Taking a lump sum from your state pension. If you defer taking your state pension, you can earn either extra state pension or a taxable lump sum. To get a lump sum, you have to put off taking state pension for at least 12 consecutive months (this option will disappear after April 2016).aking a lump sum from your workplace pension. Lump sums from workplace pensions are tax-free. The maximum you can take is 25% of your potâs value, at age 55 (but this can be earlier if youâre suffering from ill health).
Oil price falls below $50 as U.S. supplies hit record. Crude oil prices dipped below $50 for the first time since December as a global glut persists despite production cuts by oil-exporting nations. Domestic commercial crude supplies have risen nine straight weeks.
However now that the United States has increased oil production, low oil prices can hurt U.S. oil companies and affect domestic oil industry workers. Conversely, high oil prices add to the costs of doing business. And these costs are area also ultimately passed on to customers and businesses.n this article, we will look at how oil prices impact the U.S. economy. A Reversal of Fortune. In the 1990s and early 2000s, the United States was struggling under declining domestic oil production and the resulting need to import more oil.