Posts By: Don MacRitchie

Stockmarket Turmoil Overdone?

Posted by & filed under Website.

What to do in a stock market slide

  As I write the world’s major stock markets continue to suffer substantial turbulence and heavy selling with many into technical “bear territory” – This is where a group of shares have fallen in excess of 20% from their recent highs. As an example, the main UK market is down about 20%, Germany by 22%,… Read more »

How to make pension drawdown work

Posted by & filed under Retirement planning, UK Pensions.

Pension drawdown article

Following UK pension rule changes implemented in April 2015 pension drawdown has become a lot more prevalent. It is expected that these amendments will affect how people withdraw income from their pension henceforth in the British market. Certain overseas QROPS markets are already in the process of altering their pension regulations to benefit from the… Read more »

How the Swiss pension system works

Posted by & filed under Swiss Pensions.

Swiss 3rd pillar system

  The Swiss pension system is based around a three pillar system. This is similar to others throughout the world: the first pillar is a state backed pension designed to provide a minimum income; second pillars are occupational plans, and third pillars are private pension schemes. First Pillar (Premier Pilier) The Swiss Government has been… Read more »

Achieve early retirement via financial independence realistically

Posted by & filed under Retirement planning.

Early retirement

Being able to retire at an early age doesn’t just happen, it involves commitment, planning and maintaining realistic expectations. The following early retirement guide will specifically exclude extreme methods because for most of the population this simply is not realistic. Instead we will concentrate on the more prosaic issues including money management, how to get… Read more »

Pensions: Lifetime Allowance (LTA)

Posted by & filed under Finance, UK Pensions.

The UK Lifetime Allowance (LTA) is a limit imposed by HMRC on the total accumulated pension anyone is entitled to before tax relief is reclaimed. There are different factors that may apply to you; Brief history Lifetime allowance limit How is it measured Benefit crystallisation event Protection Primary protection Enhanced protection Fixed protection Individual protection… Read more »

Pensions: Annual allowance tax relief

Posted by & filed under Finance, UK Pensions.

The UK annual allowance is a limit imposed by HMRC on the amount of tax relief available for pension contributions in any one tax year which, for UK tax purposes runs from the 6th of April to the 5th of April the following year. This applies to both defined contribution (money purchase) and defined benefit… Read more »

UK pension rules and regulations

Posted by & filed under Pension rules, UK Pensions.

HMRC rules and regulations governing pensions in the UK fall into three main categories which can be further subdivided. Current pension rules therefore cover the following areas; Retirement age State retirement age Minimum retirement age Tax rules Income tax relief Pension withdrawals Death tax rates Additional rules Pension transfers Free impartial advice Unauthorised payments Retirement… Read more »

Top QROPS benefits following rule changes

Posted by & filed under QROPS, QROPS pension transfers.

QROPS benefits overview which includes areas on consolidation, control, security, tax, and risk. QROPS advantages explained in detail in the article with a link through to QROPS guide downloadable pdf

QROPS (Qualifying Recognised Overseas Pension Schemes) apply HMRC rules in non-UK jurisdictions to offer multiple benefits over their UK pension counterparts. Following the latest pension amendments these advantages are as follows; Higher tax free lump sum (up to 30%) * Pay less income tax Avoid or reduce any lifetime allowance tax charge Investments can grow… Read more »

HMRC QROPS list explained

Posted by & filed under QROPS, QROPS list.

UK pensions can be transferred abroad into Qualifying Recognised Overseas Pension Schemes (QROPS). This allows them to be moved without being subject to an unauthorised payments charge that would otherwise have been due. To be deemed qualifying a QROPS must both be non UK based and follow certain rules set forth by HMRC (Her Majesty’s… Read more »

QROPS Rules and Regulations

Posted by & filed under Pension rules, QROPS.

QROPS Rules - Retirement is not allowed before 55, no inheritance tax, death tax or income withdrawal limit so you have full flexibility

QROPS are mandated to follow HMRC rules & regulations. Failure to do so may result in the pension being delisted and losing any associated tax breaks. HMRC’s QROPS list has recently been amended to clarify that a pension scheme’s inclusion does not guarantee that it is qualified. According to the rules though, a QROPS scheme is under… Read more »

UK Death Tax Changes 2014

Posted by & filed under Pension rules, UK Pensions.

UK pension rules are expected to undergo further changes following George Osborne’s recent announcement at the Conservative conference. These changes are likely to to be confirmed in the autumn statement (3rd December 2014) and subsequently enacted from April 2015. This has now come to pass. Following major pension changes announced in the 2014 UK budget… Read more »

New UK Pension Rules from April 2015

Posted by & filed under Pension rules, UK Pensions.

Following on from the UK Government’s consultation results* the new pension framework can now be laid out detailing how this specifically affects final salary (defined benefit) pension schemes and money purchase (defined contribution) schemes. The pension reforms will replace the interim measures announced in the UK budget of March 2014 and will come into effect from the… Read more »

Pensions Made Easy

Posted by & filed under Pension rules, QROPS, UK Pensions.

Why does pension advice have to be complicated and boring? After all the majority of people would probably prefer simple, fun, easy to follow help, a pension guide for dummies if you will, over complex jargon filled information. Pensions and retirement planning are serious but by engaging you though a more down to earth viewpoint… Read more »

Investing for Retirement

Posted by & filed under Finance.

The most common method of saving for retirement is through a pension scheme. The two main types are defined benefit (final salary) and defined contribution (money purchase) pensions though only the latter is dependent upon investment returns to provide an income. How to invest money It is important to save tax efficiently. This will give you… Read more »

Pension Transfers Explained

Posted by & filed under UK Pensions.

The sizeable pension transfer market exists as a result of competition. This multi trillion dollar industry serves to help individuals get the best deal for their needs. Although the majority of people leave their pension savings to languish in dormant pension schemes more are transferring to better options every year. Two Pension Options: Defined Benefit… Read more »

UK Budget 2014: Pension changes

Posted by & filed under Pension rules, UK Pensions.

One of the biggest areas of change within this year’s budget surrounded pensions. The aim was to improve choice and flexibility whilst removing unpopular elements from the past. What transpired was a genuinely big shift in policy that is due to be implemented from the 6th April 2015 following consultation. In the meantime interim measures… Read more »

Qualifying Recognised Overseas Pension Scheme (QROPS) Explained

Posted by & filed under Pension rules, QROPS, QROPS jurisdictions, QROPS list, QROPS pension transfers, QROPS providers, UK Pensions.

QROPS Pension transfer

  QROPS pension transfers can allow you to benefit from holding a UK pension overseas. What follows is all you require to know about QROPS including; What QROPS are How is qualifying status achieved When they were introduced QROPS benefits QROPS potential drawbacks Why they differ to UK schemes QROPS vs SIPPs Rules and regulations… Read more »