Latest news with #MPAA
Daily Mirror
7 days ago
- Business
- Daily Mirror
Millions of over-60s told 'withdraw cash and move it' amid cost of living crisis
Mistakes over-60s are making include not claiming DWP benefits they are entitled to - like Pension Credit or the state pension. Others include drawing from a private pension while still paying in A crucial alert has been issued for millions of UK households aged over-60. Those above 60 are being urged to "act now" to prevent missing out on vital funds as the Cost of Living crisis persists across the nation. Blunders that over-60s are committing include failing to claim Department for Work and Pensions (DWP) benefits they're eligible for, such as Pension Credit or the state pension - if aged over 66. Additional errors involve withdrawing from a private pension whilst continuing to contribute, which can activate the Money Purchase Annual Allowance (MPAA) and slash your tax-free pension contribution ceiling from £60,000 to merely £10,000 annually. Families are advised to steer clear of making flexible withdrawals (such as UFPLS or income drawdown) where possible, and urged to examine interest rates on their banking accounts, as many currently sit below one per cent interest. Households can extract cash and transfer funds to an easy access savings account, with some offering up to 4.98 per cent. As an alternative, over-60s can deposit their money into fixed-rate ISAs and bonds providing up to 4.58 per cent, reports Birmingham Live. Funderer's chief analyst commented: "Many over-60s are unknowingly leaving money on the table. These aren't complicated strategies - they're simple steps that can have a big impact on financial security in retirement. Acting now can make your money last longer and give you peace of mind." Mark Hicks, head of savings at Hargreaves Lansdown, has stated: "Given that markets now expect two or three more rate cuts for the remainder of the year, savings rates are likely to continue trending downwards in the months to come, and fixed rate deals above 4.5% may not be around for much longer. "For savers, this means keeping an eye on your savings rate, and being prepared to switch. You need to keep your emergency fund in easy-access savings, which are likely to drop. "However, some banks will be in more of a hurry to cut rates than others, so you could more than double the rate from a pedestrian high street giant by shopping around among online banks and savings platforms. "For money you don't need for longer, this is a decent opportunity to consider fixed rate savings. Fixed rate deals, which guarantee the rate for a specific period – from a couple of months to five years – will let you lock in a rate for the duration. "These have come down from the peak, but you can still make around 4.5%, and as easy access deals get less generous, these deals will look increasingly attractive. "It means anyone who has money they don't need for a fixed period of a few months or longer should consider tying it up for a better rate."
South Wales Argus
15-07-2025
- Business
- South Wales Argus
How to avoid pension mistakes that could cost you thousands
Five key errors are leaving pensioners out of pocket every year, including missing government top-ups, drawing pensions too early, and leaving savings in low-interest accounts. These are the most important mistakes - and a fix for each - to help your retirement income stretch further: 1. Missing out on Pension Credit More than 800,000 pensioner households in the UK are still not claiming Pension Credit, despite being eligible. That's an average of £3,900 per year going unclaimed — money that could boost income and unlock further benefits. The fix: If you're over State Pension age and your income is under £201 per week (single) or £307 (couple), use the Pension Credit calculator or contact Age UK to check eligibility. It could also entitle you to help with energy bills, NHS costs, and housing support. 2. Taking your State Pension too early Many people start claiming their State Pension at 66 (although this is rising), unaware they could receive significantly more by waiting. The fix: Experts at Funderer say: "Delaying your State Pension increases payments by 5.8% for every full year deferred. Based on the full new State Pension of £230.25 per week, that's a boost of around £700 a year for life after just a one-year delay. Deferral can be especially worthwhile if you're still working or have other income." 3. Triggering the MPAA without realising Drawing from a private pension while still paying in can trigger the Money Purchase Annual Allowance (MPAA) — cutting your tax-free pension contribution limit from £60,000 to just £10,000 per year. The fix: Avoid flexible withdrawals (like UFPLS or income drawdown) until you're sure you won't want to keep paying into your pension. Once triggered, the MPAA is permanent. Martin Lewis advises seeking guidance from Pension Wise or an adviser before accessing your pot. 4. Leaving money in poor savings accounts Many retirees keep cash in accounts earning under 1% interest, losing real value due to inflation. The fix: Move your money. As of July 2025, top easy-access savings accounts pay up to 4.98%, and fixed-rate ISAs and bonds offer up to 4.58%. Moving just £20,000 from a 1% to 4.5% account could earn an extra £700–£900 per year. Recommended reading: 5. Missing out on DWP and HMRC benefits Beyond pensions, many over-60s fail to claim additional benefits they're entitled to — from free NHS prescriptions to the winter fuel payment, council tax reductions, and more. The fix: Use trusted tools like EntitledTo or Age UK's benefits checker to find out what you could be claiming. In some cases, you may be missing out on hundreds of pounds annually in overlooked perks. 'Many over-60s are unknowingly leaving money on the table,' says Funderer's lead analyst. 'These aren't complicated strategies — they're simple steps that can have a big impact on financial security in retirement. Acting now can make your money last longer and give you peace of mind.'
South Wales Guardian
14-07-2025
- Business
- South Wales Guardian
How to avoid pension mistakes that could cost you thousands
Five key errors are leaving pensioners out of pocket every year, including missing government top-ups, drawing pensions too early, and leaving savings in low-interest accounts. These are the most important mistakes - and a fix for each - to help your retirement income stretch further: More than 800,000 pensioner households in the UK are still not claiming Pension Credit, despite being eligible. That's an average of £3,900 per year going unclaimed — money that could boost income and unlock further benefits. The fix: If you're over State Pension age and your income is under £201 per week (single) or £307 (couple), use the Pension Credit calculator or contact Age UK to check eligibility. It could also entitle you to help with energy bills, NHS costs, and housing support. Many people start claiming their State Pension at 66 (although this is rising), unaware they could receive significantly more by waiting. The fix: Experts at Funderer say: "Delaying your State Pension increases payments by 5.8% for every full year deferred. Based on the full new State Pension of £230.25 per week, that's a boost of around £700 a year for life after just a one-year delay. Deferral can be especially worthwhile if you're still working or have other income." Drawing from a private pension while still paying in can trigger the Money Purchase Annual Allowance (MPAA) — cutting your tax-free pension contribution limit from £60,000 to just £10,000 per year. The fix: Avoid flexible withdrawals (like UFPLS or income drawdown) until you're sure you won't want to keep paying into your pension. Once triggered, the MPAA is permanent. Martin Lewis advises seeking guidance from Pension Wise or an adviser before accessing your pot. Many retirees keep cash in accounts earning under 1% interest, losing real value due to inflation. The fix: Move your money. As of July 2025, top easy-access savings accounts pay up to 4.98%, and fixed-rate ISAs and bonds offer up to 4.58%. Moving just £20,000 from a 1% to 4.5% account could earn an extra £700–£900 per year. Recommended reading: HMRC issue urgent scam warning for Winter Fuel Payment texts The 'must-follow' summer advice from Martin Lewis Martin Lewis says 'don't pay to pay' on holiday Beyond pensions, many over-60s fail to claim additional benefits they're entitled to — from free NHS prescriptions to the winter fuel payment, council tax reductions, and more. The fix: Use trusted tools like EntitledTo or Age UK's benefits checker to find out what you could be claiming. In some cases, you may be missing out on hundreds of pounds annually in overlooked perks. 'Many over-60s are unknowingly leaving money on the table,' says Funderer's lead analyst. 'These aren't complicated strategies — they're simple steps that can have a big impact on financial security in retirement. Acting now can make your money last longer and give you peace of mind.'
Leader Live
14-07-2025
- Business
- Leader Live
How to avoid pension mistakes that could cost you thousands
Five key errors are leaving pensioners out of pocket every year, including missing government top-ups, drawing pensions too early, and leaving savings in low-interest accounts. These are the most important mistakes - and a fix for each - to help your retirement income stretch further: More than 800,000 pensioner households in the UK are still not claiming Pension Credit, despite being eligible. That's an average of £3,900 per year going unclaimed — money that could boost income and unlock further benefits. The fix: If you're over State Pension age and your income is under £201 per week (single) or £307 (couple), use the Pension Credit calculator or contact Age UK to check eligibility. It could also entitle you to help with energy bills, NHS costs, and housing support. Many people start claiming their State Pension at 66 (although this is rising), unaware they could receive significantly more by waiting. The fix: Experts at Funderer say: "Delaying your State Pension increases payments by 5.8% for every full year deferred. Based on the full new State Pension of £230.25 per week, that's a boost of around £700 a year for life after just a one-year delay. Deferral can be especially worthwhile if you're still working or have other income." Drawing from a private pension while still paying in can trigger the Money Purchase Annual Allowance (MPAA) — cutting your tax-free pension contribution limit from £60,000 to just £10,000 per year. The fix: Avoid flexible withdrawals (like UFPLS or income drawdown) until you're sure you won't want to keep paying into your pension. Once triggered, the MPAA is permanent. Martin Lewis advises seeking guidance from Pension Wise or an adviser before accessing your pot. Many retirees keep cash in accounts earning under 1% interest, losing real value due to inflation. The fix: Move your money. As of July 2025, top easy-access savings accounts pay up to 4.98%, and fixed-rate ISAs and bonds offer up to 4.58%. Moving just £20,000 from a 1% to 4.5% account could earn an extra £700–£900 per year. Recommended reading: HMRC issue urgent scam warning for Winter Fuel Payment texts The 'must-follow' summer advice from Martin Lewis Martin Lewis says 'don't pay to pay' on holiday Beyond pensions, many over-60s fail to claim additional benefits they're entitled to — from free NHS prescriptions to the winter fuel payment, council tax reductions, and more. The fix: Use trusted tools like EntitledTo or Age UK's benefits checker to find out what you could be claiming. In some cases, you may be missing out on hundreds of pounds annually in overlooked perks. 'Many over-60s are unknowingly leaving money on the table,' says Funderer's lead analyst. 'These aren't complicated strategies — they're simple steps that can have a big impact on financial security in retirement. Acting now can make your money last longer and give you peace of mind.'
Yahoo
10-06-2025
- Business
- Yahoo
Motorcar Parts of America Inc (MPAA) Q4 2025 Earnings Call Highlights: Record Sales and ...
Net Sales: Increased 5.5% to a record $757.4 million for fiscal 2025. Gross Profit: Increased 16.1% to a record $153.8 million for fiscal 2025. Cash from Operating Activities: Generated $45.5 million in fiscal 2025. Net Bank Debt: Reduced by $32.6 million to $81.4 million. Share Repurchase: Repurchased 542,134 shares for $4.8 million. Fourth Quarter Net Sales: Increased 1.9% to $193.1 million. Fourth Quarter Gross Profit: Increased 10.6% to $38.5 million. Fourth Quarter Gross Margin: 19.9%, up from 18.4% a year earlier. Operating Expenses: $22.2 million, compared to $22.6 million last year. Interest Expense: Decreased by $2.1 million to $12.5 million. Net Loss for Fourth Quarter: $722,000 or $0.04 per share. EBITDA for Fourth Quarter: $16.3 million, with adjustments leading to $24.6 million. Fiscal 2025 Net Loss: $19.5 million or $0.99 per share. Fiscal 2025 EBITDA: $50.3 million, adjusted to $92.8 million. Fiscal 2026 Outlook: Net sales expected between $780 million and $800 million; Operating income expected between $86 million and $91 million. Warning! GuruFocus has detected 8 Warning Signs with MPAA. Release Date: June 09, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Net sales increased by 5.5% to a record $757 million, demonstrating strong revenue growth. Gross profit rose by 16.1% to a record $154 million, indicating improved profitability. The company generated solid cash flow from operating activities amounting to $45.5 million. Net bank debt was reduced by $32.6 million, reflecting effective debt management. The company repurchased 542,134 shares, enhancing shareholder value through buybacks. The company faced a net loss of $722,000 for the fiscal fourth quarter, impacted by tariff costs. Non-cash expenses, including foreign exchange losses, negatively affected financial results. Tariffs continue to cause uncertainty, impacting cash flow and financial planning. Gross margin was impacted by non-cash expenses and one-time cash expenses related to tariffs. The effective tax rate was affected by the inability to recognize the benefit of losses in certain jurisdictions. Q: Selwyn, you mentioned tariffs increasing strategic competitive advantage. Can you expand on how tariffs might help with market share? A: Selwyn Joffe, CEO: We've adjusted our footprint to be less dependent on China, with less than 25% of our products imported from there. We ship directly from our factories, paying tariffs only when products are sold, which is cash neutral once price increases are in place. Competitors holding inventory in the U.S. will face greater cash alignment challenges. Q: How will customer pricing impact gross margin, especially with tariffs? A: David Lee, CFO: Tariffs might slightly negatively impact gross margin, but our initiatives to expand margins should offset this. Fiscal '25 adjusted gross margin was around 22.5%, and we aim to grow from that in fiscal '26. Q: Is the tariff impact seen this quarter a good representation of future expectations? A: Selwyn Joffe, CEO: The timing impact of tariffs is unpredictable, but we expect it to diminish soon as price increases take effect. Exact guidance on tariffs is uncertain at this time. Q: Have the price increases you mentioned already been enacted? A: Selwyn Joffe, CEO: Yes, almost 100% of our price increases have been accepted. Q: Can you elaborate on the catalysts behind expected margin expansion in the next fiscal year? A: David Lee, CFO: We're focused on lowering cost per unit and increasing sales per unit. Our momentum is strong, with natural overhead absorption and several operating initiatives driving efficiency. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
