-
Lifetime allowance budget changes
The Chancellor’s Spring Budget delivered on 15 March 2023 brought with it some significant changes to UK pension taxation from 6 April 2023. If you are impacted by any of the changes we recommend you seek professional advice prior to taking any action. The lifetime allowance is the maximum amount of savings you can have…
-
New Minimum retirement age to change
The Government is gradually increasing the State Pension age which rises to age 67 in 2028. To check when your State Pension age is, use the handy checker on the Government website at: www.gov.uk/state-pension-age. There will also be a rise in the minimum age at which you can start taking benefits from a pension scheme.…
-
Protect yourself from a pension scam
Stay alert to the danger of scams of all types and remember “if something sounds too good to be true it probably is!” Steps to protect yourself: Watch ‘Don’t Get Suckered In’: www.youtube.com/watch?v=TYk_X3tn9hc
-
Price inflation
You may have seen the level of price inflation in the UK has reached the highest level in 40 years. How this affects your benefits depends on when you built them up and whether you have already drawn your pension. Only some of the Scheme’s benefits are linked to inflation and will increase when inflation…
-
Retirement living standards
The Pensions and Lifetime Savings Association (PLSA) has launched ‘Retirement Living Standards’ to help people picture their future retirement and understand what they need to save to achieve it. As you may have seen your expenditure increase over the last year by almost 20%, the PLSA have updated their standards in line with high inflation…
Wolseley Group Retirement Benefits Plan