When deciding how to receive your pension benefits, you face a choice between a lump sum and an annuity. Each option carries distinct tax implications that can affect your financial situation. A lump ...

Rachel Reeves has been warned that cutting the tax-free amount people can withdraw from their pension pots would be self-defeating and “hit responsible savers who have diligently put money aside”. The ...

Buying gilts (government debt) is another alternative to interest-bearing deposit accounts. Older gilts pay very low coupons — or interest — taxed at your marginal income tax rate. To compensate, ...

Dear Liz: Because of the Social Security Fairness Act, my wife got a huge lump sum check (catchup, I suppose) and will now get monthly Social Security benefits. This is good news and bad news, ...

To encourage you to put aside money for retirement, the Government effectively nullifies the tax paid on your earnings when it goes into a pension.