Is it worth starting a pension at 50?


first_imgPension value after 17 years “This Stock Could Be Like Buying Amazon in 1997” I’m sure you’ll agree that having an extra £43k when you retire could come in pretty handy.If you’re prepared to do the extra research necessary to invest in individual shares, then you could potentially see much bigger returns on your cash.Current pension rules allow you to start withdrawing cash at age 55. If you’re already 50, your money won’t be locked away for long. I’d get started today. £215,899 +£43,179 Roland Head has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. See all posts by Roland Head Our 6 ‘Best Buys Now’ Shares £259,078 Enter Your Email Address Is it worth starting a pension at 50? I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.center_img I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! If you’ve hit 50 and haven’t started a pension, then you may think it’s no longer worth starting one. However, if you can afford to set aside some cash each month, I think a pension could be one of the best ways to invest at this age. Here, I’m going to explain why I’d definitely still start a pension at 50.50 is the new 40!At 50 you’re still relatively young. You have another 17 years until you reach the new State Pension age of 67 that will apply to people born between March 1961 and April 1977.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Here at the Fool, we’d generally recommend a minimum of five years for stock market investments, ideally closer to 10. In my view, 17 years is a very comfortable timescale for investing in stocks.You will receive free cashIf you can spare some cash each month, you could just save into a Stocks and Shares ISA. But if you did this, you’d miss out on one of the biggest benefits that pensions provide — free cash.The reason for this is that the government provides tax relief on money paid into your pension. The way this works is that the taxman will credit the income tax you pay into your pension each year, up to certain limits.In the 2019/20 tax year, you can claim tax relief on up to 100% of your annual earnings, or a maximum pension contribution of £40,000. So if you earned £30,000 and paid £20,000 into your pension, the government would credit another £4,000 (20%) into your pension account.If you’re a higher rate taxpayer, you’ll receive matching tax relief for income on which you’ve paid the higher rate of tax. So in some cases, your pension contributions could be boosted by 40%, or even 45%.This cash could speed up your retirementHaving this tax relief credited into your pension account each year could really speed up your retirement savings. Let me explain how this could work.You pay: You’re a basic rate taxpayer and contribute £500 per month to your pension. Your contributions total £6,000 each year.Government pays: You’ll receive an extra £100 from the taxman for each month’s contribution. That’s an extra £1,200 each year.Total contributions: Your pension will get £7,200 each year, even though you’re only saving £6,000 yourself.This extra cash could have a big impact on your investment results.What I’d do in this situation is to open a SIPP (Self-Invested Personal Pension) and setup a monthly payment from my current account. I’d then invest the money in a stock market fund, or individual stocks and shares.In this example, I’ve assumed you’re paying in £500 per month and are investing the cash in a FTSE 100 tracker fund. The long-term average return from the UK stock market is about 8% each year. I’ve used this figure to calculate the future value of your pension fund and the benefit provided by pension tax relief: Benefit from pension tax relief Image source: Getty Images. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Roland Head | Monday, 27th January, 2020 With tax relief Simply click below to discover how you can take advantage of this. Without tax relieflast_img read more

VITL partners with Medicity to improve health care delivery in Vermont


first_imgVermont Information Technology Leaders, Inc. (VITL), operator of Vermont’s statewide health information exchange (HIE), announced today that it has selected Medicity’s suite of health information exchange solutions to improve the quality and cost-effectiveness of health care in Vermont.”Since VITL began operations as an independent non-profit organization in 2005, it has been working to improve the care that Vermonters receive by enabling electronic communication between health care providers,” said David Cochran, MD, VITL’s president and CEO. “The selection of Medicity as our HIE partner, with its industry-leading technologies and vast experience with statewide health information exchange – will allow us to accelerate connecting Vermont’s health care providers and provide additional support to Vermont’s nation-leading health care reform efforts.”VITL’s Vermont Health Information Exchange (VHIE) currently connects eight Vermont hospitals to 29 physician practices with 116 practitioners so that physicians can receive lab results and other clinical reports electronically. Several physician practices and hospitals also transmit data via VITL to the state’s Blueprint for Health registry, which physicians use to analyze care and identify opportunities for improvement. With Medicity, VITL will expand the services available to its existing VHIE customers, as well as connect the remaining Vermont hospitals and physician practices to the VHIE and the Blueprint for Health registry. VITL will also extend HIE access to other Vermont health care organizations, including nursing homes and mental health agencies.Initially, VITL will deploy the HIE to automate healthcare transactions such as lab and radiology orders and results, distribution of discharge summaries, and transfer of clinical summaries to the Blueprint for Health registry. Medicity’s HIE will provide seamless communications between the many different brands of EHRs and hospital systems used in Vermont. In the next phase, VITL will roll out HIE services for data aggregation, patient matching and record location to implement a statewide community health record.”As the pace of health care reform quickens in Vermont, and the Blueprint for Health initiative expands statewide, VITL has a very large task ahead of it to connect all the state’s health care providers,” said Cochran. “We selected Medicity to help us complete this task because it has demonstrated in other states that it has both the technology and skills necessary to rapidly and successfully deploy a full suite of health information exchange services on a statewide level.””The Vermont HIE has already made significant strides in offering services to improve the continuity and quality of care,” said Brent Dover, Medicity’s president. “We are excited to partner with VITL to augment the HIE and extend the collaboration infrastructure to every care provider.”About VITLVITL is a 501(c)(3) non-profit organization that assists Vermont health care providers with adopting and using health information technology to improve patient care. Because VITL’s stakeholders come from both the private and public sectors, in essence VITL operates as a public-private partnership. VITL is both the designated health information exchange for the state of Vermont and the federally-designated regional extension center for the state of Vermont. For more information, visit vitl.net or follow us ontwitter.com/vitlvt.About MedicityMedicity, the industry standard for health information exchange (HIE), is the leading innovator and largest provider of HIE technology – with more than 750 hospitals and 250,000 end users in its connected ecosystem. Medicity’s solutions empower hospitals, physicians and HIEs with secure access to and exchange of health information – improving the quality and efficiency of patient care locally, regionally and nationally. For more information, please visit www.medicity.com(link is external) or follow us on twitter.com/Medicity. MONTPELIER, Vt. – March 2, 2011-Vermont Information Technology Leaders, Inc. (VITL)last_img read more

Canada reports progress in avian flu battle


first_imgMay 13, 2004 (CIDRAP News) – Canadian authorities reported progress yesterday in their battle to stamp out avian influenza in British Columbia, while news services reported possible signs of a new strain of avian flu virus in the outbreak area.Canadian officials announced plans on Apr 5 to sacrifice about 19 million poultry in the Fraser River Valley near Vancouver to control an outbreak of highly pathogenic H7N3 avian flu. The disease has been detected in 40 commercial poultry farms and 10 backyard flocks.Yesterday the Canadian Food Inspection Agency (CFIA) said the campaign to destroy all poultry within 3 kilometers of infected farms was nearing completion. A total of 296 backyard flocks had been destroyed, the agency said.More than 500 sites have tested negative for avian flu, and no new infected farms have been found since Apr 29, the CFIA said. The agency said workers have begun cleaning and disinfecting 21 of the 40 infected farms.Also yesterday, British Columbia officials they had found what may be a new strain of avian flu on a duck and goose farm at Abbotsford, B.C., in the outbreak area, according to an Associated Press (AP) report.Dr. Perry Kendall, British Columbia medical health officer, said blood tests of geese and ducks revealed what looked like antibodies to an H5 avian flu virus, but the findings were not confirmed, according to the story. Confirmatory test results were expected tomorrow. The birds were not sick, the report said.The recent widespread avian flu outbreaks in East Asia, which led to 24 fatal human cases and the sacrifice of millions of birds, involved an H5N1 virus. But Kendall said the absence of illness in the Canadian birds suggests the strain involved is not the same as in the Asian outbreaks.The AP report said the finding of a possible new virus prompted officials to close a school across the road from the duck and goose farm. No children or staff members at the school had any signs of illness, said Sally Greenwood of the British Columbia Centre for Disease Control (BCCDC). She said the school would be closed until the end of the week and that plans called for destroying all the birds on the farm by then, according to the report.The report quoted Rick Thiessen, president of the British Columbia Chicken Growers Association, as saying that 75% of the poultry in the outbreak area had been destroyed.In other developments, a consortium of British Columbia medical agencies reported last week that they had sequenced the genome of the H7N3 virus involved in the outbreak.”The genome sequencing demonstrated that this is entirely a bird isolate, and contains no human influenza A genes at this time,” stated an announcement from the British Columbia Cancer Agency’s Genome Sciences Center, the BCCDC, and the Animal Health Center of the Ministry of Agriculture, Food and Fisheries.The project revealed a previously unknown mutation in the virus that could explain its increased virulence, the statement said.last_img read more

River Parrett Dredging Project Moves Ahead


first_imgImage source: SRASomerset Rivers Authority (SRA) yesterday announced the latest update from the River Parrett dredging scheme, saying that it’s been a good few days for dredging operations, with high water levels and strong tides. Crews have been working 12 hours a day on the water injection dredging vessel Borr.“They’ve done in a few days what used to take several weeks using ordinary methods – and done it for a fraction of the price,” said the Authority.Borr was visited yesterday by Somerset Rivers Authority Board members from South Somerset and Mendip District Councils and by the Chair of the SRA Joint Scrutiny Panel.This dredging is being done for SRA by Somerset Drainage Boards Consortium and contractors Van Oord.“Thanks to them for demonstrating how this dredging system moves silt and how it maintains the River Parrett’s capacity to carry more water, so local flood risks are reduced,” SRA concluded.last_img read more

MPs who have changed their mind on euthanasia


first_imgIn 2003, the Death with Dignity Bill would have legalised euthanasia by allowing people who are incurably and terminally ill to request and receive medical assistance to end their lives. The bill was defeated, fortunately.The MPs below were in the House and voted against the bill in 2003.Nothing has changed since then, except that palliative care and pain management has improved significantly as medical knowledge has increased.Why are these MPs now voting FOR David Seymour’s euthanasia bill (based on their 2nd Reading vote).They should vote NO.last_img read more