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Have you taken cash from your pension since 2015? If so, you may have overpaid tax, and be due a refund from HMRC. The new “pension freedoms” that the government introduced allow people to cash in their entire pension at once, after the age of 55. But the taxman will have applied the “emergency” tax…

The number of UK workers saving money into a pension has risen by 4.4 million. The government’s introduction in 2012 of “auto-enrolment” meant that employers had to automatically enroll their eligible staff in a workplace pension scheme. With contributions made to the scheme by both the employee and employer, it is estimated that this has…

New regulations next year will mean that pension companies will only be able to charge a maximum of 1% to people accessing their pension cash early. The cap on “exit charges” will come into place in April 2017, and companies who already charge less than 1% will not be able to increase their fees. People…

Update – 24/11/2016 – In yesterday’s Autumn Statement, Chancellor Phillip Hammond announced a review into the costs of the Triple Lock Guarantee. The Daily Mail Online reports – “Philip Hammond told MPs he would be compiling a major report into the impact that state spending on pensioners has on the health and social care of…

You may be able to boost your state pension, by deferring it rather than taking it earlier. And you can choose when to defer it, you don’t have to do it before you start taking the pension. This rarely mentioned option could boost your income in retirement by hundreds of pounds each year. BT’s website…

The Money Charity has warned that UK household debt is rising again, after remaining flat for a few years. The average British adult owes nearly £30,000 – in a combination of mortgages, loans and credit cards. And as inflation is likely to rise in the near future, it is recommended that borrowers should reduce their…

Many people are looking for ways to use their pension to access money early, before the age of 55. “Pension loans“, “pension release” and “cash in pension” are three terms that are often used by people who basically want the same thing – to get money from their pension early. If you are in this…

Is the death of Payday Loans approaching? The number of authorised payday-loan companies has dropped from 240 to just 60, and the value of loans made has fallen by 70% in the last 3 years. The tighter controls introduced in 2014-15, which drastically reduced the profit-margins of the loan companies, has been credited with making…

The number of people cashing-in their pensions is rising, but the amounts are getting smaller, new figures show. In 2015 the amount withdrawn averaged almost £20,000. But in 2016 the figure has fallen closer to £10,000. This maybe because people are cashing-in smaller pensions, or because they are taking a smaller proportion of their whole…