Only 14% of Self Employed Saving Into Pension
Here at Umbrella Companies we talk a lot about self employed pensions. And for good reason, because most of you ignore it.
retirement
How much are umbrella company contractors saving for their retirement?
It’s not only small business owners who are going to have to keep on working past normal retirement age, according to the Pensions Policy Institute.
Rise in number of older Brits starting a business
New research from the Clydesdale and Yorkshire banks shows that an increasing number of older Brits are foregoing retirement and setting up a business instead.
Can we achieve fiscal sustainability without raising taxes?
The Office for Budget Responsibility says that tougher austerity measures and higher taxes are needed if Britain is to achieve long term fiscal sustainability.
Should flexible working be the norm not the exception?
Umbrella contractors will be interested to learn that Maria Miller, the Parliamentary Under Secretary of State for Work and Pensions, has said that flexible working should be thought of as a normal way of working.
How much income will you need when you retire?
There is a substantial gap between the anticipated incomes of men and women in retirement, according to the Class of 2011 study from Prudential. Men expect an average income of £19,400 per year when they retire, whilst women anticipate just £12,200.
The coalition’s “monster” will cause problems for employers
Employers could have problems getting to grips with the new overly complex regulations regarding employees’ tax avoidance schemes that have been detailed in the Finance Bill, according to tax advisers.
Finance Bill 2011 tackles disguised remuneration
Employee benefit trusts and employment finance retirement benefits schemes are the latest to be targeted in proposed Treasury regulations.
Freelancers must plan ahead
Umbrella company contractors should start considering their retirement now. Recent research, carried out by Defaqto, shows that 44% of adults in the UK are not confident that they will be able to sustain a reasonable standard of living once they retire. That’s a rise from 38% last year.
Auto-enrolment pension scheme comes under fire
The auto-enrolment pension scheme will cost SMEs and umbrella companies an average of £2,550, but the true cost of administering it could be horrendous, warns the FSB.
Clegg gets tied in knots over excessive regulatory detail
The IoD is calling on the coalition to reduce the excessive burden of red tape that is bogging down UK enterprises and umbrella companies.
Those nearing retirement want more taxation advice
A new survey by Just Retirement has found that workers who have retired or are nearing retirement would like to receive more guidance on taxation and other issues. This can include those working through umbrella companies.
Should umbrella company contractors be saving or spending?
Last week, the Bank of England controversially hinted that we should be spending rather than saving.
Young umbrella company contractors need to consider pensions
Young umbrella company contractors need to be encouraged to save for their retirement, but in order to make the prospect appealing, the UK pensions industry need to undergo radical reform, according to George Ladds from the Fair Investment Company.
Have you considered a contractor pension yet?
It was recently reported that many people are not prepared for the day to day financial changes that take place on retirement and one reason for this could be that we simply do not believe that 65 is old.
Umbrella company contractors need to consider their retirement
95% of people, including contractors, nearing retirement age aren’t ready for the financial implications it will bring, according to MGM Advantage.