Pension drop-out rates “soaring”

According to government estimates, more than one million people will opt out from workplace pensions by 2019, with the current rate of 10 per cent forecast to more than double to 21.7 per cent in 2018 and 27.5 per cent the year after. This means that when the self-employed and non-eligible workers are included, a staggering 13 million working adults will have no pension in place. Continue reading Pension drop-out rates “soaring”

IHT not just for the very wealthy

New inheritance tax (IHT) rules, issued this April, mean that people planning to leave their assets to their direct descendants can leave more, as on top of the £325,000 tax-free threshold, there is an additional £100,000 tax-free ‘family home allowance’. However, this only applies if the family home is being left to children or grandchildren – siblings or other relations do not apply. Continue reading IHT not just for the very wealthy