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  • Triviality Rules Extended | RetireEasy News
    wholly as a cash lump sum where a retiree s total pension savings are less than 18 000 A quarter of the cash sum is paid out tax free and the remainder is taxable In the depths of the draft Finance Bill 2012 the Government proposes to extend the Personal Pension triviality rules enabling people aged 60 and over to cash in two pension pots of 2 000 or less during their lifetime irrespective of the value of any other pension savings Again a quarter of the cash sum is paid out tax free and the remainder is taxable Mark Soper of RetireEasy said A step in the right direction to ease the process of dealing with small pension pots at retirement but we would have liked the limit to be higher at say 5 000 per pot Next post RetireEasy 2016 Terms Conditions Privacy Policy SaaS Solutions from Cyber Duck Follow us LinkedIn Facebook Twitter More information Navigation About us What is RetireEasy How it works Accolades FAQs Security News Press Contact Privacy Policy Terms Conditions Info Retirement Planning Retirement Plans Pension Calculator Pension Plans Retirement Income Retirement Annuity Planning for Retirement Planning Retirement Plan for Retirement Retirement Planner

    Original URL path: https://www.retireeasy.co.uk/news/triviality-rules-extended (2016-04-27)
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  • Life Assurance Premium Relief Axed | RetireEasy News
    Helpful Guides Life Assurance Premium Relief Axed 8th December 2011 by RetireEasy On the day the Government announces next year s Budget day as 21 st March it also confirms the removal of Life Assurance Premium Relief effective from 2015 This move will raise very little extra income for the Government but could impact on the retirement plans of hundreds of thousands of retirees Life assurance policies effected before March 1984 receive 12 5 tax relief on the premiums and its removal will lead to higher premiums or a reduction of policy benefits or both A potentially confusing situation for the retired community and those planning retirement to deal with Next post RetireEasy 2016 Terms Conditions Privacy Policy SaaS Solutions from Cyber Duck Follow us LinkedIn Facebook Twitter More information Navigation About us What is RetireEasy How it works Accolades FAQs Security News Press Contact Privacy Policy Terms Conditions Info Retirement Planning Retirement Plans Pension Calculator Pension Plans Retirement Income Retirement Annuity Planning for Retirement Planning Retirement Plan for Retirement Retirement Planner Not yet retired You can now include all your additional savings investments and Pension Contributions between now and your retirement taking into account increasing these Additional Contributions year

    Original URL path: https://www.retireeasy.co.uk/news/life-assurance-premium-relief-axed (2016-04-27)
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  • Planning To Pay For Your Care In Later Life | RetireEasy News
    comes from an era when it was rare for anyone to reach 85 today 1 3 million are that age or older The numbers likely to require long term care say industry experts Laing Buisson are projected to increase by 60 across the UK by 2030 ARoyal Commissionon the funding of Long Term Care early onin the Blair years called for the State to help share the costs but was deemed financially unpalatable and kicked into the long grass and there are increasing concerns that the Dilnot Commission will also be watered down Who pays for care And while Dilnot focussed on the relatively small number of people who go into a care home usually for the last year or two of their lives there are millions more already paying for someone to provide vital health or care services The model that the Government promotes with good reason is to receive that care for as long as possible within one s own home They support this with a Carers Allowance and two different rates of Attendance Allowances none of which are means tested While paying for care in the home environment is not cheap the alternative is far less palatable For those deemed able to pay Laing Buisson say the fees for self funders in a care home now average 631 a week 32 808 a year Anyone in England with assets of around 23 000 and over is considered able to afford to pay for their own care There are slight variations elsewhere in the UK If you have between 14 250 and 23 250 you pay a contribution Furtherfinancial support is theoretically available to ease the burden The problem is that non means tested support such as NHS Continuing Care for those with recognised health needs can be very difficult to obtain from PCTs striving to trim overstretched budgets Knowing the system and employing a specialist advisor ideally a member of the Solicitors for the Elderly network to appeal your case may be required to win the case Non means tested care support So how does someone who is entering or early on in retirement plan for these contingencies While you may be healthy and active now the statistical chances are that you are going to have to call on some level of care in the years ahead Agreed some non means tested support will be forthcoming but for those with the means to pay the chances are that it will not be enough to cover the entire cost For those living alone even selling the house can come into the equation Get it wrong and any rosy plans you had for a comfortable retirement may go up in smoke Care Fee Plans are available and for a fixed lump sum will allow you to receive care in a chosen establishment for the rest of your life But these aren t cheap how could they be and tend only to be worth considering when you are close to

    Original URL path: https://www.retireeasy.co.uk/news/planning-to-pay-for-your-care-in-later-life (2016-04-27)
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  • News Articles | RetireEasy News
    do you retain control of when you put your feet up Read the full article 20th September 2011 by RetireEasy What lifestyle will you be able to afford in retirement Interest rates below inflation annuity rates at historic lows sliding property values now is not necessarily a good time to retire But is it all bad news Tony Watts looks at what those in or entering retirement need to do to get the most from the years ahead Read the full article 20th September 2011 by RetireEasy Releasing the equity in your property to help fund retirement Many people now look to their property as a key means of keeping them afloat in retirement but what is the reality By Tony Watts Read the full article Newer posts Sign up to Our Newsletter Sign up to our newsletter and receive regular updates from us Wrong email format RetireEasy 2016 Terms Conditions Privacy Policy SaaS Solutions from Cyber Duck Follow us LinkedIn Facebook Twitter More information Navigation About us What is RetireEasy How it works Accolades FAQs Security News Press Contact Privacy Policy Terms Conditions Info Retirement Planning Retirement Plans Pension Calculator Pension Plans Retirement Income Retirement Annuity Planning for Retirement

    Original URL path: https://www.retireeasy.co.uk/news/blog/news-articles/page/2 (2016-04-27)
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  • Helpful Guides | RetireEasy
    the future All of these options are available via the Desired Income tab in the Expenditure section of your LifePlan Plan a home downsize You can do this by selecting the Future Downsizes tab in the Home section of your LifePlan This enables you to choose the age at which you plan the downsize the percentage of your home value that you wish to release and how much you expect to use to repay any outstanding mortgage The surplus will be added to your notional investment account which will use your base assumptions on growth and yield to grow these investments You can choose further downsizes if you think this might be something you would do more than once Take out a Lifetime Mortgage The ability to easily model this option which is becoming ever more mainstream will be incorporated in our soon to be released LifePlanPlus which will be available for a modest monthly fee More details will be revealed closer to the LifePlanPlus release Continue working after retirement By selecting the Jobs tab in the Income section of your LifePlan you will find several options including to continue working full or part time or to start working again after retirement You will be able to select From and To dates for future jobs and inflate the income over time You will need to enter your National Insurance contributions manually but LifePlan will of course calculate your tax liability for each year automatically Sell a personal possession You may have one or more personal possessions such as a caravan boat work of art or classic car which you feel you could sell in the future in order to supplement your income later in retirement some of these items you may feel you will at some time have no further use for Go to the Personal Pensions tab in the Assets and Investments section and if you have entered a suitable asset click Yes to the question Do you plan to sell this asset one day and choose the year in which you might sell it Remember to allow for some Capital Gains Tax if you think this is necessary Sell a Business If you have a personal business you can choose a date when you plan to sell it Go to the Business Investments tab in the Assets and Investments section and click Yes to the question Do you plan to sell this business one day and follow the prompts Sell a Property Investment If you own or have a share in one or more buy to let or commercial properties you can by clicking on the Property Investments tab in the Assets and Investments section select the desired property and answer Yes to the question Do you plan to sell this property one day You will then be able to choose the age at which you expect to sell this property again just follow the prompts Whenever you try out a different option you can immediately check the

    Original URL path: https://www.retireeasy.co.uk/guidesandtools/helpful-guides/article/are-you-concerned-your-money-will-not-last-throughout-retirement-here-are-some-hints-on-how-to-make-your-money-last-longer (2016-04-27)
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  • Helpful Guides | RetireEasy
    instance but an enhanced one might offer good value 3 And what is your attitude to risk and return can you afford to put all or part of your funds into higher risk higher return investments or do you need or want to take a safer option 4 What about those you may be leaving behind will your financial plans need to provide for them in the years to come 5 Do you have the time and knowledge to manage more complex investments would you be safer to leave your money in the hands of a trusted professional or would it simply be easier to place your funds in a well proven vehicle Annuity or drawdown If it s a regular income you are after you have two main choices annuity or drawdown An annuity can deliver a guaranteed income either for the remainder of your life or for a fixed period Variations are also available which will provide an income for your spouse or partner should you pre decease them keep your income in line with inflation operate for a fixed period and end with a lump sum take account of poor health enhanced annuity and provide a better return Don t assume that the pension provider you have saved with over the years will offer you the best deal all too often they rely on customer loyalty So shop around ideally using an independent adviser or a specialist annuity bureau who will look at the whole of the available market on your behalf Annuities represent a risk to both parties if you die earlier than expected the provider wins go past that point and you are quids in A Drawdown Plan is not only more flexible but allows you to retain control of your pension fund and so potentially you can pass some of its original value down to your family normally free of any tax including IHT if you die before age 75 If you die after the age of 75 those who inherit may pay tax depending on their own individual tax status The biggest downside of drawdown of course is the potential for running out of funds during your lifetime especially if the fund in which it is invested does not perform well Of course you don t have to choose just the one option you could divide your available funds between an annuity drawdown and even withdraw up to 25 of your pension pot to go into another vehicle spreading your risk and potentially enhancing your return If you are still uncertain then deferring your decision until your circumstances are clearer or more appealing products come onto the market may be your best option If you do need funds in between your provider may be amenable to allowing you draw down what you need do bear in mind your tax limits and also be aware of any early withdrawal charges that may apply Find out the facts Taking independent financial advice will cost money

    Original URL path: https://www.retireeasy.co.uk/guidesandtools/helpful-guides/article/a-pre-retirement-check-sheet-to-help-safeguard-your-future-income (2016-04-27)
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  • Helpful Guides | RetireEasy
    t always just getting the best price and when you re looking around for the right policy for you do make sure you are comparing like with like How big is the excess for instance And do they include free windscreen cover Building in extras such as a guaranteed courtesy car will add to the costs but if you do have to keep on the road while the car is in dock it can really bump up the costs Equally some will offer very good deals on roadside support enabling you to cut loose your current provider Some offer much better deals on driving overseas so if that represents an important part of your annual travel do factor that in Then there is the cost of adding a driver to your policy helpful if you occasionally need someone else to ferry you about Legal protection is also another handy nice to have if you do have a bump helping you to sort out the wrangles that can often ensue Some providers will build these into the cost others add them on so take into account all the features that you really do need when making your decision If you re looking to really trim your costs consider Opting for a third party fire and theft policy rather than fully comprehensive especially if your car is not particularly valuable Offering to pay a higher level of excess Pay in one lump rather than in instalment unless there is no extra cost of course Install a black box which monitors your driving Some insurers will reduce premiums if you have passed an advanced driving test Too old to get insurance Of course advancing years can start to have the reverse effect on your premiums when you get into later life with some

    Original URL path: https://www.retireeasy.co.uk/guidesandtools/helpful-guides/article/car-insurance-a-basic-guide (2016-04-27)
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  • Helpful Guides | RetireEasy
    hand Increasingly developments are being established with extra care facilities readily on hand apartments which are designed specifically for those with extra care needs and even with care units attached complete with medical personnel There is a considerable advantage of a facility that allows you to progress seamlessly from having an active retirement in an easy to run apartment or town house through to being able to access domiciliary or nursing care as and when need it In particular you can remain within familiar surroundings and within your newly established friendship and support network So are there any caveats to all these positives Firstly there is still relatively little new stock being developed which means that you may need to move away from your current social and support network to find the sort of property you want in your price range Secondly not all developments offer the mix of tenures that will meet you needs ideally there would be a choice to purchase part own and rent enabling you to remain flexible and release as much capital as you need to help fund the years ahead Thirdly every development like this will have associated running and maintenance costs which are passed on as management fees and the more facilities on offer the higher the costs so do take full account of these when budgeting for your future years Fourthly although the move into retirement accommodation is often seen as one s last move there may come a time when you or your partner will need to make the move into accommodation that offers a greater level of support and care extra care or indeed into a care setting Research how easy it will be to make this move and whether there are any restrictions on who you can sell your property to or any cost implications Finally moving into the right retirement property can prove immensely rewarding for many people an opportunity to really make the very most of one s later years Indeed many of those who have made the move will speak of regret they did not make the move earlier or that it has made a calculable improvement on their health and wellbeing But it is a major move and it isn t for everyone it is not the same as living in a semi detached house with your own garden and drive some developments have restrictions on the pets you can keep Moreover it s a move that could prove difficult and or expensive to undo So do undertake your research carefully there are specialist agencies that will listen to all your requirements and preferences and shortlist the best choices for you Don t rush into a move Many of these developments have guest suites where you can sample the life there before deciding Talk to a wide cross section of other residents Explore the locality and check out what sort of social offering it has as well as the proximity to those facilities that may

    Original URL path: https://www.retireeasy.co.uk/guidesandtools/helpful-guides/article/retirement-housing-a-basic-guide (2016-04-27)
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web-archive-uk.com, 2017-12-11