It is very common for a pension scheme such as a SIPP (Self Invested Personal Pension) or a SSAS (Small Self-Administered Scheme) to hold commercial property as part of the overall pension portfolio for both diversity and potential tax benefits. Types of Property In general only property or land that is wholly used for commercial…
DetailsWhen you come to take benefits from a pension scheme it is usual to take or receive a tax free cash sum income as follows: A tax free lump sum or Pension Commencement lump sum. This is usually up to 25% of the fund value (this is different for final salary schemes). You might use…
DetailsSome of the key areas to consider when planning for your retirement: 1. It is retirement planning, and not pension planning Under regimes of old, people were either lucky enough to be in their employer’s Defined Benefit/Final Salary pension scheme, giving them a guaranteed income for life, or they would use an invested…
Details‘Pension pot’ refers to the savings you build up in a certain type of pension known as a ‘defined contribution’ pension scheme. You and your employer (if you are employed) pay into the scheme and this builds up a ‘pot’ of money over time, which you can use to give yourself an income when you…
DetailsWhy save into a pension? The State will take care of me. Millions of people are not saving enough for retirement, believing that The State will take care of them, and that pensions are complicated. Whilst your State Pension provides a foundation, many people find that it is not enough to live on. The maximum…
DetailsPensions are our passion! Tuesday 15th September 2020 is Pension Awareness Day. Various pension providers and pension advisers will be promoting a greater awareness of pensions throughout Pensions Awareness Week (14th to 18th September 2020), and Pension Awareness Live will be running live webinars each day, via their website: https://pensionawarenessday.com. To help promote Pensions Awareness…
DetailsAt present an individual can normally access their money purchase/defined contribution pension funds from age 55, other than due to ill health or where they have a protected right to access the funds before reaching that age. In 2014 the Chancellor announced that the Government intended to increase the minimum age for accessing pension funds…
DetailsPlans to ensure that Westerby can continue to deliver a normal or near-normal service during a period of prolonged “lockdown” as a result of the Covid 19 virus, and to safeguard our employees and their families, are now fully in place and operational. This involves a significant number of staff working from home however, unless…
DetailsThe Westerby Team gathered at the Curve in Leicester for our annual staff day yesterday. A huge thanks to Alex and everyone at the Curve for hosting a fantastic day, culminating in a wonderful production of Priscilla. We were very fortunate to welcome “Adventure Man” Jamie McDonald as our guest for the day; only…
DetailsLeicester-based Westerby Group entertained their clients with a day out at the Rutland Polo Club at Langham, near Oakham (Sunday 30 June). The event included an exciting polo tournament with six teams playing to win the prestigious Westerby Assam Cup. The Westerby Group attended the event as sponsors of the Cup, part of the national…
Details