New research [1] has exposed the staggering impact of the gender pension gap. The study shows that women have smaller pension pot sizes in every age bracket, and the situation worsens the closer retirement gets. Worryingly, women, on average, retire with less than half the income of men. Reduction in amounts paid into pensions The amount
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From 6 April 2022, no-fault divorce came into effect in England and Wales. No-fault divorce is a long-awaited revolution in family law, finally removing the need for blame as a basis for divorce. The result is that the only ground for divorce is that the marriage has ‘irretrievably broken down’. No one enters into a
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When looking at the Lifetime Allowance things are not as simple as they seem. The case study below looks at some of the things to consider. Mr Bloggs is a 57-year-old consultant surgeon with the NHS. His wife is 52 years old and works for a pharmaceutical company, although she also worked within the NHS.
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Using pension drawdown in retirement offers lots of flexibility and the potential to keep your pension growing. However, the tax on pension drawdown can get very messy. In many cases, HMRC tax the first pension drawdown payment incorrectly. Having to sort this out can kick start months of toing and froing with HM Revenue and
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