Understanding pension uncertainties Survey highlights prevailing uncertainty among those on the cusp of retirement A recent study reveals that a considerable proportion of UK adults, including a significant number nearing retirement, find themselves in a quandary regarding their State Pension entitlements and the commencement of their payments[1]. The research underscores that 31% of Generation X individuals (ages 42-57) are in two minds about their retirement timing, in stark contrast to 19% of Baby [MORE]

Rising trend of unretirement 14% of those aged over 55 have found themselves re-entering the workforce In recent times, a significant portion of retirees, specifically 14% of those aged over 55, have found themselves re-entering the workforce, driven by the inadequacy of their pensions to meet rising living costs, according to new research[1]. This phenomenon, further compounded by an additional 4% contemplating a return to employment, highlights a growing trend among older generations [MORE]

Enhancing pension contributions for a brighter future New tax year, new you? Maximise your pension savings this new tax year As we embark on the new tax year, it presents an opportune moment to review your pension savings strategy, setting a solid foundation for future financial stability. Early attention to your private pension at the onset of the fiscal year is not just about cultivating beneficial saving habits; it’s also about ensuring you [MORE]

Changes to Individual Savings Accounts in 2024 Why savers and investors now have a more flexible approach Individual Savings Accounts (ISAs) offer a versatile and tax-efficient way to save for the future, whether for yourself, your children or grandchildren. Now that we have entered the new financial year, on 6 April 2024, significant changes to ISAs have been introduced. Since April 6, savers and investors have had a more flexible approach to using [MORE]

Costs of later-life care Establishing a thorough wealth strategy is key to ensuring financial readiness The financial implications of care in later life are often underestimated, leaving many unprepared for the substantial costs associated with care homes. Establishing a thorough wealth strategy is key to ensuring financial readiness for long-term care needs. In England, individuals with assets exceeding £23,250 are currently required to self-fund their care home expenses. However, a new government proposal [MORE]

Britons procrastinate on making a Will Research identifies that over half of adults do not have a Will Recent research has uncovered that a staggering 51% of adults in the UK have neither penned a Will nor are they in the process of doing so[1]. This statistic encompasses 13% of individuals affirmatively declaring no future plans to undertake this task. Alarmingly, a significant portion of the older demographic, with 30% of those aged [MORE]

Enhancing retirement through lump sum contributions Contributing additional amounts to your pension stands to benefit you significantly in the long term Recent research findings have brought to light a striking observation: fewer than 10% of adults in the UK contribute occasional lump sums to their pensions[1]. This statistic is particularly surprising given that such contributions could significantly amplify one’s retirement savings. Analysis reveals that even modest lump sum investments can significantly increase the [MORE]

Balancing profit and planet Striving to use impact to boost investment returns ESG (Environmental, Social, and Governance) investing, a socially responsible investing approach, seeks to harmonise financial returns with a company’s environmental impact, stakeholder relationships, and global footprint. Our planet faces numerous challenges, from climate change to a rapidly growing and ageing population. Understanding and incorporating ESG risks and opportunities into your investment strategy improves decision-making and enables you to seek more beneficial [MORE]

Time to SIPP into financial freedom? ‘I want to take charge of my retirement savings’ A Self-Invested Personal Pension (SIPP) is more than just a pension. It’s a gateway to financial freedom, offering you an unparalleled level of control. With a SIPP, you are at the helm of your investment decisions, determining how your money is invested and your pension pot grows. Whether you make regular contributions or occasional lump-sum deposits, even a modest [MORE]

A tax-efficient, flexible method for future planning Time is running out to use your 2023/24 ISA allowance Investing in an Individual Savings Account (ISA) is a tax-efficient, flexible method for future planning. One of the most attractive features of an ISA is its tax benefits – it’s immune to both Income Tax and Capital Gains Tax on any growth within the fund or on income you withdraw. This makes contributing to an ISA [MORE]