View more on these topics

Jelf gives initial thoughts on the chancellor’s 2014 Autumn Statement

Jelf Employee Benefits has given its initial thoughts on the chancellor’s 2014 Autumn Statement. The company is seeking to isolate the sections of the speech (and the supporting document) that are relevant to the employee benefits debate. The first such area is pensions related.

It’s really clarification of something that we were aware of anyway, but good news in so much as it removes another perceived barrier to saving in the UK, thus making workplace savings even more valuable to the end user.

The chancellor said: ‘From next April, we will trust people with control over their own pensions. In this Autumn Statement, I confirm that the 55 per cent death tax that currently applies when you pass an unused pension pot on to your loved ones will be abolished.

‘People will be able to pass on their pensions to their loved ones tax free.

‘I can also tell the House today that we will ensure that people who die before the age of 75 with a joint life or guaranteed term annuity can pass that on tax free too.

‘And next week we will publish the market-leading rates on our new 65-plus pensioner bonds, which will be available from January.

‘Our £15,000 New ISAs are hugely popular with savers too. Next April, we will increase the limit to £15,240.

‘But, Mr Speaker, we will do something more.

‘At the moment, when someone dies, the savings in their ISA lose their tax-free status and their spouse starts paying tax on that money.

‘From today, I can announce that when someone dies, their husband or wife will be able to inherit their ISA and keep its tax-free status. Pass on your ISA tax free. Pass on your pension tax free.’

Some positive news there. This might also be perceived as another small step towards levelling the playing field between pensions and ISAs.

There will be more on the statement as we work through the speech and documents.



The shortlists for the Mortgage Strategy Awards are out now

The biggest event in the mortgage calendar, the Mortgage Strategy Awards, is just over 10 weeks away and the excitement is building. We have been through the nominations and judging process and today it gives me great pleasure to announce that the shortlists can now be viewed on our awards site. You can see the […]


Letters: Lending into retirement has some bigger issues

Star letter Lending into retirement has bigger issues than those raised in Marketwatch (3 December), which pointed out that lenders find it difficult to predict the size of a borrower’s pension pot, among other issues. The biggest issue is a joint mortgage. There are a number of reasons for this: first, in the event of […]

Health - thumbnail

Healthcare predictions for 2015 from Jelf Employee Benefits

The continuing fall-out from the Competition and Markets Authority’s (CMA’s) review, the rise of the private GP and digital engagement will be the primary focuses in the private healthcare industry during 2015, according to Iain Laws, managing director, healthcare and group risk, at Jelf Employee Benefits.


News and expert analysis straight to your inbox

Sign up

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now