Just like every other type of investment, pensions tend to fluctuate in value over time, especially during political or economic uncertainty such as the current coronavirus pandemic. This can result in a great deal of stress and anxiety, because not only did you work hard to save for your pension, it’s what you’ll be relying on to live comfortably in retirement. So what are some of the main reasons why Read More….
Month: May 2020
If you’re a self-employed individual and your work has been affected by coronavirus, you may be able to get financial help and assistance from the government. If you’ve lost out on income or had to stop working to look after someone, you could get 80 per cent of your average profits up to a maximum of £2,500 per month under the government’s Self-Employment Income Support Scheme. But what other help Read More….
It has been revealed that HM Revenue & Customs (HMRC) has refunded more than half a billion pounds in overpaid tax since the pension freedom rules were introduced in 2015. Designed to give people more control over their finances, the rules allow over-55s to withdraw money from their defined contribution pension pots as and when they want. But according to new data, the taxman has overcharged pensioners by £600.4 million Read More….