Budget: Labour grandee warns pension tax hike rumours are ‘very worrying’ October 25, 2024 Rumours over a hike in employer national insurance contributions on pensions in next week’s Budget have been described as “very worrying” by Labour grandee David Blunkett. Blunkett, who served in Tony Blair’s cabinet as home secretary and secretary of state for work and pensions, said he would “advise strongly against” the changes in a letter [...]
Pensionbee maintains positive earnings as fintech raises cash for US growth October 24, 2024 PensionBee sustained positive adjusted earnings last quarter while the online retirement savings provider raised £20m for US expansion.
Millions pumped into anti-fraud work as DWP staff costs jump almost 200 per cent October 23, 2024 The Department for Work and Pensions has increased its anti-fraud staff costs by nearly 200 per cent since 2021, as it seeks to crackdown on fraud
Autumn Budget: Which taxes will Rachel Reeves hike? October 22, 2024 With the Autumn Budget set to be delivered in just a few days, speculation about which taxes Chancellor Rachel Reeves will opt to raise has reached fever pitch. On entering No 11 Downing Street, Reeves commissioned the Treasury to conduct a thorough spending audit, which she claimed unearthed a “fiscal black hole” of £22bn, paving [...]
Pensionbee boss reveals the secret to a successful pension October 22, 2024 Pensionbee CEO Romina Savova has revealed what she describes as the big secret behind a successful pension.
What are the biggest risks to pension saving in the Autumn Budget? October 22, 2024 Reeves faces difficult decisions at next week's Budget, but tampering risks creating more problems in the long-term, writes KPMG's Stephen Collins.
Bittersweet boost: UK state pension to rise by 4.1 per cent due to triple lock October 16, 2024 Under the pensions triple lock, the state pension rises each April in line with whichever is highest of inflation, average wage increases or 2.5 per cent.
NHS pension tax grab could see ‘return to strikes’, government warned October 9, 2024 Plans to reduce the tax-free lump sum savers can withdraw from their pension could see NHS workers mount a “return to pay unrest and strikes”, the government has been warned. Chancellor Rachel Reeves is reportedly mulling plans to cap withdrawals at £100,000 in the Budget on 30 October in a bid to shore up the [...]
Reeves mulls £100,000 cap for tax-free pension lump sum October 9, 2024 Under the current regime, most savers can take 25 per cent of their pension pot tax-free once they reach the age of 55, up to a limit of £268,275.
Pension death tax an ‘area to target’ experts say October 8, 2024 In a new report, the industry body discussed the wide range of changes to pension taxes which Reeves is rumoured to be considering ahead of the budget, warning there were "no easy solutions".