Breach may impact on more than a million workers.
An estimated 1.25 million people are set to breach the current Lifetime Allowance (LTA) £1.03m lifetime limit for pension tax relief over the course of their working life, according to new research published[1].
Over one million UK savers embrace relaxation of rules.
The Government’s announcement on the relaxation of pension rules changed the investment landscape and pension freedoms show no sign of losing their popularity.
Getting your date right will help your plans stay on target.
Some people will have set their retirement date when they were in their 20s or 30s and a great deal will have changed since then, including their state pension age and perhaps their career plans.
Tailored to match your particular needs and aspirations.
One of the most important stages in life which everybody has to save for is retirement. We work hard to enjoy our current lifestyle but are we doing enough to ensure that we can continue to enjoy it in our retirement? Many of us live for today, but saving into a private pension plan can help us retire sooner rather than later.
Don’t ignore the corrosive impact rising prices can have on your investments.
Inflation is an economy-wide sustained trend of increasing prices from one year to the next. The rate of inflation is important as it represents the rate at which the real value of savings and an investment is eroded and the loss in spending power over time. Inflation also tells investors exactly how much of a return their investments need to make for them to maintain their standard of living.
Considering the practicalities of fulfilling your desired lifestyle.
If you are aiming to retire within the next five years, its time to get into the mindset of considering the practicalities of fulfilling your desired lifestyle and making plans.
Product choice broadened in the later life lending sector.
In an effort to broaden product choice in the later life lending sector, the Financial Conduct Authority now treats Retirement Interest Only (RIO) mortgages as standard mortgages, instead of being regulated under Equity Release rules. This factor, among others, has resulted in several lenders adding RIO mortgages to their offering.
Tax-efficient ways to fund the next generation.
It’s natural we may want to give younger members of our family a financial start in life. Especially when we hear about some students graduating with eye-watering levels of debt. If you are able to help your children or grandchildren without risking running out of money yourself, it’s important that you do so effectively.
Reaching specific life goals requires planning.
If you don’t know where you want to go, you’ll find it tricky getting there! Investment goals cover everything from the old adage of saving for a rainy day to planning for a comfortable retirement.
Innovative products to be created for would-be home owners.
The Building Societies Association (BSA) have recently published a raft of recommendations as to how the mortgage industry can support the Bank of Mum and Dad in their endeavours to help first-time buyers onto the property ladder.
Spreading risk by accessing different types of assets.
Investing for the long-term means persisting through market swings. History shows that when people invest and stay invested, they’re more likely to earn positive returns in the long run. When markets start to fluctuate, it may be tempting to make financial decisions in reaction to changes to your portfolio.
Over six million adults refuse to discuss their will with loved ones.
Making a will is very important if you care what happens to your money and your belongings after you die, and most of us do. But have you tried to talk with your parents about their will? If that conversation isn’t happening, you’re not alone.
Pension freedoms usher in a new generation.
The introduction of pension freedoms has been a huge enabler for over 55s, allowing millions to draw income from their pensions flexibly. Pension freedoms offer the opportunity to transition into retirement by continuing to work with reduced hours beyond traditional retirement age.
Nearly £20 billion unclaimed money and growing.
The scale of the UK’s lost pensions mountain has been exposed by the largest study yet on the subject[1]. The Pensions Policy Institute surveyed firms representing about 50% of the private defined contribution pensions market[2].
