Pensions calculator advice important, says HSBC
www.moneynews.co.uk > Pensions calculator > Pensions calculator advice important, says HSBC
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Money News |
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Pensions calculator advice important, says HSBC
Tue 15th Feb 2011
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A source from HSBC has highlighted the significance of professional advice ahead of changes to pension tax relief allowances.
Head of investments at the company David Wells suggested certain guidance could help consumers avoid breaching new rules and having to pay the penalties.
Mr Wells made his comments after the firm unveiled research showing 60 per cent of high earners likely to be affected by the reforms do not know or care about the issue.
"These tax changes will impact a great many people and we are urging those people to seek professional advice," he said.
"Retirement saving is a complex but important issue"
From April 6th 2011, the threshold for pension saving attracting tax relief falls to £50,000 each year from £255,000.
Another HSBC study recently indicated high earners in the UK are set to spend 7.8 per cent more on household expenses this year than in 2010.
The most significant change was in relation to travel costs, which are predicted to jump up 64.8 per cent.
Click here for more pensions calculator news
Related News : Pensions calculator |
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Related News : HSBC |
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