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. Continue reading “Bank of Mum and Dad”
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. Continue reading “Wealth creation”
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. Continue reading “Why silence isn’t necessarily bliss”
Breach may impact on more than a million workers
An estimated 1.25 million people are set to breach the current lifetime allowance (LTA) £1.055 million lifetime limit for pension tax relief over the course of their working life, according to new research published[1]. Continue reading “Lifetime allowance”
Half a million workers past pension age could be paying unnecessary tax
A significant number of people working past the State Pension age could be paying unnecessary tax on their State Pension, according to new research[1]. This is because they failed to take up the option of deferring their State Pension until they stopped work. As a result, their entire State Pension is being taxed, in some cases at 40%. Continue reading “State Pension”
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]. Continue reading “Tracing a lost pension”
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. Continue reading “Freetirees”
No longer something that only affects the very wealthy
Inheritance Tax is no longer something that only affects the very wealthy, but the good news is that there are ways to limit the amount of Inheritance Tax your family may potentially face. Continue reading “Inheritance Tax”
Employees contribute higher pension payments
On 6 April 2019, the minimum level of auto-enrolment contributions increased to 8% of earnings, made up of 3% from employers and 5% from employees. According to data from the Pensions Regulator, auto-enrolment has brought a total of 9,937,000 people into the scheme to date, and involved 1,400,918 employers. Continue reading “Workplace pension savings”
Time, patience and making informed decisions
Making sense of today’s market headwinds and building a diverse portfolio should be key priorities for all investors. Whether you have a lump sum to invest or want to invest regularly each month, it’s important to know your money is working hard for you. Continue reading “Building a diverse portfolio”