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How Ready Are You for Retirement?Written on April 9, 2026 by Kirk Rice LLP
Key Points Being ready for retirement involves more than having a pension pot. A clear plan, multiple income sources, and flexibility around spending all contribute to long-term financial stability. Pensions often form the foundation of retirement income, but combining them with other investments such as ISAs may help create a more tax-efficient and sustainable income […]
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What else is happening whilst everyone is worrying about inheritance tax on pensions?Written on November 14, 2025 by Michael Powell
Key Points From April 2027, unused pension funds will be included in your estate for IHT purposes under the Finance Bill 2025–26. The Pensions Bill 2026 introduces measures intended to improve outcomes for savers, including DC scheme consolidation and small-pot mergers. A new Value for Money framework aims to assess schemes on overall value, not […]
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Should You Choose a Level or Increasing Annuity?Written on July 24, 2025 by Kirk Rice LLP
This overview explains the key points you need to consider. Always get professional advice before making your final decision. How an Increasing Annuity Works An increasing annuity starts with a lower income but grows each year, often by a fixed percentage such as 3%. Over time, this helps protect your purchasing power against inflation. If […]
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How To Top Up Your State PensionWritten on February 10, 2025 by Kirk Rice LLP
This is a great way to build pension provision for retirement. You need a minimum of 10 qualifying years of national insurance to receive any state pension at all, and at least 35 years to receive the full state pension. You can pay voluntary contributions (also known as Class 3) to receive extra years. You […]
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Pensions and Inheritance Tax (IHT): What’s the Deal?Written on January 13, 2025 by Kirk Rice LLP
After years of flying under the IHT radar, the Chancellor has decided it’s time for pensions to join the inheritance tax (IHT) club. The Current Landscape: Pretty Tax-Efficient Since 2015, pensions have become a cornerstone of inheritance tax (IHT) planning. Why? Because they’re typically excluded from your taxable estate. In simple terms, pension death benefits […]
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End of Year Tax Planning: Pensions, IHT & ISAsWritten on January 7, 2025 by Kirk Rice LLP
Key Points Pension contributions attract tax relief, employer funding, and tax-efficient growth, with up to 25% usually available tax-free. From April 2026, Agricultural and Business Property Relief will share a £2.5 million 100% IHT allowance, with excess qualifying at 50%. Married couples and civil partners can transfer unused relief, potentially passing up to £5 million […]
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The 5 Biggest Pension MisconceptionsWritten on September 13, 2024 by Kirk Rice LLP
Many younger people don’t tend to think about later life finances. But a little effort put into understanding and contributing to pensions early on, can set them up for a comfortable later life. Those closer to retirement age may hold preconceptions about pensions that could lead to them not appreciating their full value. Below our […]
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