Minimum Pension Age Changes

As Independent Financial Advisers, we are constantly reviewing the shifting issues that affect your financial planning needs. One of the most significant matters that has been on the horizon for some time is the change in the minimum pension age. The government has announced that it is to undertake a review on raising the normal…

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Goodbye 2020, you won’t be missed!

We have now said goodbye to a year that will be remembered for a lot of the wrong reasons. Despite entering a third lockdown, the light at the end of the tunnel in terms of returning to a sense of normality is beginning to get closer with the number of vaccinations increasing. However, one thing…

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Pensions and Tax – A Brief Summary

Some of the most commonly asked questions regarding pensions and tax are outlined below. 1. How does emergency tax work? Normally the first income paid from a pension will have emergency tax applied to it, as the pension provider will need to contact HMRC to get the right tax code for the person taking the…

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Independent Pension Advice and Retirement Planning

Independent Pension Advice and Retirement Planning Westerby Investment Management Limited offer independent financial advice in a wide range of areas including pensions, retirement planning and investments. We take the time to really understand what you want from your retirement and provide solutions and strategies as to how to achieve these goals. We will work with…

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Can I buy a Property in a Pension scheme?

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…

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Taking Benefits From Your Pension

When 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…

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