Pensions

3 December 2025

In the lead up to the Budget, many retirees opted to take a tax-free lump sum from their pension after a series of rumours that there would be cuts to the allowance.

But tax-free lump sums were not changed in the Budget, leaving some in an awkward position of now having a chunk of cash sitting in their accounts, with no need to spend it right away...

19 November 2025

Reports suggest reform of salary sacrifice pension schemes could be on the cards as the Chancellor chooses to dance around Labour’s manifesto promises to boost the public finances.

Although clamping down on salary sacrifice isn’t an explicit tax rise, many employees will see less in their pay packets and ultimately their pension pots too. And...

13 November 2025

A slash of tax-free cash is said to be off the table for this month’s Budget, according to a confirmation by treasury officials to the Telegraph.

Attacking tax-free cash at the Budget would have been a tough sell for the chancellor, raising little money and causing uproar from young and old alike.

It would also likely have led to further industrial...

6 November 2025

MPs from the Petitions Committee have told the Treasury its response to an AJ Bell petition was not up to scratch after the Government refused to commit to current policies on pension tax-free cash or tax relief.

The Treasury’s response followed a petition raised by AJ Bell, which called for a commitment to pension tax stability. This primarily...

30 October 2025

How much money you need to save in your pension is an age-old question, and notoriously hard to answer.

Even those that are at retirement age aren’t able to perfectly estimate what they’ll need. There could be unexpected health issues, home expenses, or market volatility that you weren’t able to anticipate.

These numbers get even more vague when we...

22 October 2025

Pensioners account for almost half (44%) of all taxpayers facing an HMRC bill for interest earned on their cash savings, new data obtained by AJ Bell shows.

A freedom of information request from the investment platform shows HMRC expects 1,160,000 people over state pension age to incur an income tax liability on savings this tax year (2025/26).

It...

17 October 2025

Last year’s increases to capital gains tax (CGT) were perhaps not as bad as feared, but calls for reform have restarted as another budget looms. It’s a good time to consider the financial planning threats and opportunities arise.

Higher rates of capital gains tax were an unwelcome addition to the burden shouldered by investors, who already faced...

15 October 2025

The last years of your career aren’t something that’s usually associated with uncertainty. In many cases, you’ll have been at the company for years and bring a wealth of knowledge that has earned you status as a senior member of staff.

But often, a senior status comes with a fatter pay cheque. And in the event of a round of layoffs, this might push...

3 October 2025

AJ Bell is petitioning the government to make a public commitment not to alter key pension tax incentives – tax free cash entitlement and tax relief – for at least this parliament.

If you share this view, add your name to AJ Bell’s petition, with 10,000 signatures forcing a government response.

When people save in a pension they enter a tax pact...

2 October 2025

With the Budget fast approaching, the rumour mill is going into overdrive over whether there will be changes to pensions tax incentives from November.

Those who have built up larger pension pots must feel somewhat caught in the headlights. But trying to make decisions based on policy rumours becomes a guessing game.

Whether and when to take tax...

2 October 2025

Even though you receive the state pension from the government, it still is classified as taxable income. The full state pension is currently £230.25 a week, equivalent to £11,973 a year. This is based on 35 full qualifying years of National Insurance contributions. What you'll get will depend on your own record, and the number of qualifying years...

22 September 2025

Annuity rates are looking much juicier than they were thanks to rising bond yields, but retiring pension savers don’t seem to be taking much notice. When George Osborne introduced the pension freedoms a decade ago, the proportion of people buying an annuity at retirement plummeted from 90% to around 10%. It has remained close to that level ever...

17 September 2025

Pensioners will be rejoicing at the prospect of an inflation-busting rise to the state pension from April next year as a result of the triple lock guarantee, with the latest Office for National Statistics (ONS) earnings growth figure coming in at 4.7% for the period between May and July of this year.

The triple lock guarantee means that the state...

11 September 2025

From 1 September, HMRC has made it tougher to claim pension tax relief, requiring everyone to evidence their claim for higher amounts. Previously, the requirement to evidence a claim was only placed on those paying in more than £10,000.

Those who have a pension in a ‘relief at source’ scheme or a personal pension like a Self-invested personal...

11 September 2025

Life tends to take shape in your 30s, with career progression, the start of a family, and perhaps your first home. And while there’s a lot going on in the here and now, it’s also a vital time to start investing in your future self.

One of the easiest ways you can do this is through a pension. For many, a pension will be their main source of income...

10 September 2025

While lots of people in their 60s will either have retired or plan to retire imminently, this is by no means a given. Brits are living longer, healthier lives than ever before and many choose to keep working – either full or part-time – well into their 60s, 70s and even 80s.

Whatever your intentions, it’s important to keep up with pension policy...

10 September 2025

Self-invested personal pensions (SIPPs) allow plenty of choice when it comes to investment options. This is a perk that many AJ Bell customers have taken advantage of, putting their savings into a variety of stocks, funds, investment trusts and ETFs instead of the cookie cutter pension investment options.

However, choosing investments for your...

10 September 2025

Planning for your retirement is likely not your top priority in your 20s. You might be facing hefty university loans, trying to support yourself on an entry-level salary, and figuring out how you want to set up your life. But ironically, your 20s can be the most impactful working years for creating a comfortable retirement.

Thankfully, you can...

10 September 2025

In your 50s, retirement might be just over the horizon. All the years of saving for a goal in the distant future will suddenly start to pay off for avid investors. But now, there will be a new consideration: How do you manage your retirement savings, and when and how can you access them? Here are the main things you need to think about with...

10 September 2025

You’ve worked out your state pension age, checked for any gaps in your National Insurance record and know what amount you’re due to receive. But how do you get your state pension paid and is there any benefit to deferring it?

Although you should get a letter with an invitation code around four months before you reach your state pension age, you’ll...