State Pension Rules
If you’re a man born after 6th April 1951 or a woman born after 6th April 1953 then you are, or will be, receiving the state pension under the rules introduced in April 2016. Admittedly the younger you are, the likelier it is that these rules could be changed before you reach pension age, but […]
Pension & Brexit
Much of the post-Brexit discussion has focused on what might be called “visible” topics, such as immigration. It is, however, also important to think about financial matters and to take whatever steps are necessary to mitigate any potential negative consequences. In this article, we’ll take a look at Brexit and what it means (or could […]
A Financially Rewarding Retirement
A financially-rewarding retirement is not the only contributor to a satisfying, healthy and enjoyable life, it’s still a pretty important one. For most, during working life, financial wellbeing will depend on whatever they do to earn money. However, as well as securing the living standards you want when you’re working, it’s also important to think […]
The Lifetime ISA
The Lifetime ISA will be available from April 2017 and will work on a top up basis, meaning that for every £4 saved, the government will add £1. At the same time the ISA allowance will be raised to £20,000. Anyone between the ages of 18 and 40 can open a Lifetime ISA, and any […]
Pension Scams – Don’t Get Caught Out
While the new pensions freedoms have been welcomed by many, some have raised concerns about the prospect of retirees being scammed out of their hard-earned pension pots. While this is a possibility, it’s worth remembering that the days of buying annuities had their own challenges, with people realistically looking at a seriously-impaired quality of life […]
Pension Changes – What Do You Need To Know?
Officially the UK now has pensions freedom. For some people however, this may equate to pensions confusion. Here is a quick and simple guide to the new pensions rules. Rule 1 – The state pension becomes the new state pension The talk about pensions freedoms relates to private, direct contributions pensions. The state pension operates […]
Are You Prepared For Auto-enrolment?
“We’re all in” and if we’re not we soon will be. If the auto-enrolment scheme (which has cross-party support) succeeds in its aims, this statement will only be a slight exaggeration. Saving for retirement has become a huge issue and a combination of measures, of which auto-enrolment is one, aims to encourage people to make […]
Is there a shock in store for your retirement?
According to the latest research under-40s could face a 148% rise in the cost of retirement living, over-45s also need to be prepared for financial shocks that could change their retirement plans. monthly retirement spending to rise from £1,183 to £2,930 by 2050 (For pensioners who do not rely on state pension) 42% of over-45s […]
Pension changes Should you top up?
The value of a state pension is set by the government. Currently it is based on the amount of National Insurance contributions retirees have paid during their working life. The value of a private pension pot depends on three basic factors. Firstly, how much money has been saved into it. Secondly, how long the money […]
