Author: volvo

The Retirement Living Standards are designed to give people a realistic picture of the lifestyle they could have in retirement and the income needed to achieve it. They set out three levels of retirement living: Minimum, Moderate, and Comfortable. The updated annual income figures are: These figures reflect rising everyday costs, including food, household bills,…

The State Pension Age (SPA) and Normal Minimum Pension Age are set to rise. Read more to find out how this could affect you: Visit gov.uk/state-pension-age to check your SPA.

Triple lock: This remains in place so the State Pension will keep going up each year by the highest of 2.5%, inflation or earnings growth. State Pension increases will be 4.8% from April 2026. ISA reforms: From April 2027, the annual tax-free allowance in cash ISAs will be reduced from £20,000 to £12,000 for under…

Latest members news letter has been issued to the members and available to read here.

The Scheme is due to connect to the Pensions Dashboard by 31 May 2026, more information what it is can be found here: An introduction to the pensions dashboards ecosystem

Losing a loved one is never easy, but claiming the death benefits you and your family are entitled to should be. If your partner has unfortunately passed recently, or you know someone that has lost their partner, then we strongly recommend looking into the Bereavement Support Payment. This may be available to those who were…

The key things to note about pensions and related benefits are:

Scheme members, please note that from now on Mercer administration has rebranded to Aptia, see our news article dated 20 May 2024 for more details. Also, Premier Wealth Management has rebranded to Isio Wealth Management following Isio buying Premier Wealth Management in 2021. To find out more, please click on Isio Wealth Planing Welcome –…

If you’re aged 45 to 65, you should visit the GOV.UK digital ‘Midlife MOT’ service. It provides free online support that allows you to assess your finances and wellbeing to prepare for a more secure retirement. You can find this at: www.yourpension.gov.uk/mid-life-mot/.

The Finance Act 2024 abolished the lifetime allowance (LTA). The LTA was the amount of savings you could have at retirement from all your pension scheme benefits combined, without incurring an additional tax charge.  The Government has replaced the LTA with two new tax-free lump sum allowances: These new allowances apply to all your pension…