UK pensions are on the cusp of a significant transformation, thanks to the concept of a “Pot for Life.” Since the introduction of auto-enrolment, which has seen a remarkable uptake with 88 per
In a promising development for the UK economy, analysts from Bloomberg Economics and the National Institute for Economic and Social Research have forecasted that the inflation rate could fall below two per cent
Jeremy Hunt unveiled a novel British Individual Savings Account (ISA) in his spring Budget statement that aims to invigorate investment in the United Kingdom. What is the new British ISA? The British ISA
The Chancellor, Jeremy Hunt, has outlined a series of pension reforms and initiatives aimed at bolstering investment in the UK and refining the pension landscape in this latest Budget. These reforms include exploring
Cash flow as a concept is more commonly used in the world of business, but having a steady flow of income and outgoings in your personal life is just as essential. Understanding and
The recent cut in National Insurance (NI) contributions presents millions of UK workers with a golden opportunity to boost their retirement savings. The drop from 12 per cent to 10 per cent in
As we progress through 2024, the financial landscape continues to evolve, marked by recent fluctuations in the UK’s inflation rate. In December, inflation rose to four per cent, up from 3.9 per cent
In recent years, the ‘Bank of Mum and Dad’ has become an increasingly vital resource for first-time property buyers. Recent research by the Institute of Fiscal Studies (IFS) has revealed that half of
The Bank of England’s (BOEs) decision to maintain the base interest rate at 5.25 per cent for the third consecutive time in December, following a series of fourteen increases in less than two
The recent surge in pension tax relief, exceeding £50 billion for the first time, marks a significant opportunity for savers to enhance their retirement funds. This £14 billion increase over five years highlights
A pension is a long term investment. The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Pension income could also be affected by interest rates at the time benefits are taken.
Pension savings are at risk of being eroded by inflation.
The tax treatment of pensions in general and tax implications of pension withdrawals will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future.
Accessing pension benefits early may impact on levels of retirement income and your entitlement to certain means tested benefits.
Accessing pension benefits is not suitable for everyone. You should seek advice to understand your options at retirement.
Lamont Pridmore Asset & Wealth Management is the trading name of Lamont Pridmore Asset & Wealth Management Limited. Registered in England no: 08395896. Registered address: Milburn House, 3 Oxford Street, Workington, Cumbria, CA14 2AL.
Lamont Pridmore Asset & Wealth Management Ltd is authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register no 599259 – www.fca.org.uk/register
The Financial Conduct Authority does not regulate accountancy, taxation and trust advice, will writing, legal services, business services and some aspects of commercial mortgages.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.
Please note that the value of investments can fall as well as rise and you may get back less than you invested.
