Mistakes to avoid when you’re aiming to build your pension pot. Many people are feeling the pressure on their finances at the moment due to the backdrop of rising inflation and the cost of living soaring. In these circumstances, it can be difficult to think about your long-term finances or even contemplate saving for the future. However, even in the current climate there are ways to maximise the value of any pension savings you do have. By sidestepping seven common

More over-65s are still working than six years ago. More people in the UK aged between 65 and 74 are still working compared to six years ago, new research shows[1]. The findings show there’s a marked increase in the number of people over 65 who remain in the workforce compared to 2016, and a fall in the number drawing their State Pension. At a time of rising cost of living pressures, the data shows fewer people across all age groups

Bonds can play a key part in building an investment portfolio. UK government bonds, also known as gilts, are debt securities issued by the UK government. They are used to finance the government’s borrowing requirements and are often seen as a safe haven asset by investors. Gilts are traded on the London Stock Exchange and the payments on gilts are fixed, meaning that they provide a predictable income stream for investors. Fixed income portfolio Investors who place large portions of

More over-50s returning to work amid cost-of-living crisis. Older workers have been leaving the jobs market in their droves over the past two years, partly due to many re-evaluating what they want from their lives and careers during the course of the COVID-19 pandemic, and also due to the devastating impact the pandemic had on the prospects for many older jobseekers, who felt they had no choice but to leave the workforce.  But the cost-of-living crisis is now affecting some

Women left with half the pension pot, no matter the job. We’ve all heard about the gender pay gap, but very few discuss the gender pensions gap, despite the fact so many women experience it. Women’s pensions at retirement are half the size of men’s, regardless of the sector they work in, new research has highlighted[1]. The gender pension gap is the percentage difference in income between men’s and women’s pensions and it begins at the very start of a

What kind of protection insurance do you need? There are various complex risks in life that we all face, such as serious illness, an accident or death. What would happen if something were to happen to you? Would your family be able to cope financially with the impact an unexpected event might have? These are not easy questions to ask but it is important to consider what would happen if an unexpected event or accident took place, and how you

What to consider if you have multiple pension pots. The employment landscape has evolved significantly over the last few decades and changing jobs multiple times before retirement is now very much the norm. But did you know, there is an estimated £9.7 billion of unclaimed UK defined contribution pension funds?[1]. Over time, it is easy to lose touch with pension savings providers as we change jobs, move home and the companies we have worked for change ownership or close down.

One in six over-55s have no pension savings yet. Despite the fact that the government has been trying to encourage people to save for their retirement through initiatives such as auto-enrolment, there are still too many Britons who have no pension savings at all. Research reveals that a fifth (20%) of people still have no pension savings at all, and people nearing retirement aren’t doing much better[1]. Even prior to the cost-of-living crisis there have been a number of reasons

Deciding whether to withdraw cash from your pension pot. Choosing what to do with your pension is a big decision. If you’ve been saving into a defined contribution pension (sometimes called ‘money purchase’) during your working life, from age 55 (age 57 in 2028) you need to decide what to do with the money you’ve saved towards your pension when you eventually decide to retire. However, making the wrong decision could cost you heavily in the form of an unwanted

Cost-of-living crisis delays homeownership, having children and retirement. Rising living costs have been so significant in recent months that most UK households will have noticed a squeeze on their monthly budgets. Not only does this have a direct impact on people’s lifestyles, even though they are making every effort to cut back, but it has a knock-on effect on their lifelong goals such as owning a home or retiring comfortably. Millions of people across the UK fear that the long-term

What if I could make my wealth more tax-efficient? We all want to leave a legacy and make sure the ones we care about most are well taken care of when we’re gone. That’s why making plans for Inheritance Tax is so important, to have confidence that your children, grandchildren and those you hold dearest will be taken care of long into the future. Inheritance Tax is a tax on the estate of someone who has passed away. The standard

81% aren’t seeking financial advice. Self-employed people are at risk of financial hardship if they don’t have sufficient provision in place. Without a regular income, it can be difficult to cover expenses and also save for the future. In many cases, the self-employed are unable to claim for many of the benefits that employees are entitled to, including statutory sick pay. Being self-employed also means you don’t have the luxury of having an employer to rely on for sickness cover