Retirement and Pensions In The UK: The Ups And Downs
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Retirement and Pensions
In The UK:
The Ups And Downs



From October 1st on, all the employees over 22 earning at least £8,105 per year will have to contribute money to pensions. The idea behind this scheme is to make workers save money for their retirement instead of relying on the government to provide them with money after they finish working.


The downs

With the average life span increasing and a lot of people moving into care homes UK at a certain age, the measures are considered fair by a number of politicians and public figures including TUC leader Brendan Barber who said that trade unions were battling to make employees contribute to retirement finances of workers for a long time.

However, not all of today's pensioners and working people are happy with the retirement policies. Some pensioners consider themselves "betrayed" by the government since the so-called "Granny tax" which left people not as protected from tax as they expected to be. The changes are estimated to save the government £1 billion by 2015, while 4.41 million people will end up having more financial troubles.

Nigel Green, chief executive of the deVere Group, commented, "The scrapping of age-related benefits, tax changes, quantitative easing, and low interest rates have meant the pensioners and those retiring imminently have paid a disproportionately high price as a solution to the current economic crisis is sought".

The ups



The more financially savvy have taken steps to move their retirement funds out of the UK. According to Nigel Green, pensioners are seeking ways to move their funds "into jurisdiction where they will be taxed less and where buying annuity is not compulsory".

One more great way for the retired to protect themselves from the financial downturn is investing in shares of successful large businesses that are likely to increase their earnings in the years to come. In this case, even modest investments may result in considerable dividends in a few years.

To benefit from dividends in the future, it's worth doing a little research to identify the best possible shares. Studying the lists of choices of top professional investors such as Neil Woodford is one of the most effective ways to do just that.





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