How do state pension top-ups work

Please can you help a slightly confused retired teacher? I was born in February 1955. After 21 and a half years of full-time teaching in the state sector I took early retirement aged 57 in 2012 and since then have been receiving my teachers’ pension though the Teachers’ Pension Scheme. I have not had any … Read more How do state pension top-ups work

Ollie Ollerton: I would rather have my 007 watch than a pension

Former Special Forces soldier Ollie Ollerton thinks it’s not worth investing in either pensions or property because neither is the route to wealth.  Instead, Ollerton, star of Channel 4 TV show SAS: Who Dares Wins, prefers to invest in his own businesses and designer watches. He does not save into a pension and rents his … Read more Ollie Ollerton: I would rather have my 007 watch than a pension

Workers will see their health start to fail at 59 – long before they reach pension age

Workers’ health starts to fail at the age of 59 as a study reveals the nation’s divide with those in the Northeast more likely to fall ill before retirement age Employees at 50 can expect to only see an average of nine more in-shape years However, the pension age is currently 65 and will rise … Read more Workers will see their health start to fail at 59 – long before they reach pension age

A pay cut put me on basic rate income tax – how is my pension affected?

Senior staff at our firm were asked to take pay cuts of up to 20 per cent. Mine took me back into the basic rate income tax bracket.  What happens to my pension contributions on which I was benefiting from higher rate relief? Pension impact: I took a pay cut and I’m back to paying basic … Read more A pay cut put me on basic rate income tax – how is my pension affected?

Government spurns calls for full probe into underpaid state pension

Government spurns calls for full proactive effort to make payouts to women losing out out on thousands of pounds in state pension Labour urged Pensions Minister Guy Opperman to launch a full investigation  Tens of thousands of elderly women could be owed an estimated £100million  ‘Many don’t know yet to this day,’ says Shadow Pensions … Read more Government spurns calls for full probe into underpaid state pension

How do I sort my pension before it’s too late?

Many middle-aged savers face a cash-strapped old age as TWO recessions could blight their best working years: How to sort out YOUR pension now Just 5% of middle-aged workers are saving more than £750 a month  You need to put aside £800 to fund a ‘moderate’ retirement lifestyle  Many will probably go on working well … Read more How do I sort my pension before it’s too late?

Can I stop taking state pension and keep other benefits instead?

We are much worse off from losing benefits since I began drawing my state pension – can I stop taking it? Steve Webb replies By Steve Webb for This Is Money Published: 07:35 BST, 29 June 2020 | Updated: 07:35 BST, 29 June 2020 I have just started receiving my state pension. Before this my … Read more Can I stop taking state pension and keep other benefits instead?

Is it time you ditched your pricey pension plan?

Is it time you ditched your pricey pension plan for a fund supermarket? By Toby Walne, Financial Mail on Sunday Published: 21:52 BST, 27 June 2020 | Updated: 21:52 BST, 27 June 2020 Investors are using the lockdown to haul their pension savings out of expensive old-style plans – and move the money to low-cost … Read more Is it time you ditched your pricey pension plan?

How much tax will women getting state pension backpayments owe?

Heather Rogers: ‘Depending on the amount of political pressure applied via parliament, there may be an argument for not taxing these payments at all’ Heather Rogers, founder and owner of Aston Accountancy, explains what women receiving thousands of pounds in state pension arrears should tell the taxman. If you were unfortunate enough to be underpaid … Read more How much tax will women getting state pension backpayments owe?

Will women face big tax bills over state pension error?

David and Denyse Vallender: ‘It’s a monumental government blunder,’ he said after she received £21,700 The Government is being pressed not to ‘add insult to injury’ by landing women underpaid massive sums in state pension with unfair tax bills. Denyse Vallender, pictured right with husband David, was handed £21,700 due to government bungling, while Allison Clark … Read more Will women face big tax bills over state pension error?