Retirement newsletter

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We send out a retirement eViewpoint newsletters each month, enabling you to keep up-to-date with the latest fund news, including:

  •  Chelsea product news
  •  changes to pension rules
  •  launch and update news on VCTs
  •  market views
  •  investment guides

 

Articles

Crowdfunding Bonds

At the end of last year, UK interest rates doubled from 0.25% to 0.5% which, while still a small number relative to history, marks the first time they have risen for more than a decade. And, with global growth accelerating, many expect this trend to continue.

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How much can I put into my pension?

April 6 2010 was the last time that the lifetime allowance increased but, as of earlier this month, we are now on the move back up. The lifetime allowance is now linked to CPI and, while we are quite a way off of the £1.8m from 2010, the new lifetime allowance of £1,030,000 is moving in the right direction.

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Lifetime allowance

From 6 April 2018, the pension lifetime allowance will increase to £1,030,000. This is an increase of 3%, in line with the current rate of inflation (according to the Consumer Prices Index, or CPI). Going forward the pensions annual allowance will continue to rise, in line with CPI, so we could see a healthy lifetime allowance in years to come.

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Case study

As you are hopefully aware, Chelsea spokespeople appear in the national press commenting on investments and we are often asked if we have any clients willing to be a case study. 

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VCT season starts early

With the Patient Capital Review coming out this November, there have been rumours that HMRC may cut the income tax relief received by VCT investors down from 30% to 20%.

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New VCT Rule Changes?

There are rumours circulating within the VCT industry that rule changes could be around the corner, specifically in the upcoming Autumn budget and Patient Capital Review.

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Why might a VCT be right for me?

Venture Capital Trusts (VCTs) are traditionally purchased by high net worth individuals who are typically in a higher tax bracket. The reason being that VCTs are highly tax-efficient investments, giving the buyer the advantages of:

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Tax relief announcement

In 2015, in an attempt to reduce the £21bn annual cost of personal tax relief, the then-chancellor George Osborne set his sights on up front pension tax relief for higher earners.

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VCT update - what's opening?

We have made it to our Great British summer – the birds are singing, the sun is shining (for now...) and VCTs are slowly coming out of hibernation to launch top-up offers for investors wishing to enjoy their 30% income tax relief.

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Invest earlier in the tax year

Did you know that by investing at the beginning of the tax year, you could benefit from more interest on your investments than if you invest at the end of the tax year.

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Pension deadlines for tax year end

Do you want to invest into your pension before the end of the 2016/17 tax year to utilise this year's tax relief? If the answer is yes, please download the relevant form below and return it to us in the office.

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Benefit from an increased allowance before April 2017

From April 2017, the money purchase annual allowance (MPAA) will be reduced from £10,000 to £4,000. This means that anyone who has flexibly accessed their pension income will be limited to saving £4,000 a year (£3,200 before tax relief) into a personal pension, without triggering a tax charge. This has been put into place to stop individuals recycling tax relief.

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Treat yourself this Christmas

Christmas is a time to relax with family and maybe get some respite from the long commutes and stressful inboxes, it's the same with retirement. So, treat yourself this Christmas and invest in your future. Better still, let the government top up that investment.

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Change to EasySIPPs

Following the referendum result earlier this year, a number of property funds closed to trading, meaning that you could not invest or sell your holdings in certain property funds. Off the back of this we removed the Henderson UK Property fund from the EasySIPPs.

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Changes to EasySIPP portfolios

Following the dealing suspension of some of the property funds, including the Henderson UK Property fund, we have replaced this fund within the Cautious, Balanced Growth and Aggressive EasySIPP portfolios.

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Post Brexit pension review

So, we have chosen to leave the European Union, and regardless of which way you personally voted, it is time to roll up our sleeves and get on with it. When it comes to saving for retirement, the good news is there aren't any major changes to personal pensions anticipated. However, certain sectors are expected to fare better than others, at least in the short to medium term.

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Recommend a friend

Chances are you already hold a pension and/or Venture Capital Trust (VCT) with Chelsea so you are actively saving towards your retirement. Auto-enrolment rules through employers mean that even more people are now saving, but do you know someone that isn't? Or maybe someone that could be saving more in a private pension?

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Chelsea funds

A new part of the business that we are hoping to launch is a range of Chelsea funds. These would be multi-asset funds and would have similar asset allocations and risk profiles to our current suite of EasySIPP portfolios.

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Other changes in 2016/17

Lifetime allowance reduced from £1.25m to £1m The lifetime allowance has now been reduced to £1m. If you have accumulated over £1m in your pension you may like to think about applying for individual protection. You can find out more here.

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Budget update

There had been some worrying rumours that tax relief contributions would be cut for higher rate tax payers and that the 25% tax free lump sum would be abolished. Happily, they were unfounded, at least for the time being.

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