Investment - Articles - JLT - Those preparing for retirement get more to think about


Mark Wood, CEO, JLT Employee Benefits, comments:“Better or worse for pensioners? This year’s reform coupled with those made last year are likely to result in a generation of impoverished pensioners.” “Before reaching for their cider, those preparing for retirement have a lot more to think about since the Chancellor sat down.

     
  1.   Combination of changes means a married couple can save £190k tax free each year
    2.  
  2.   £1,000 tax free from savings mitigates the reduction in LTA
    3.  
  3.   Abolishing 55% penal rate on pension encashment opens up new options
    4.  
  4.   Auto-enrolment opt-out rates may well jump due to higher basic rate tax threshold
    5.  
  5.   Auto-enrolment may also be undermined by first-time buyer help-to-buy ISA
    6.  
  6.   5m will need to know how to compare a lump sum today with a guaranteed income from their annuity the rest of their life.

 “For the majority regulated financial advice will be an unaffordable luxury.”
  

Back to Index


Similar News to this Story

Targeted Support major step towards addressing support gap
Targeted Support is poised to play a pivotal role for potentially millions of non-advised individuals. Non-advised could be supported with at retireme
FCA proposals for millions to navigate their financial lives
Millions more people could get help navigating their financial lives with support on pensions and investments, under proposals announced today by the
Comments on FCA proposals on navigating financial lives
Aviva, Just Group, Standard Life, Scottish Widows and the ABI comment on FCA proposals on navigating financial lives

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.