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News
Retirement savers hit with £87m tax bill after cashing in pension pots
3+ hour, 53+ min ago (283+ words) UK retirement savers fully cashing in pension pots worth £100,000 or more handed over a total of at least £87m in tax in six months, according to analysis of FCA data by Standard Life. This number also represents a 20 per cent year-on-year…...
Mylo tracks down £135m in lost pension savings
4+ mon, 4+ day ago (223+ words) More than £135 million in pension savings has been consolidated through Mylo, as digital tools help UK savers reconnect with lost pots. The app, backed by Aegon, has enabled over 11,000 pension transfers within six months of launch, with a further 10,000 in…...
Million more workers to lose out on salsac changes - OBR
5+ mon, 2+ week ago (221+ words) Budget changes to pension salary sacrifice, expected to raise £4.8bn, could affect far more workers than the 3.3 million previously identified. From 2029/30, any employee pension contributions over £2,000 made via salary sacrifice will be subject to employer and employee National Insurance contributions. Government…...