Brits hit with £382m bill after breaching lifetime allowance limit
Frozen thresholds mean even more people will have to fork over cash
LCP
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Kwasi Kwarteng faces ‘tricky balancing act’ as UK chancellor
Cabinet reshuffle also sees Chloe Smith become secretary of state for the DWP
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Should savers consolidate their pensions?
It is important to ‘look before you leap’
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Pension transfer business dries up amid interest rate hikes
Values have plummeted making retirees think twice about switching
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Retirees urged to not rush into a pension transfer
DB scheme members should be careful not to ‘panic buy’ in the assumption that values will fall
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PEOPLE MOVES: Odey AM, Charles Stanley, Stonehage Fleming
Asset manager names CEO, as wealth firm hires head of IHT
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2.5 million UK adults to be dragged into higher rate tax band
But ‘now have a much bigger incentive to put more money into their pensions’
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UK warned about high DC scheme costs with illiquid assets plan
Move would add ‘regulatory burden’ and deliver ‘little for members’
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What does inflation uncertainty mean for pensions triple lock?
It is predicted to hit more than 8% – the same level of earnings growth that triggered the double lock last year
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Tax cuts fail to save lacklustre Spring Statement
Sunak pledges to go ‘further’ on reliefs and allowances
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DB transfer red flags trigger 500 member interviews
But it is not yet clear if measures ‘are genuinely protecting consumers’
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Is the UK set for a generational ‘wealth gap’ in retirement?
There are areas that young savers can turn to in order to grow their savings