The realm of civil service pensions stands in stark contrast to other retirement plans, as they offer an inflation-proof income that is guaranteed by taxpayers. These pensions are calculated as a percentage of either a retiree’s final or career average salary, and are adjusted annually to reflect September’s inflation figures. Last year, they increased by …
When you resume claiming your state pension payments, they will still be subject to income tax based on your current income tax rate. However, since you will no longer be working, the tax amount you owe is likely to be lower, potentially placing you in a lower tax bracket. If your only income after retiring …
According to Becky O’Connor, the director of public affairs at PensionBee, student loan repayments have long-term consequences that extend well beyond a graduate’s working life. In fact, they can persist into retirement, potentially forcing individuals to stay in employment for a longer duration. The burden of a 40-year repayment term not only encroaches upon the …
The current allocation of US equities (£99,000) is already well-suited for a growth strategy. The US market has the potential to expand beyond its AI foundation, making it an excellent source for capital growth in portfolios. To enhance diversification within Mr. Hudson’s equity holdings, a range of fund styles should be utilized, including “growth” (for …
If you’re a landlord like Callum Barnard, you may be contemplating whether it’s time to sell your property. For the past seven years, his rental home hasn’t seen any increase in value. This lack of financial security and the feeling that his money isn’t working for him has left him uncertain about what to do …
Now read: Retiring to Spain: how to navigate the country’s wealth tax Understanding French Taxation Prior to moving, it is essential for anyone planning a relocation to France to carefully consider their financial and tax situation to avoid hefty bills. It is important to note that tax-efficient investments in the UK, such as Isas and …
Graham Crossley, a pension specialist at wealth manager Quilter, has expressed concern over a troubling trend of NHS doctors retiring early, despite the tax breaks announced in the recent Budget. This trend could be exacerbated if Labour fulfills its promise to reintroduce the lifetime allowance if they win the next general election, according to Dr …
In an insightful essay on financial advice for the AP, Liz Weston of Nerdwallet highlights the discrepancy between men and women in financial literacy surveys. While women typically score lower in financial literacy, they tend to excel in what Weston calls “longevity literacy,” which refers to their understanding of how long they are likely …
Canadians are facing challenges when it comes to saving for retirement, as inflation and higher interest rates are causing many to delay their retirement plans, according to a recent survey conducted by the Healthcare of Ontario Pension Plan (HOOPP). The survey reveals that Canadians of all ages are finding it increasingly difficult to save for …
Retirement has traditionally been seen as a time to relax, indulge in hobbies, and travel the world. However, a growing number of retirees are opting to continue working in some capacity. This trend reflects a shift in how people view their careers and the role of work in their lives. Gayle and Mark Arrowood exemplify …