Timothy D. Calkins, CFA’s Post

Starting a pension on or after 1 June can offer tax advantages. In a webinar, Aaron Dunn and Tim Miller from Smarter SMSF explained that this timing avoids the need for pro-rata minimum pension payments for that financial year, ensuring the fund qualifies for the exempt current pension income (ECPI) deduction. They highlighted the importance of establishing a series of interconnected payments to qualify as an income stream. This is crucial for audit purposes to avoid payments being treated as lump sums. https://lnkd.in/dBc_Q-VF #SMSF #PensionStrategy #TaxPlanning #ECPI #Superannuation #FinancialPlanning #RetirementPlanning #TaxStrategy #SuperFunds #PensionPayments #SMSFCompliance #FinancialYearEnd

This month's Pension Indicator is live: https://hubs.ly/Q02BCfcf0 The May Review was written by Clearstead and co-authored by USI. #Clearstead #PensionIndicator #pensionplans #plansponsors #fundedstatus

So you're faced with a choice: take the money now or wait for your pension to kick in. What do you do? #financialplanning #financialplanner #RetirementPlanning #PersonalFinance https://lnkd.in/eCyCBGc4

"By providing the maximum benefits permitted under the Income Tax Act, an IPP (Individual Pension Fund) generally allows higher tax-deductible contribution amounts than those permitted under an RRSP. For [business owners] who wish to maintain their pre-retirement lifestyle when retired, IPPs are an effective way to accumulate tax-sheltered funds." https://lnkd.in/gqEsFM8Z

So you're faced with a choice: take the money now or wait for your pension to kick in. What do you do? #financialplanning #financialplanner #RetirementPlanning #PersonalFinance https://lnkd.in/eZrKrruP

So you're faced with a choice: take the money now or wait for your pension to kick in. What do you do? #financialplanning #financialplanner #RetirementPlanning #PersonalFinance https://lnkd.in/eMyeju9E

📣 Are you a member of a UK Defined-Contribution Pension? 📣 Did you know that the FTSE100 has only grown by 7.36% since March 2019 (5 years) whereas the S&P500 over the same period has grown by 84.90%? That's a lag of over 77%! UK Finance Minister Jeremy Hunt has pushed for this with 10 defined contribution (DC) pension funds, including Aegon, Legal & General, and Aviva, committing to investing at least 5%, or about 50 billion pounds in UK companies by 2030. Stay informed about how your UK pension scheme administrator is "voluntarily" committing to investing more of your pension fund into the UK market. Check out the details here: https://lnkd.in/dMqkD36A #UKPension #DefinedContribution #Investing #UKMarket #FinanceMinister #PensionFunds #UKCompanies

In this first installment of a three-part series on transferring risk from defined benefit pension plans, we highlight the different approaches to these complex but increasingly popular transactions. Read the latest recommendations from NEPC's Richard Chari and Jason Hirschauer here: https://hubs.ly/Q02hVrx50

Case Study: How We Helped Mr Squires Win His Pension Mis-selling Claim   Meet Mr Squires. He is an ex-mineworker who fell victim to pension mis-selling. Here's how Money and Me Solicitors helped him secure the compensation he deserved:   The Situation: In 1991, Mr Squires acted on what has now been proven to be unsuitable advice and transferred his Miners Pension Scheme (MPS) into a Personal Pension arrangement with Canada Life. The amount transferred was £2,367.86. Our Approach: Having been concerned that the advice was not in his best interests, Mr Squires appointed Money and Me Claims (MMC) to investigate his situation on 20th January 2020. MMC then compiled the necessary documentary evidence from all the relevant third parties to build the legal argument and repeatedly liaised with Canada Life until a decision was made.   The Outcome: On 24th November 2021, Canada Life confirmed they had accepted liability for Mr Squires’ losses. Despite only a relatively small amount being transferred from the MPS, it was confirmed that the compensation required to put Mr Squires in the financial position he would have been in, had he not transferred his MPS, would be £66,675.66. Mr Squires had no idea that he had been mis-sold a pension, and his case, like many thousands of others, highlights the importance of seeking professional advice.   At Money and Me Solicitors, we believe in helping victims of pension mis-selling to get the compensation they deserve and to which they are entitled. We also believe there are hundreds of thousands of Mr Squires out there, blissfully ignorant of the losses they have suffered.   So, if you’ve transferred your Defined Benefit/Final Salary pension, or believe you’ve been a victim of pension mis-selling, or even if this case study has caused you to reconsider, click the link below to fill in the eligibility form, or contact us on 01925 859625. Money and Me Solicitors can investigate the circumstances behind your transfer, and if we believe you have a case, we can help you to pursue it. We have won compensation for our clients in 99%+ of the cases we have pursued and the average award is almost £80,000.  Money and Me Solicitors Limited are authorised and regulated by the Solicitors Regulation Authority under Authorisation number: 670274     https://lnkd.in/eCjhNEjk

Do you have the option to buy back pension credits? It seems expensive, but the benefits could be worth it. Let's look at what buybacks are and the 6 factors you MUST consider when making this important decision. https://lnkd.in/gTpAP4Me