Government review of state pension age

Work until you’re 75 or even 81 under Government review of state pension age

Possible age hike comes as minister hints at pensions tax raid on middle-class savers
March 2016 – By Steven Swinford, Deputy Political Editor http://www.telegraph.co.uk/

Millions of people could be forced to work until they are 75, the Government has hinted as details of a review into the state pension age were published.
Ministers have announced a radical review of the pensions regime amid concerns that he current system is not “affordable in the long-term”.

The review will be chaired by Sir John Cridland, the former head of the Low Pay Commission, and will assess whether the current pensions system is “affordable in the long-term”.

HOW MUCH YOU CAN PAY INTO YOUR PENSION

• Your contribution limits for the tax year 2015/16
• You can contribute as much as you earn in a year, up to £40,000 a year
• You can also use HMRC’s “carry forward rules” to use the past three year’s pension contribution limits – if you haven’t already
• nce you start drawing from your pension your annual limit reduced to £10,000
• he lifetime pension limit is reducing from £1.25m to £1m next year

Read more on Government review of state pension age

 

 

The post Government review of state pension age appeared first on Alconbury Trust.

from Alconbury Trust http://www.alconburytrust.com/government-review-of-state-pension-age/