state pensions

Reform pension credit, urges charity

Rebecca Atkinson — Fri, 26 Sep 2008 17:44:23 +0100

Rising prices and restricted credit is forcing more than 50% of older people to cut back on essentials such as food and heating, and pushing one in 12 into debt, Age Concern has warned.

The charity reports that 66% of pensioners are cutting back on the amount of gas and electricity they use while just over 50% are cutting back on their weekly food budget.

Should I transfer my protected rights into a SIPP?

Rebecca Atkinson — Mon, 30 Jun 2008 16:28:39 +0100

The government has confirmed changes to pension rules that will allow investors to transfer protected rights into Self Invested Personal Pensions (SIPPs) from October.

Millions of women missing out on pension income

Rebecca Atkinson — Wed, 30 Apr 2008 16:50:00 +0100

Nearly two million women could be losing out on potential pension income because of confusion over eligibility, according to research from HSBC.

Although the research shows a marked increase in the number of women taking control of their pensions over the past three years, the level of understanding of retirement planning has not improved at all.

Just over half of women surveyed aged between 18 and 60 now contribute to a pension – but of those not currently planning for retirement, nearly a third believed they were too young to do so while 22% didn’t think they could afford to prioritise pension provision.

Tax changes at a glance

Rebecca Atkinson — Mon, 07 Apr 2008 15:13:50 +0100

The new tax year has brought in a host of tax reforms. Here is the Moneywise guide to the changes impacting your personal finances this tax year.

ISAs

The most popular tax change is likely to be higher allowances for ISAs. The annual limit on saving through ISAs is now £7,200, of which up to £3,600 can be saved as cash. If you choose to invest the maximum amount in cash, then you can only invest £3,600 in stocks and shares.

Don't lose out on your state pension

Chris Thomas — Fri, 28 Mar 2008 14:43:20 +0000

It’s no secret that women get a pretty raw deal when it comes to the state pension. We need to make 39 qualifying years of national insurance contributions to be eligible for the full state pension - currently £87.30 a week - and 10 years of contributions to be eligible for just 25%. When you consider that women are more likely to take time out of work to bring up children and care for relatives, it's not surprising that just 30% of women qualify for the full basic state pension, compared with 85% of men.

It's never too early to plan for retirement

Rebecca Atkinson — Wed, 12 Dec 2007 12:43:17 +0000

Make the break and start afresh

Rebecca Atkinson — Tue, 11 Dec 2007 10:13:58 +0000

It's difficult to relate to the high-profile divorce cases in the media, with celebrities and big-money couples quibbling over a few million here and there, when the reality for most people is very different.

Back in the real world, Moneyexpert.com has found that the average divorcing couple has combined assets of just £230,000. So when this sum has to be split between two households following a divorce, with mortgages and bills to pay, kids to feed and a good standard of living to sustain, every penny counts.