386 results for "Work and Pensions"

A potential £16 billion tax increase on pension contributions could significantly reduce pension savings. Sir Steve Webb suggested this could occur if employers are required to pay National Insurance on…

Under the triple lock, the full new state pension should increase by over £500 to £12,020 per year starting  April 2025. However, this amount is still far below  what is required...

Increasing workplace pension contributions for both employees and employers could significantly enhance retirement savings, potentially adding £217,000 to an individual's pension pot, according to new research. Raising Pension Contributions Could...

Labour's plan to review pensions in order to save money has raised concerns about the potential impact on households and their pension pots, leading to media reports of a "pension...

According to the latest figures issued the Office for National Statistics (ONS) on Tuesday, average regular earnings growth decreased by to 4.5% (with bonuses) in the three months leading to June. This...

Pensioners who have worked for 30 years could be missing out on a  £70,000 increase. New research indicates that state pensioners are losing over  £1.2billion each year by transferring their...

The research shows that by 2026 million pensioners could suffer from so-called “retirement tax” on their state pension. Labour will hold the current tax threshold at £12,570 up to 2027-28....

The King’s Speech today (Wednesday) outlined the Labour’s legislative priorities for the forthcoming year, including various new pension bills. Sir Keir Starmer, The Prime Minister, stated that these new measures...

UK pension holders and those with employer-contributed workplace pensions, as well as other private pension plans, have been notified of a smart tax-saving “backdate” strategy. Maximize Your Pension Tax Savings...

Following the Labour Party's victory in the general election on 4 July, millions of older people in the UK can expect the triple lock policy, which guarantees safe payments of...

According to Office for National Statistics (ONS) the UK inflation rate for May fell to its lowest point in almost three years. The Consumer Price Index (CPI) dropped to 2.0%...

Britons could get a lot of money back if they check whether the government owes them refunds. Many workers may have paid too much tax and could get a refund...

Parents of disabled children are being urged to act before running the risk of facing a shock in retirement in later life. Parents Caring for Disabeled Children Could Face a...

The Labour Party has reversed its decision to bring back the Lifetime Allowance on pensions, a measure originally estimated to generate £800 million in tax revenue. This reversal led to...

The Conservatives are aiming to secure the support of older voters ahead of the next election by introducing a new ‘triple lock plus’ policy to boost pensioner incomes. The new...

British state pensioners could see a significant increase of £600 a month in their payments under a new policy proposal. A financial expert has suggested that the incoming government could...

Next week, a grant of €1,850 will be distributed to those eligible. Find out more about eligibility criteria and the payment procedure to determine whether you are entitled to this...

Millions of people in the UK are at risk of “dangerously underestimating” the total amount of money they need when it comes to retirement savings. Survey Reveals UK Adults' Lack...

According to new estimates from the Office for National Statistics (ONS), UK inflation fell to its lowest level in nearly three years in April as energy prices fell further. Consumer...

Over the three months to March, wage growth in the UK remained strong despite the slowdown in the labour market. Members of the Bank of England's Monetary Policy Committee had...

Wealthy pension savers are being cautioned that a new “catch in the small print” of lifetime allowance legislation might put them at danger of paying excessively tax on pension withdrawals....

The Scottish Parliament has demanded “full compensation” for the WASPI (Women against State Pension Inequality) generation of state pensioners. Scottish Government Backs Resolution for WASPI Compensation as Pressure Mounts Following...

The British population is currently grappling with a plethora of tax obligations, to an extent that event HMRC finds it hard to keep up. With allowances frozen or slashed, taxpayers...

Over two million British households have been warned they may be missing out on council tax benefits worth more than £1,500 each year. Many People Could be Missing out on...

Ministers have been advised that private sector workers and businesses must contribute more to their pensions to avoid a retirement crisis. Urgent Reforms Needed to Bolster Pension Contributions According to...

Brits are being urged to check their payslips as HM Revenue & Customs (HMRC) collect an estimated £5.8 billion in overpaid tax. This enormous error is mainly due to incorrect...

According to current statistics, approximately one million households in the UK could lose up to £6,500 in state pension due to a simple oversight in claiming child benefit. Shockingly, child...

British pensioners with income tax may be concerned to learn that they stand to lose £1,000 in Chancellor of the Exchequer Jeremy Hunt's new Budget. His proposal to freeze the...

UK Chancellor Jeremy Hunt's Budget 2024 announcement may have left you wondering about the impact on your finances. Substantial changes are on the horizon, with key measures on tax, benefits,...

The impending challenge of funding a substantial wave of retirements has grown too significant to overlook. As the ageing population increases, the strain on state pension systems becomes an undeniable...

Pensioners have encountered an unforeseen financial setback, as newly disclosed figures reveal the imposition of an "emergency" income tax bill, reaching as high as £55,000 for some individuals, subsequent to...

As the clock ticks on, signalling the inevitable journey toward retirement, a daunting revelation casts a shadow over the typical worker facing the stark reality of being left £600,000 adrift...

The Chancellor's recent decision to abolish the pensions "lifetime allowance" marks a landmark day for British pensions. The move holds the potential to reshape the landscape of retirement savings, promising...

Rising energy and grocery bills are placing significant financial strain on pensioners, emphasizing the urgency of bolstering retirement savings. Amidst escalating living costs, pensioners find themselves grappling with the necessity...

Recent research sheds light on the urgent need to address the challenges posed by the aging population in the UK, particularly in relation to retirement age. The findings emphasize the...

In recent years, Social Security has undergone several changes affecting recipients in different ways. While some alterations have been positively viewed, like the forthcoming 3.2% increase in benefits for 2024,...