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  • Pension annuity and drawdown plans | RetireEasy News
    drawdown plans there has been much conjecture and some confusion as to the tax treatment of benefits arising on death under different types of plan We hope the following table clears up some of the confusion however we must stress that the detail given is based on the tax regulations as they stand today Pension Annuity Treatment of Death Benefits From 6 April 2015 Date of death Benefit Type Tax Position Potential Beneficiary Before age 75 Lump sum Value protection Tax free Any beneficiary On or after age 75 Tax rate 45 from 2015 16 and at marginal tax rate from 2016 17 At any age Income during guarantee period or as specifieddependant s pension Taxable at marginal tax rate Any beneficiary during guarantee period Dependant s pension to qualifying dependants only Pension Drawdown Plan Treatment of Death Benefits From 6 April 2015 Date of death Benefit Type Tax Position Potential Beneficiary Before age 75 Lump Sum Tax free Any beneficiary Flexible Income On or after age 75 Lump sum paid from drawdown plan Tax rate 45 from 2015 16 and at marginal tax rate from 2016 17 Income continuation of drawdown Taxable at marginal income tax ISA NISA Treatment of Death Benefits Date of death Benefit Type Tax Position Potential Beneficiary At any age Lump sum Nil income and capital gains taxFund value potentially liable for IHT Fund value added to deceased s estate 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

    Original URL path: https://www.retireeasy.co.uk/news/pension-annuity-and-drawdown-plans (2016-04-27)
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  • The removal of the 55% Death Tax brings the comparison of Drawdown vs ISAs into Sharper Focus | RetireEasy News
    of the 55 death tax irrespective of whether any income has previously been withdrawn from the fund and where the plan holder dies before reaching age 75 Where the plan holder dies after reaching age 75 the fund remains free of IHT but there is a tax of 45 reduced from 55 on any lump sum paid out and this tax rate is being revised again from April 2016 In summary tax relief is given on amounts within certain limits paid into a SIPP Drawdown plan and from next April the plan holder can receive from age 55 a tax free lump sum of 25 of the fund this may be phased in over time and the remaining fund can be withdrawn as a single or a series of lump sums or as a regular income all such withdrawals will be liable for income tax at the plan holder s marginal rate of tax On the plan holder s death the remaining fund value may be passed to any nominated beneficiary as a lump sum normally free of IHT or the beneficiary can continue the Drawdown Plan in his or her own name It is often overlooked that the tax free status of an ISA NISA is completely removed on the death of the investor and the Government has no plans to change this Investments paid into an ISA NISA do not attract any tax relief but the ISA fund created may be withdrawn as a regular income or in one or a series of lump sums from any age and completely free of any income tax liability whilst the investor is alive On the investor s death the ISA wrapper is lost and its value will be added to the deceased s estate and this may be liable for

    Original URL path: https://www.retireeasy.co.uk/news/the-removal-of-the-55-death-tax-brings-the-comparison-of-drawdown-vs-isas-into-sharper-focus (2016-04-27)
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  • New Pensioner Bonds Announced | RetireEasy News
    guides Alerts updates Case studies FAQs Glossary Videos Company About RetireEasy Team Contact Accolades Blog Press Releases News Articles Alerts Updates Helpful Guides New Pensioner Bonds Announced 19th March 2014 by RetireEasy George Osborne today announced that a new range of pension bonds will be issued by the National Savings Office next year First indications suggest the interest rate offered will be higher than most bank rates and the interest will be taxable The limit for each bond is expected to be 10 000 More to follow soon 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 on year and stipulating whether these are one off or recurring contributions As always you can revisit these projections and change them

    Original URL path: https://www.retireeasy.co.uk/news/new-pensioner-bonds-announced (2016-04-27)
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  • Osborne Announces Massive Overhaul Of retirement Options | RetireEasy News
    Massive Overhaul Of retirement Options 19th March 2014 by RetireEasy George Osborne today announced potentially far reaching changes in retirement planning and funding effective from next April Central to the new regime is the ability to withdraw the whole of a pension fund as a single lump sum or as a series of lump sums over a period of time 25 of the pension fund can be received free of any tax with the balance added to your income in the year of withdrawal to calculate the appropriate rate of tax Consultation has begun to shape the new legislation and regulation and we will keep you up to date with developments going forward 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

    Original URL path: https://www.retireeasy.co.uk/news/osborne-announces-massive-overhaul-of-retirement-options (2016-04-27)
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  • ISA Limits Up Plus Added Flexibility | RetireEasy News
    releases News articles Guides Tools Overview Helpful guides Alerts updates Case studies FAQs Glossary Videos Company About RetireEasy Team Contact Accolades Blog Press Releases News Articles Alerts Updates Helpful Guides ISA Limits Up Plus Added Flexibility 19th March 2014 by RetireEasy In today s Budget George Osborne announced higher ISA limits of 15 000 per individual from July 2014 The new limit will combine both Cash and Investment ISAs with greater flexibility to switch between each type More to follow soon 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 on year and stipulating whether these are one off or recurring contributions As always you can revisit these projections and change them at any time either when your expectations

    Original URL path: https://www.retireeasy.co.uk/news/isa-limits-up-plus-added-flexibility (2016-04-27)
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  • CPI Impact on State Pensions | RetireEasy News
    News Accolades Blog Press releases News articles Guides Tools Overview Helpful guides Alerts updates Case studies FAQs Glossary Videos Company About RetireEasy Team Contact Accolades Blog Press Releases News Articles Alerts Updates Helpful Guides CPI Impact on State Pensions 16th October 2013 by RetireEasy It has been announced that the September CPI value was 2 7 This is the rate that the State Pension and other pension revaluations will be increased by with effect from next April 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 on year and stipulating whether these are one off or recurring contributions As always you can revisit these projections and change them at any time either when your expectations change or you have

    Original URL path: https://www.retireeasy.co.uk/news/cpi-impact-on-state-pensions (2016-04-27)
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  • Shop Around To Maximise Retirement Income | RetireEasy News
    to shop around not only for the best standard annuity rate but also for non standard annuities The enhanced annuity rate market for smokers and those with medical conditions has developed enormouusly over the last year and it is now possible to complete a single medical questionairre that can then be sent to all the annuity providers The key alternative to annuitisation Income Drawdown also received a boost earlier this year with the maximum allowable income now set at 120 of GAD The 15 year gilt yield that is used to set the GAD rate has also increased from around 2 0 at the start of 2013 to its current level of 3 25 In summary shop around and start your reserach early to ensure you consider all your alternatives and select the best option that meets yor circumstances 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

    Original URL path: https://www.retireeasy.co.uk/news/shop-around-to-maximise-retirement-income (2016-04-27)
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  • New Lifetime Allowance £1.25 Million Still Sounds A Lot | RetireEasy News
    fund far less than this But the new limit coming into effect from 2014 may tell us a bit about how the Government is thinking about private pension provision and retirement savings generally Recently the Lifetime Allowance was trimmed back from 1 8 million to 1 5 million but for the first time based on the new Allowance and current annuity levels a pension fund of 1 25 million will provide an annual pension of 40 000 p a below the higher rate income tax threshold this pension would include a 3 hedge against inflation and a 50 spouse s pension To coincide with the reduction in the Lifetime Allowance the Annual Allowance the maximum amount you can save in a pension plan with full tax relief is being cut from 50 000 p a to 40 000 p a These measures will certainly cut the amount of tax relief the Government dishes out on pension contributions but an increasing number of savers will need to look at other methods of savings and investment to top up their retirement income with very few providing the same level of tax relief The Government have not announced any plans to re visit the new limits or provide any hedge against the impact of future inflation so in real terms these limits will lead to a lowering of the maximum possible pension for an ever increasing number of savers It will be interesting to see if successive Governments will continue or reverse this shift 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

    Original URL path: https://www.retireeasy.co.uk/news/new-lifetime-allowance-1-25-million-still-sounds-a-lot (2016-04-27)
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