Pensions, savings and investments

The decline in house prices has had a dramatic impact on the level of inheritance tax that is being paid.

Both employers and employees have stepped up their level of investment in defined contribution pension schemes over the past two years.

Savers aged over 50 now have the chance to invest more in tax-free ISA savings accounts.

The government’s pension scheme for lower income employees is not to be introduced fully until 2016, a year later than originally planned.

Employers will still have the right – for now – to ask employees to retire at the age of 65 following a judgement in the High Court.

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