You can still pay into a pension after taking a lump sum and it won’t cost you anything in taxes providing you do it the right way. Most modern day pensions, known as defined contribution pensions allow you to take 25% of the total pension value as a tax free lump...
The Budget 2023 was all about pensions. Whether you are contributing, withdrawing, have a defined benefit pension or a defined contribution pension there was something for everyone. What was said in the Budget 2023 After rumours the pension Lifetime Allowance...
Research from HSBC Tomorrow Master Trust has found that nearly £2 billion is being lost by pensioners when claiming their workplace pension. The reasons for this include high tax bills, penalty charges for transferring and a lack of retirement income choices. So...
If you were already planning to retire then retiring after a redundancy is the jackpot position to be in. Not only were you going to leave your job anyway but now you also get a pay-out to add to your retirement savings and make the transition into retirement...
Contributing to a pension after retirement is still perfectly possible and in fact could be very prudent in terms of your overall planning. Reducing work or stopping work all together is likely to restrict the amounts you can save so it’s important you are aware of...
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