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You searched for the term Children's pension Your search returned the following 40 results...
 
  • 3rd Party Contributions - Saving for future generations pt I - Royal London for advisers

    3rd party contributions - Saving for future generations Pt I We look at how your clients can start saving for their children and grandchildren’s retirement. Providing a decent pension to live on is an expensive business. To provide an income of £32,000 p.a. from age 65 would require retirement...

  • Child Benefit - avoiding the tax charge - Royal London for advisers

    Child Benefit - can you avoid the tax charge? Do any of your clients earn more than £50,000 and have children eligible for Child Benefit? They could lose all or some of their benefit because of their earnings. Would you like to get their Child Benefit back and help them fund for retirement? Key...

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    Information and guidance

  • Universal credit - Royal London for advisers

    ...this is paid on top of the standard allowance. How much for Extra monthly amount First child £277.08 (born before 6 April 2017) £231.67 (born on or after 6 April 2017) Second child and any other eligible children1 £231.67 per child A disabled or severely disabled child £126.11 or £392.08 Help...

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    Rates and factors

  • Statutory sick pay case study - Royal London for advisers

    ...and a dad to his 3 very young children. He works in a big city and he spends a total of around 2 hours every day travelling into the office and travelling home. Recently, friends, family and work colleagues have all noticed a change in Bob’s behaviour and some of them have mentioned it to him. Bob seems...

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    Case studies

  • Death benefits - nominating beneficiaries - Royal London for advisers

    ...of a nominee flexi-access drawdown. On the death of the spouse they want successor flexi- access drawdown to be paid to the children. Can the member state in the nomination form that this is what they want to happen? The member can't dictate what form of death benefit the spouse can receive; nor can...

  • Pension input periods and pension input amounts 2015 - Royal London for advisers

    Pension input periods and pension input amounts (post 8 July 2015 rules) These concepts have been with us since 6 April 2006 but with the reduction in the annual allowance to £40,000 more people are affected. Key facts The annual allowance is currently £40,000 Pension input period (PIP...

  • Defined benefit transfers and the lifetime allowance - Royal London for advisers

    ...lifetime allowance (LTA) tax charge. What does this mean for your client? Can they avoid paying the charge? Let’s look at an example: Meet Mark Mark has worked for an engineering firm for the last 40 years. He is about to retire at age 61 and is widowed with 2 adult children. He also receives...

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    News

    Blog

  • Pension contributions - All you need to know - Royal London for advisers

    Pension contributions - all you need to know This analysis focuses on pension contributions, who can pay them and if there are any restrictions. Key facts Contributions made by an individual have to be supported by relevant UK earnings, employer contributions do not. Income from a pension...

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    Information and guidance

  • Pension Credit - Royal London for advisers

    Pension Credit The DWP have produced a detailed guide to Pension Credit for advisers which you may find useful. Guarantee Credit (Tax Year 2019/20)   Single Pensioner Married Couple Guarantee Credit £167.25 p.w. £255.25 p.w. Capital Limit £10,000 - Any amount over this limit is converted...

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    Rates and factors

  • Pension protection - Royal London for advisers

    Pension protection Lifetime allowance protection It is currently possible to protect benefits from a lifetime allowance charge as a result of the lifetime allowance being reduced (which the Government like to do quite often). This protection has the effect of locking the lifetime allowance...

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    Information and guidance

  • July 2015 Budget Summary - Royal London for advisers

    ...the threshold available on their death. Properties worth up to £1 million (from 2020/21) could therefore be passed on to children without inheritance tax being due on the property. Reduction in annual allowance 2.83 of HM Treasury - Summer Budget 2015 and HMRC - Transitional provisions for aligning...

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    Information and guidance

  • Pension input periods and pension input amounts - Pre 2015 Rules - Royal London for advisers

    Pension input periods and pension input amounts (pre 8 July 2015 rules) These concepts have been with us since 6 April 2006 but, until the annual allowance reduced to £50,000 in April 2011, have really only affected those looking to pay significant amounts into their pension. Important note...

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    Information and guidance

  • Pensions on divorce - Royal London for advisers

    ...the value of the marital home, these being the most valuable of all the matrimonial assets. Furthermore the matrimonial home is likely to be awarded to the spouse (usually the wife) who is bringing up any dependent children. Because of this, and the fact that men are more likely to have a pension than...

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    Information and guidance

  • State Second Pension Explained - Royal London for advisers

    State Second Pension Explained State pensions have over time become more and more complicated. This analysis explains the 'nuts and bolts ' of the State Second Pension. In April 2016, the basic State Pension was replaced by the new State Pension. Since that date it is not possible to contract out...

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    Information and guidance

  • Death benefits: discretion or direction? - Royal London for advisers

    ...to paying out a pension scheme death benefit? Answer: 40% inheritance tax1 Further information Inheritance tax thresholds and rates Find out more about death benefit options HMRC's customer page on inheritance tax When a pension scheme member dies, the scheme administrator has to pay the death benefits...

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    Information and guidance

  • Single-tier pension - Royal London for advisers

    New State Pension The new State Pension replaced the basic State Pension in April 2016. Key facts New State Pension (nSP) The new State Pension started in April 2016 and is currently £168.60 p.w. You currently need to have paid NI contributions for at least 35 years to get a full nSP You can get...

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    Information and guidance

  • Personal Pension/Stakeholder Rebates - Royal London for advisers

    Personal Pension/Stakeholder Rebates All contracted out personal pension and stakeholder pension plans will automatically be contracted back in on 5 April 2012.   2007/08 2008/09 2009/10 2010/11 2011/12 Age * Tier1 Tier2 Tier3 Tier1 Tier2 Tier3 Tier1 Tier2 Tier3 Tier1 Tier2 Tier3 Tier1 Tier2 Tier3...

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    Rates and factors

  • Pension case studies - Royal London for advisers

    ...of scheme specific tax-free cash Uncrystallised funds pension lump sums UFPLS, drawdown, scheme specific TFC and the permissive statutory override Contributions, annual allowance and tax relief 3rd party contributions - Saving for future generations Pt I 3rd party contributions - Saving for future...

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    Pension freedom

    Auto enrolment

    Information and guidance

    ...

  • State pension transition - Royal London for advisers

    State pension transition The government has simplified state pensions with the introduction of the new State Pension. Key facts The new State Pension started in April 2016 and is now £168.60 p.w. You currently need to have paid NI contributions for at least 35 years to get a full nSP. You can get...

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    Information and guidance

  • Pension protection FAQs - Royal London for advisers

    Pension protection - frequently asked questions Primary protection Q: What is primary protection? A: Members who had a benefits value on 5 April 2006 of over £1.5 million could use primary protection to reduce or eliminate the chance that a lifetime allowance charge will apply. The amount of tax...

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    Frequently asked questions

  • HMRC Pension Schemes Newsletters - Royal London for advisers

    HMRC pension newsletters HMRC issue a variety of pension related newsletters. These cover almost anything to do with pensions and contain valuable information. A brief summary and links to the newsletters issued so far are below: Newsletter 112 – July 2019 This includes information on the following...

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    Information and guidance

  • State benefits pension and manuals - Royal London for advisers

    ...accommodation HMRC manuals HMRC newsletters Pension credit State Pensions Contracting out GOV.UK calculators New State Pension State Pension factsheets Pension Statistics Child benefit In certain circumstances, receiving the child benefit can result in a tax charge. This article looks at ways to reduce...

  • Basic State Pension explained - Royal London for advisers

    Basic State Pension explained The Basic State Pension was replaced by the new State Pension in April 2016. Key facts Basic State Pension It had to be claimed; it wasn't paid automatically. You needed to have paid NI contributions for at least 30 years to get a full BSP. You got a proportionately...

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    Information and guidance

  • Basic state pension - Royal London for advisers

    Basic State Pension   Single Person Married Couple Date effective per week per annum* per week per annum* April 2019 £129.20 £6,718.40 £206.65 £10,745.80 April 2018 £125.95 £6,549.40 £201.45 £10,475.40 April 2017 £122.30 £6,359.60 £195.60 £10,171.20 April 2016 £119.30 £6,203.60 £190.80 £9,921.60...

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    Rates and factors

  • Death benefits pre 6 April 2015 overview - Royal London for advisers

    : whether or not the member was in receipt of their benefits when they died the type of pension the member was in receipt of (if applicable) the age of the member at date of death HMRC had a definition of the word 'dependant' and an individual must meet this in order to be paid a dependants pension...

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    Information and guidance

  • Salary Exchange - frequently asked questions - Royal London for advisers

    : What type of pension plan can salary exchange be used with? A: It can be used with any type of UK registered pension plan - i.e. individual or group personal pension/stakeholder or occupational money purchase/final salary schemes. The main point to remember is that there must be an employer willing...

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    Frequently asked questions

  • State benefits pension and manuals - protection - Royal London for advisers

    ...in every case. Business Income Manual Inheritance Tax Manual Trusts, Settlements and Estates Manual State pensions State Pension guide When the new state pension was introduced for those reaching pension age from 6th April 2016 it was intended to be much simpler than the system it replaced...

  • Autumn Statement 2015 - Royal London for advisers

    Autumn Statement 2015 George Osborne delivered the 2015 Autumn Statement on Wednesday 25 November. Our view It’s good news that the rumours of a halt to automatic enrolment have proved unfounded. It’s also good news that a decision on pension tax relief changes has been put off until the Budget...

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    Information and guidance

  • Finance Act 2008 - Royal London for advisers

    Finance Act 2008 The Finance Bill was published by the Treasury on 27 March 2008 and became an Act on 21 July 2008. Pension legislation introduced in the Act includes: Pre A-Day protection of tax-free cash This affects any member with an entitlement to more than 25% tax-free cash on their pre A-Day...

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    Information and guidance

  • Pension Ages - frequently asked questions - Royal London for advisers

    Pension Ages - frequently asked questions Q: What is the minimum age that retirement benefits can be taken? A: If the scheme rules allow it, it is be possible for benefits to be taken from age 55 or earlier due to ill-health. Q: What is the minimum age that GMP benefits can be taken? A: The minimum...

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    Frequently asked questions

  • Pre Budget Report 2007 - Royal London for advisers

    Pre Budget Report 2007 On 9 October 2007 Alasdair Darling delivered the 2007 pre-budget report. This report details changes that will affect pension schemes including the spreading of tax relief on employer contributions and the rules on inheriting tax-relieved pension schemes. A summary...

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    Information and guidance

  • 2009 Budget - Pension Credit - Capital Disregard - Royal London for advisers

    2009 Budget - Pension Credit - Capital Disregard The capital disregard in Pension Credit, and pensioner-related Housing and Council Tax Benefit, is to be increased from £6,000 to £10,000 in November 2009. Our view The amount of capital disregard has been £6,000 for several years. The increase...

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    Information and guidance

  • 60% tax relief on pension contributions - Royal London for advisers

    How to get 60% tax relief on pension contributions Has your client lost their personal allowance? Would you like to get them 60% tax relief on their pension contributions? Key facts A pension contribution for people earning between £100,000 and £125,000 gives an effective tax relief rate of 60...

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    Information and guidance

  • Contracting-Out Of The State Second Pension - Royal London for advisers

    Contracting-out of the State Second Pension It is no longer possible to contract-out of the State Second Pension (S2P) Important note Since 6 April 2012, it has not been possible to contract out of S2P using a money purchase or appropriate personal pension/ stakeholder plan, meaning it was only...

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    Information and guidance

  • Pensions liberation fraud - Royal London for advisers

    Pensions scams and liberation fraud Pension scams have evolved over recent years and adapted to the obstacles put in place by pension providers and their regulators. Key facts Usual signs of a scam Contact out of the blue. Promises of high /guaranteed returns. Free pension reviews. Access to your...

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    Information and guidance

  • Annual allowance - Royal London for advisers

    Annual allowance An annual allowance for pension savings applies each year, which is based on a pension input period. This limits the amount of tax privileges available on pension savings each year. Key facts Annual allowance is based on pension input periods. Pension input periods are now aligned...

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    Information and guidance

  • General and tools - Royal London for advisers

    General and tools Parental leave and pensions We are often asked how parental leave impacts workplace pension schemes in terms of funding in general, auto enrolment and salary exchange. This article will explain each of these. Parental leave and pensions Pensions scams  An explanation of pension...

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    Information and guidance

  • 2012 Budget Summary - Royal London for advisers

    2012 Budget Summary George Osborne delivered his third Budget on Wednesday 21 March 2012. Our view We're pleased that the Chancellor has managed to resist the temptation to tinker further with restrictions on tax relief and the annual allowance for pension scheme contributions. In fact...

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    Information and guidance

  • UFPLS explained - Royal London for advisers

    Uncrystallised Funds Pension Lump Sums explained One of the options available to individuals with money purchase benefits is to take an Uncrystallised Funds Pension Lump Sum (UFPLS). Key facts The individual must usually be over age 55. They must have some unused lifetime allowance. It is only...

  • Transfers explained - Royal London for advisers

    Transfers It is possible to transfer your pension fund to another plan. Safeguarded benefits The Pension Schemes Act 2015 introduced the concept of safeguarded benefits from 6 April 2015. It also placed a requirement on some individuals to take financial advice before they can give up safeguarded...

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    Information and guidance

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.