25% of the pension fund can be taken tax-free (known as a pension commencement lump sum), with the remainder of the fund available to be drawn as income (and taxed accordingly) on a completely flexible basis. The pension fund is crystallised (or vested). Withdrawals can be taken from th...
Reports that Australian financial planners providing advice on transferring British pensions have received support from the government's changes to tax law allowing the transfer of pensions at 15 per cent rather than marginal tax rates. M...
The UK government spent approximately 5.45 billion British pounds on pension credit in 2022/23. Following the introduction of pension credit in October 2003, expenditure on pension credit peaked in the early 2010s but has been declining since then. ...
another option is to leave your pension fund invested, and withdraw lump sums as and when you want. Known as ‘uncrystallised funds pension lump sums’, 25% of each partial withdrawal made this way will be tax-free, and the remainder will be taxed as income. ...
Govt commitment to leave pension tax relief alone would be a win Six Degrees Dec 24 2024 ‘Non-dom abolition biggest structural change sector has seen’ Investments Dec 16 2024 New head of UK to join Jupiter from Lombard Odier Property ...
Find out if you can claim a tax rebate on pension contributions, and how to get back any money you're owed. Our case study got £1,800.
From 6 April 2024 the free-standing tax charge that applies to authorised surplus payments to sponsoring employers of a registered defined benefit pension scheme will reduce from 35 percent to 25 percent. Companies which have previously been using the 35 percent rate in their financial statements to...
You are free to contribute as much as you want provided you have enough monthly pay to cover the AVC contributions. These are not deducted under salary sacrifice, but you still benefit from tax relief on these contributions. AVC’s can be used to provide cash or extra pension o...
Pension Drawdown is a flexible option for accessing your pension in retirement. You can withdraw lump sums, generate a steady income or do both, as and when you choose. You can typically withdraw up to 25% of your pension pot tax-free, whilst leaving the rest invested. This means your pe...
UK Expat Pension Specialists helping clients review and transfer their SIPPS, Q.R.O.Ps and UK Pensions into suitable pension vehicles. UK Expat pension reviews