Money Talk

SEPTEMBER 28, 2023

Below are six take-aways about some recent seminars that I attended about longevity risk: Ticking Time Bomb - One speaker called longevity risk a “ticking time bomb” in financial planning. For example, instead of two Social Security checks, there will be one, along with a reduced (survivor) pension benefit.

Pension 195

Pension Pension Benefit Insurance Taxes 195

Money Talk

SEPTEMBER 12, 2024

This post describes five changes in income and expenses that widowed persons can expect: Reduced Income - I heard this example at a recent seminar. If the husband dies first, the wife is left with $1,250 (50% of husband’s pension), $800-wife’s pension, and $2,000 (highest Social Security) for income of $4,050 ($48,600 annually).

Pension 163

Pension Pension Benefit Taxes Entertainment 163

Employee Benefits

MARCH 4, 2024

From April 2023, the LTA charge was removed and pension benefits have been taxed as income with no additional penalty since then, but the formal abolition of the LTA required a raft of new legislation which is now complete, so this will take place from April 2024.

Pension 59

Pension Pension Benefit Employment Taxes 59