Q. I am in receipt of a final salary pension which used all of my Lifetime Allowance when I took benefits two years ago. I also have a retirement annuity policy relating to a period of self-employment in the 1980s. I put very little into it so was pleasantly surprised to find it now has a… Read more »
Q. I am a member of the University Superannuation scheme, which is changing next April. It will cost me more but the potential benefits are being reduced. I understand this is because the rising cost of pensions has meant there is a large deficit in the scheme. Is it still worth being a member or should… Read more »
Q. I noticed in the summer budget that tax relief on pension contributions for higher earners was going to be restricted, but didn’t quite understand how. Could you enlighten me please? A. Tax relief on pension contributions will be reduced from 6 April 2016 for those with adjusted earnings over £150,000 per annum. Adjusted earnings… Read more »
Q. I noticed that the Summer Budget announced last week there is going to be a fundamental review of tax relief for pension schemes. Could tax relief for pension contributions disappear altogether? A. You are right, the Government has already kicked off a fundamental review of the pension tax framework to ensure it remains fit for purpose,… Read more »
Q. My partner is putting pressure on me to make a Will but I am reluctant as solicitors are expensive and she will get everything anyway. Am I wrong? A. If you don’t have a will when you die, your money, property and possessions will be shared out according to the law instead of your wishes. This… Read more »
