FROM WHIPLASH – TO WILLS

WHIPLASH: An end to cash compensation for minor whiplash injuries to stamp out the scourge of fraudulent motor insurance claims.

The UK is the whiplash capital of Europe with 80 per cent of personal injury claims following a road accident involving whiplash – compared to just three per cent for France.

The Government will consult on the finer details in the New Year and expects changes will cut motor premiums by up to £50 a year.

STATE PENSION: Current pensioners will see a full basic state pension rise to £119.30 in April, up 3.5 per cent. The Government said the pension would continue to be protected by the ‘triple lock’ – meaning future rises will be the highest of average earnings, inflation or 2.5 per cent.

THE NEW FLAT RATE STATE PENSION: It will be set at £155.65 when introduced in April for new pensioners who have made the full 35 years of qualifying National Insurance Contributions. The pension will be less for those who contracted out of the Additional State Pension.

Jonathan Watts-Lay, of consultants Wealth At Work, says: ‘It is important that you check your state pension record and National Insurance Contribution history early. If you have any contribution gaps you may still be able to make up the difference.’

Request a state pension statement using a form called a BR19, which is available online or by calling the Government helpline on 0345 3000 168.

WILLS: Plans to remove the right to vary wills after death for fairness and tax efficiency – called deeds of variation – have been scrapped.

ISA: Rules will change next year to allow the tax advantages of Isas to remain during the administration of a person’s estate.

ANNUITIES: The Government is planning to make it easier for pensioners to sell annuities on the secondhand market.