. If you reached State Pension age on or after that date, you’ll now receive the new State Pension under the new rules. The aim of the new State Pension is to make it simpler to understand, but there are some complicated changeover arrangements which […]

What are Defined contribution pension schemes

By |June 6th, 2016|

Providing an income in retirement
With a defined contribution pension, you build up a pot of money that you can then use to provide an income in retirement. Unlike defined benefit schemes, which promise a specific income, the income you might get from a defined contribution scheme depends on factors including the amount you pay in, […]

Lifetime allowance

By |June 3rd, 2016|

Value of payouts from pension schemes
The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge.
The lifetime allowance for most people is £1m in the tax year 2016/17.
It applies to the total of […]

May 2016

New State Pension

By |May 20th, 2016|

How much will I get under the new State Pension?
The State Pension changed on 6 April 2016. If you reach State Pension age on or after that date, you’ll now receive the new State Pension under the new rules. The aim of the new State Pension is to make it simpler to understand, but there […]

Smoothing out your portfolio’s returns

By |May 17th, 2016|

Increasing the long-term value of your investments
It’s natural to be looking for ways to smooth out your portfolio’s returns. Investing regularly can smooth out market highs and lows over time. We at Hutt Professional have financial advisers with many years of experience who would be more than happy to help you do this.

In a fluctuating […]

Pension freedoms: one year on

By |May 12th, 2016|

What are the key reasons for shifting retirement patterns?
New pension rules which give you far greater flexibility over what you can do with your pension pot came into force on 6 April 2015, but according to Aviva’s latest Working Lives report a third of people aged over 50 who are employed in the private sector […]

April 2016

The impact of further pension changes on the horizon from this April

By |April 15th, 2016|

Pensions have been transformed by the arrival of freedom reforms on 6 April 2015 which now give much greater flexibility over what you can do with your pension pot. The new freedoms mean you can enjoy far greater choice on how you spend and generate an income from your pensions, but with further changes on the […]

February 2016

Pension credit

By |February 15th, 2016|

Cuts for people who go abroad for over a month
People who go abroad for over a month will no longer be eligible for pension credit. At present, housing benefit and pension credit recipients can go abroad for up to 13 weeks while continuing to receive payouts.

The spending review says: ‘The benefit system should not subsidise […]