Posted by Redego | Posted in Articles | Posted on 04-11-2009
On 27th October a new ISA limit came into force for the over 50’s which allows you to invest up to £10,200 in a tax efficient ISA. In booming markets this gives baby boomers the chance to cash in before the new limit is rolled out to all investors in April 2010.
Posted by Redego | Posted in News | Posted on 06-10-2009
Conservative plans to raise the state retirement age, up to ten years earlier than planned, will be outlined by shadow chancellor George Osborne later.
If the Tories win power they will set up a review to look at raising the pension age for men to 66 from 2016 at the earliest, to help tackle UK debts.
They have not discounted a rise in pension age for women towards 66 but have ruled out doing so by 2016.
Ministers plan to raise the pension age to 66 between 2024 and 2026.
‘Complexities’
Bringing the move forward would mean many more people than previously expected, particularly those aged between 49 and 59, having to work a year longer before qualifying for a state pension.
Conservative Party sources say the change would save £13bn a year from the budget deficit, about 0.75% of GDP each year.
Conservative plans to raise the state retirement age, up to ten years earlier than planned, will be outlined by shadow chancellor George Osborne later.
Posted by Redego | Posted in News | Posted on 06-10-2009
A change enabling millions of savers aged over 50 to increase the amount deposited in a tax-free Individual Savings Account (Isa) has come in.
The amount people can save in an Isa has now risen from £7,200 to £10,200, of which half can be saved in cash and half in stocks and shares.
The new limit, which was announced in this year’s Budget, is for anyone born on or before 5 April 1960.
For everyone else, the limit will rise from 6 April 2010.
“I am determined to help savers, because while low interest rates have helped millions of homeowners, I also know that they have hit those who rely on their savings to get by,” said Chancellor Alistair Darling.
Change
Isas were introduced 10 years ago by then-chancellor Gordon Brown in an attempt to encourage UK residents to get into the savings habit.
A change enabling millions of savers aged over 50 to increase the amount deposited in a tax-free Individual Savings Account (Isa) has come in.
Posted by Redego | Posted in News | Posted on 29-09-2009
A judge has called time on the Government’s statutory retirement age of 65, ruling that in the current economic climate it was unlikely to be lawful.
In a test challenge, Mr Justice Blake ruled that he did not see how 65 could stay as the default retirement age when the Government reviewed it next year — although it would still be lawful for employers to sack workers when they reached that age until the law was changed.
In a huge boost to campaigners who want the age scrapped, he said: “I cannot presently see how 65 could remain as a DRA \ after the \ review.â€
His comments came in a ruling on a challenge to the retirement age brought by the charities Age Concern and Help the Aged, together with the Equality and Human Rights Commission.
A judge has called time on the Government’s statutory retirement age of 65, ruling that in the current economic climate it was unlikely to be lawful.
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