Escaping the higher minimum pension age

Tthe government has closed the transfer window that allowed savers to join pension schemes and access their funds at 55.

A surprise change of tack on pension ages was revealed when this year’s Finance Bill was published. In February 2021, the government confirmed that it would go ahead with a two-year increase in the normal minimum pension age (NMPA) from 55 to 57 from April 2028. The NMPA is the earliest age at which you…

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Universal Credit eligibility expands to higher rate taxpayers

More than 500,000 higher rate taxpayers could now be eligible for Universal Credit, among 26% of all families and 84% of all single parents.

Autumn Budget reforms have created a surprising clash of benefits and income tax. The Covid-19 pandemic was the first time many people utilised Universal Credit (UC) for the first time – between February and May 2020, the number of households claiming UC rose by 1.7 million to 4.2 million. In March 2020, the UC standard…

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The global recovery in share dividends

share dividends are expected to return to pre-pandemic levels

Research shows that in Q3 2021, dividend payments increased sharply in all major markets and are expected to return to pre-pandemic levels before the year’s end. In 2020, global share dividends fell by 11.9% year-on-year in USD terms according to an index calculated by the investment manager Janus Henderson. In the UK, dividends suffered a…

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Triple Lock shifts to Double Lock in 2022

The pensions triple Lock will be replaced in 2022 by a Double Lock

The temporary Triple Lock suspension and the introduction of a Double Lock has cost pensioners up to £9.35 a week. Call it a good day for burying bad news. Within hours of the Prime Minister announcing his long-awaited plans for social care in England in early September, the Department for Work and Pensions revealed that…

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Company cars: heading downhill fast?

The number of company car drivers in the UK continues to fall

Recent data suggests the number of company car drivers continues to fall. Once upon a time, the aspiration of many an office worker was to climb the ladder to the height at which a company car became part of the remuneration package. The appeal of being liberated from the expenses of motoring – sometimes including…

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