Entries by Gordon Bowden

The Lifetime ISA

Announced in the March 2016 Budget the Lifetime ISA (LISA) can be opened by savers between 18 and 40. Up to £4,000 a year can be saved up to age 50. A 25% government top up will be added to a maximum of £1,000 a year. The money saved can go towards a first home […]

Budget – March 2015

In what might be his last ever Budget, George Osborne delivered little of immediate benefit for investors. The new flexibility in drawing ‘money purchase’ pension benefits comes into force on 6th April but this budget announced a further reduction in the Lifetime Allowance from £1,250,000 to £1,000,000 in April 2016. A new transitional protection will […]

Budget – March 2014

Perhaps George Osborne had been reading my previous blogs. This budget presented the best news for investors for a generation. ISAs will become New ISAs but I am not convinced that the term NISA will catch on. The annual investment allowance will increase to £15,000 but the even better news is the flexibility on investments […]

Annuities – Time for Reform

The FSCP also finds that “annuities are increasingly complex and may not offer good value for money”. For many people this is not really news but still far too many individuals buy an annuity from their pension provider without taking independent advice. Who in their right mind would buy a product which must last a […]

Budget – March 2013

The income tax free personal allowance rises quicker than previously planned – to £9,440 in 2013-14 with the plan for it to reach the coalition’s goal of £10,000 the following year. As previously announced the top rate of income tax of 50% for income above £150,000 reduced to 45% from 6th April 2013. Also previously […]

Beware Pension Cash Unlocking Scams

“Receive up to 50% of your pension fund before age 55”. Have you seen the website offering this opportunity. If it sounds too good to be true it is because it is too good to be true. The Pensions Regulator, the FSA, HMRC and the Personal Finance Society have all issued warnings about these schemes. […]