Wednesday, 29 April 2015

Pensions - Auto-Enrolment

Auto-enrolment is now bring rolled out to all businesses so it's time to get ready. But what can you expect after you've set up your scheme?

Ongoing management of auto-enrolment involves potentially tricky and time consuming payroll procedures. Check well in advance that your software can cope. Alternatively, consider switching to a bureau service. Me !!

Tuesday, 21 April 2015


The new pension rules allow for a variety of ways to take a lump sum from your pension fund. Each has different tax consequences. What factors should you consider before taking your money?

If you take your whole fund, 75% counts as taxable income. The same is true of a uncrystallised fund pension lump sum, but you can take as little as you want now and more later. Or you can take a completely tax free pension commencement lump sum of up to 25% of your fund, but subsequent withdrawals are fully taxable.

After 5 April 2015 you will be entitled to free financial advice about your pension under a government scheme.