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Viewing entries tagged with 'pension retirement'

Self-employed workers face pension time-bomb

Posted by MMB Finance Swindon and Gloucester on 2 May 2019

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Self-employed workers face penury in retirement, with almost two-thirds failing to save for a pension, according to a new survey. The report has revealed that 62% of self-employed people have no pension, compared with 32% of employed workers. Business owners and sole traders typically have unpredictable incomes, meaning they may not have any money to spare for pension contributions in some years, but would want to make extra in years where they turn a big profit. Others might pay a large amount into a pension using the profits from selling their business.

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What happens to your estate when you die?

Posted by MMB Finance Swindon and Gloucester on 25 March 2019

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With the majority of their wealth tied up in property, therefore one question is can your executors sell your rental property if you were a landlord? This needs to address their own demise unless they want to leave their loved ones in a right financial pickle. I only discovered recently, following the sudden death of a relative, how cruel the UK taxation system is when someone dies.

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Government gives green light to CDC pension schemes

Posted by MMB Finance Swindon and Gloucester on 19 March 2019

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The government has confirmed the launch of Collective Defined Contribution pension schemes in a new consultation. CDC schemes, which are already popular in Denmark and the Netherlands, pay out a regular income from a collective fund rather than producing an individual 'pension pot'.

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State pension changes

Posted by MMB Finance Swindon and Gloucester on 13 March 2019

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Under the new pension rules, anyone with a birthday between December 6, 1953 and January 5, 1954 has seen their state pension age rise by up to three months, and their retirement date set at March 6, 2019.

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Pension contribution hike

Posted by MMB Finance Swindon and Gloucester on 17 February 2019

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Since 2012, 10 million eligible workers have been automatically signed up to workplace pensions. From April, their contribution will rise from 3% of their salary to 5%.

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