Fortitude Financial Planning

Pension Planning

Time for year-end planning is here!

It may feel as if it were only last week that Mr Osborne was presenting his tax plans to Parliament, but it is already time to begin thinking about his next set piece – the Spring Budget – and, along with it, year-end tax planning. The Budget is scheduled for Wednesday 20 March, so your 2013 year-end tax planning should best be wrapped up before then, rather than waiting for the official tax year end of Friday 5 April (the end of Easter week). Read more →

State pension reform – the winners and losers

In mid-January, the Department for Work and Pensions (DWP) published its long-awaited White Paper on reform of the state pension system. The paper sets out how the government aims to move from the current two tier system of state pension (basic state pension and a state second pension (S2P) for employees only) to a single tier pension for the employed and the self-employed.

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Today’s climate: will it impact your retirement options?

The law of unintended consequences is one of those special laws that impact in totally unexpected areas. In this case the Government’s attempt to maintain growth in the economy by its programme of Quantitative Easing (QE) has had an unintended and unwanted impact on pensions.

Pensions have been much maligned in many places – unjustifiably in my opinion – as they continue to represent an effective tax-efficient long term savings option for many people. However, the impact of QE has been severe and unexpected. Read more →