Backto60 Campaign reaches High Court

Backto60, along with other campaign groups like Women Against State Pension Inequality (Waspi), are arguing against the perceived inequality and unfair treatment of women born in the 1950s who have experienced changes to their state pension age.
Backto60 is requesting the state pension age to kept at 60 for women born in the 1950s, but such a decision would cost £77bn and has previously been dismissed by the government.
to read the full article published by FT Advisor please follow the attached link.

https://www.ftadviser.com/pensions/2018/08/02/women-s-state-pension-campaign-reaches-high-court/




New Payment Gateway

Pay your invoices via our website using our NEW Payment Gateway

For your convenience you can now pay your invoices via our website.

You can make a credit card payment 24 hours a day, 7 days a week

Paying by credit card is totally secure and utilises the latest secure technology features and complies with the Payment Card Industry Data Security Standard – PCI DSS therefore you always have peace of mind when making your transactions.

To pay online simply go to our website and select the PAYMENTS tab.

To help, we have also updated the How to Pay section of our invoices to point you to our Payment gateway.

Complete the required fields. Once payment is made, you will receive an email verifying your transaction.

Of course we still offer the ability for you to pay your invoices like you may have done in the past such as via cheque and EFT.













Class 2 Rate extended until 5 April 2019!

Following a telephone conversation with HMRC last week we can confirm that the Class 2 rate has been extended for the 2018/2019 tax year.

This gives those who have not yet applied, time to quickly apply to receive the Class 2 rate.  Those who wish to purchase an additional year will receive a saving of approximately $1000 on the 2018/2019 tax year.

Good News all round.  But DO NOT delay.  Class 2 rates ARE being abolished and you will need to ACT NOW to secure the best possible rate.




Should I combine my pensions for a simpler retirement?

How long have you been in Australia? How many UK Pensions do you have? Have you been receiving regular updates on your investments?

Are your pension statements filed away until retirement?  Did you know that the administrator or personal pension who was looking after your pension when you migrated, may not be the same administrator or insurance company who is currently looking after your pension.  Did you know that upon retirement the onus is on you to provide evidence of your membership!

It’s  very important to get regular updates from the UK and keep in regular contact with any updates in your circumstances or personal details.  They will always contact you via your last known address on their records.  They may not even notify you when they change administrator.

As you may be aware if you are under 55 then you are unable to transfer these funds to Australia.    However you still have options, especially if  consolidation is a key priority for you.

Imagine all of your UK funds in one place, with one logon, one password and one adviser, who is based here in Australia.

Our financial advisers can recommend the right product for your UK Pensions consolidation.  You also can choose to hold your funds in GBP or AUD, You can also invest in a range of Australian portfolios while you wait until you can roll the funds over to an Australia QROPS at age 55.

If you are over 55, consolidation prior to transferring might be your only option, with the reduction in contribution caps from July 2017 it is important to consider the caps prior to transferring and by consolidating the funds it is easier to move each tranche without worrying that the funds are coming from several source at different times and the remaining funds can be managed until the tax year of transfer.

PTS are always happy to investigate all of your options.  Call the PTS on 08 9233 9269 or email pensions@ptspecialists.com.au

Our initial investigations are provided free of charge and are provided to update you with information and current options for your UK Pension Benefits.

 

 




UK Autumn Statement – Budget 2017

It was a relief this morning to review the Budget and it would appear that UK Pensions and QROPS have not received any major changes in the UK Budget.

Positive news for those with larger balances, the lifetime allowance (LTA) will increase by £30,000 from £1 million to £1.03 million from April 6 2018,.

The UK Personal Allowance is on the rise from £11,500 to £11,850 in the 2018/2019 tax year.

If you are interested in other major announcements from the UK Budget a summary can be found by following the attached link: https://www.gov.uk/government/news/autumn-budget-2017-25-things-you-need-to-know

 







Introducing our video infomercials

 

The very first video in our series of pension explainer videos is a very short introduction to Pension Transfer Specialists.  All of our videos will be relatively quick. The first being 45 seconds!  Be sure to share the video and subscribe to our newsletter to receive short infomercials.

They will easily explain the services we offer, together with short explanations, common problems, QROPS rules, options for transferring. They will compare features and benefits of pension transfers and will  be short, informative and easy to understand!

We will also be releasing short videos to explain how to maximise your State Pension.  Who can claim?  When can you claim?  How much is the pension?  How can you achieve more!

All these questions and more will be explained in the video’s coming soon.

We would love to hear from any expat who has questions regarding their UK Pensions.

Call now 08 9233 9269 or email pensions@ptspecialists.com.au