The Downside of Downsizing
The decision to sell up and move to a smaller property could come as a result of children flying the nest, the need to free up cash, or both. Whatever the reason, there are costs to downsizing that are important to know about before you make the move. The ‘hidden’ fees Research from online estate […]
Saving for retirement: as easy as 1, 2, 3
Much is made of the tax benefits of saving into a pension scheme but there are other benefits to consider. As many corporate pension schemes and even government pension schemes become unsustainable, the onus to create a comfortable retirement is increasingly on the individual. But, if we are honest with ourselves, by the time many […]
Pension Death Benefits
With the introduction of pension freedoms in 2015, we now have a range of options when deciding how to fund our retirement. But few of us stop to consider what might happen on our death: retirement itself seems far enough away! Under the previous regulations, only one dependant of the pension plan holder could inherit […]
Automatic enrolment and you
Auto-enrolment is a Government initiative where all workers will be automatically enrolled into a workplace pension. New figures show that by 2020 over 10 million people are expected to be newly saving or saving more as a result of automatic enrolment. This means that an additional £17 billion a year is projected to be saved […]
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 […]
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 […]
