Private pensions have become pernicious financial vehicles allowing older generations to secure disproportionate subsidies at the expense of younger workers, prompting calls for tax break equalisation.
The revived Pensions Commission will urge ministers to address the significant gender gap in retirement savings, where women have half the pension wealth of men. The report highlights the 'motherhood penalty' and women's greater likelihood of part-time work contributing to the disparity.
Fraudsters exploit confusion or anxiety over new IHT rules by offering a ‘safe haven’ for savings potsThe caller pitches a great deal. Shift the moneysaved in your pension and reinvest it in a scheme overseas where you can avoid it being caught under next year’s changes to the UK’s inheritance tax (IHT) system.From April next year, any money left in a defined contribution pension after your death, which is most workplace and all private pensions, will be pulled into the IHT net. Continue reading...
