The value of lump sum mortgage repayments in the UK increased notably in 2022, reaching almost 6.5 billion British pounds in the third quarter of 2023. That includes both home purchase loans and remortgaging. Quarterly mortgage lump sum repayments (house purchase loans and remortgaging) in ...
Previously, anyone withdrawing benefits from their pension fund above the LTA of £1,073,100 (or the applicable fixed protection amount) was subject to a tax charge. This could be either 55% or 25%, depending on whether they were taking a lump sum or income. The Spring Budget in March...
Life insuranceis another important part of planning for later life. It provides alump sum to beneficiariesto cover mortgage costs, funeral arrangements and other expenses you might leave behind in the event of your death. More than two-thirds of survey participants (67%) said they had a life ...
It applies whether you’ve begun to draw an income using a drawdown plan or taken a taxable lump sum amount from your fund. It impacts the answer to the question of ‘do I have to pay tax on my savings in the UK?’ because the more you save, the more tax you may have to pay,...
Nutmeg is a UK based investment platform offering users both a mobile app and desktop system. The platform is a robo advisor and suggested to be the UK’s largest provider with a lump sum of £1.7 billion worth of funds invested for in excess of 70,000 customers. ...
Note that the PLSA expects the State Pension to do much of the heavy lifting in retirement, especially at the Minimum standard. This is why we think there’s no need to fear the State Pension beingdone away with. The social fallout of scrapping it would be catastrophic for any government....
A deferred pension is when you delay claiming your private or workplace pension. It also refers to when you delay or stop taking your state pension payments in return for a higher future payment.
I began investing 20-odd years ago with a biggish lump sum that I’d originally saved up as a house deposit. I should have steadily put this cash into ISAs over the ten years or so it took me to save it. But I was silly and I didn’t. And so when I began investing, I had ...
There is just a problem of not looking at the sum and trusting that it should be taken as real, and not theory. Just-In-Time planning. The boat isn't 'Really' sinking until my feet are wet. Then I can very quickly and clearly assess who apart from myself to blame. writerman on ...
Letting members know about small lump sum options. What do pension trustees need to know?Lisa Wright