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In broad terms, the Act follows an individual’s ‘journey’ in the care and support system and maps out the process of assessment, charging, establishing entitlement, care planning, and the provision of care and support. This process determines whether individuals need to pay for their own care, and in the future…
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Tags: , The Care Act 2014
Since 6th April those entering retirement have a number of options when considering how to draw an income. Below we briefly examine the main benefits and risks of the new Flexible Drawdown option: Benefits It’s a more flexible retirement option, individuals can carry on working and use pension drawdown to top…
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Tags: , Drawdown, Flexi Drawdown
166 penalty notices were issued by the Pensions Regulator to firms breaking auto enrolment regulations in the final three months of 2014. Firms were issued with £400 fixed penalty notices totalling £66,400.
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ISAs The Government will introduce an additional allowance for spouses and civil partners when an ISA saver dies, equal to the value of the holding on death. Result: ISAs can be transferred in death tax free! The Government will also increase the ISA annual subscription limits in line with CPI….
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Tags: , Tax and Allowances
What and Who From sometime between 2013 and 2017 (dependent on the size of business from largest to smallest), employers will have to automatically enrol all eligible employees in a qualifying pension scheme and make contributions to their plan. Eligible employees fit the following criteria: Are not already in a qualifying pension scheme Are aged 22 and over Are under State pension age Earn more than £10,000 per year and work in the UK When Medium employers (50 – 249 workers) April 2014 to April 2015 Small employers (49 workers or less) June 2015 to April 2017 How Much The government has set a minimum amount that must be paid into a pension scheme for eligible and non eligible jobholders.This is 8% of qualifying earnings, phase in over several years: Now – 30/09/2017 – Employers 1% Employees 1% 1/10/2017 – 30/09/2018 – Employers 2% Employees 3% 1/10/2018 onwards – Employers 3% Employees 5% Safeguarding Employees Fixed penalty of £400 to an employer, for non…
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Tags: , auto enrolment, pensions
I tend to be very cautious when I comes to money, having just retired I felt I needed some professional advice as to how to get the best out of my savings. After a first review the adviser presented a financial plan that was clear and understandable which I agreed to.
Since then I have been impressed by the communication I have with my adviser, happy to recommend.