Retirement

Achieving a comfortable retirement requires effective planning early in life. Critical to this process is understanding the nuances of the UK pension system, including various pension schemes available to help you secure a stable income during your golden years. TPD Wealth Management, a Stockport-based financial planning firm providing bespoke advice to individuals and businesses, offers a comprehensive roadmap to navigating ...

Government changes to when pensions are taxed may mean you could save far more tax-efficiently for your retirement. If a potential tax bill influenced your current retirement date, it might be worth reviewing your plan. Previously, the Lifetime Allowance (LTA) affected the total pension benefits you could build up before facing a possible tax charge. In 2022/23, the LTA was ...

A combination of frozen tax thresholds and rising inflation mean an increasing number of retirees need to consider tax. Read on to find out what you need to know about Income Tax in retirement and how you could manage your tax liability. According to the Independent, in 2023/24, 8.5 million over-65s are paying Income Tax – that’s around a 10% ...

Retirement – a well-deserved period of relaxation and fulfilment after a lifetime of hard work and responsibility – is a vital milestone in an individual’s financial journey. However, achieving a comfortable retirement requires careful planning, strategic decision-making, and consistent progress monitoring to ensure long-term financial well-being. As life expectancies increase and retirement periods extend, the significance of a well-crafted, personalised ...

Planning for financial security in retirement is a crucial yet complex task. Pensions playing a central role in ensuring a comfortable and stress-free life after you finish working. Managing pensions involves complex tasks like exploring schemes, understanding taxes, and aligning financial goals. Yet, it is vital to make well-informed decisions when it comes to retirement planning. Having a knowledgeable and ...

Retirement planning is an integral part of securing your long-term financial well-being and ensuring a comfortable life in your post-work years. The idea of maintaining a steady income and enjoying the fruits of your labour may seem overwhelming, but with over 100 years of collective experience, the team at TPD Wealth Management can provide invaluable guidance in making your retirement ...

Retirement is a crucial stage of life that deserves careful planning and preparation. It is a time when people typically stop working and start living off their savings, investments, and Social Security benefits. Retirement planning involves developing a long-term strategy to ensure that you have enough income to support your lifestyle after you retire. Read on as we provide a ...

Retiring early is an aspiration for many workers looking forward to greater freedom. If early retirement is something you’re dreaming about, a survey suggests financial planning could help you turn it into a reality and enjoy the next chapter of your life more. A Standard Life study found, on average, people receiving financial advice plan to retire at 66 – ...

The thought of early retirement can be incredibly enticing. The idea of having more time to spend with family, travel the world, pursue hobbies or simply relax is an attractive prospect. However, early retirement is not without its challenges and requires careful consideration and planning. With that said, let’s explore the key factors you need to take into account when ...

Tax relief could boost your pension and mean you have more financial freedom in retirement. Yet it’s something that you may overlook when reviewing your pension, as analysis suggests that some workers aren’t claiming their full entitlement. In fact, according to a report in the Telegraph, higher- and additional-rate taxpayers could have missed out on as much as £811 million ...