Spring Budget 2023: Pension Lifetime Allowance abolished
In the UK spring budget of 2023, Jeremy Hunt, the Chancellor of the Exchequer, announced he would abolish the Pension Lifetime Allowance. This removal is set to benefit millions of workers who are saving for their retirement and is a welcome relief for those who were concerned that they would exceed the previous limit of...
Do you lose your pension if you get fired?
Various thoughts will fly through your mind if you’re unfortunate enough to be fired. Where will you find another job? What will you do for money? How could it affect your mental health? Even with so much going on, there’s another question that needs answering: Do you lose your pension if you get fired? What...
Lifetime Pension Allowance boost expected in the 2023 budget
According to recent reports, Chancellor Jeremy Hunt is considering an increase in the lifetime allowance for pension savings in the upcoming budget. The move is expected to encourage people to stay in work for longer and benefit millions of workers, particularly those in higher-paying jobs such as doctors and consultants. Currently, the lifetime allowance stands...
Use your pension annual allowance by 5th April for tax relief
Don't miss out on maximising your tax-efficient savings before the new fiscal year begins! With the tax year end just around the corner, it's crucial to consider all your options - and the pension annual allowance is one you may have overlooked. In this blog post, discover how to make the most of your pension...
Are contractors entitled to a pension?
Pensions can be confusing for those not in standard employment. This is the case for contractors. Even though they are familiar with managing their own money, there are still certain financial aspects that are unclear. One such aspect is if they are entitled to a pension. If you’re a contractor and wondering where you stand,...
Pensions for IT contractors
As an IT contractor, have you ever thought about pensions and your future once you reach retirement age? While you are used to balancing the books as a contractor, it is easy to overlook the financial responsibility of managing your own pension. So what are the best pensions for IT contractors? A workplace pension uses...
Pensions for limited company contractors
Do you own a limited company? If so, it is your responsibility to handle your pension. Limited company contractors don’t have an employer that can arrange all of this on their behalf. As you would expect, there are plenty of aspects you need to consider, including which funds should be used for your pension contributions,...
Do you get a pension if you are self-employed?
There are various advantages gained from going the self-employment route rather than being an employee. There’s greater flexibility, you can work your own schedule, and create a work environment that best fits your needs. However, there’s one point that many self-employed individuals wonder: do they receive a pension? Do you get a pension if you...
A pension for freelancers
Freelancers are used to using their initiative. Yet this extends beyond completing projects and filing their taxes. There’s another aspect of their professional life they have to take charge of: their pension plan. There is no workplace pension for self-employed individuals. There is no employer that is making contributions to their pension scheme. It is...
