Pensions shake-up Getting away from the stresses of everyday life For many, the idea of retirement means getting away from the stresses of everyday life. But with living costs rising and interest rates low, people need to think about how to generate extra income from their savings in retirement. Pensions offer a number of important advantages that will make your savings grow more rapidly than might otherwise be the case. However, changes announced in April 2015 have lead to a

Eyes wide shut Do you know the value of your pension savings? With people living longer than ever before, we all need to save more. But because there’s always something more urgent to pay or save for, it’s something that many of us rarely think about. Almost three quarters (73%) of people aged 45 or over are longing for the day when their life is no longer confined by their working routine, according to new research[1]. Yet despite an eagerness

Back to the future Visualising what really matters to you is the key to the planning process Have you ever thought about writing a letter to yourself to describe your ideal future life, long-term life goals and the process of how to plan for them? Imagining what you want your life to be like in the long term when you retire can help you think much further ahead than you might ever have done before. Research conducted for a new

Seeking a higher retirement income Retirement needn’t be an all-or-nothing decision The onwards march of ‘pretirement’ – where people scale back on work or slow their retirement plans down rather than giving up entirely – is continuing, with half (50%) of those retiring this year considering working past State Pension age. This is the sixth consecutive year[1] in which half of people retiring would be happy to keep working if it meant guaranteeing a higher retirement income. More than a

ISA rules and Inheritance Tax Families set to pay millions in unnecessary tax There’s a fundamental lack of awareness and understanding around Inheritance Tax, especially when it comes to how Individual Savings Accounts (ISAs) are treated after death. Given that some people have been able to amass over a million pounds in their ISAs, it’s an area where lack of knowledge could prove costly. Over half (51%) of over-45s do not know that ISAs are liable for Inheritance Tax, leaving

Investment choices Which is the right approach for you? The world of investing can seem daunting. Whatever stage of life you’re at, we’ll guide you through the appropriate investment opportunities available to you. Every investor needs to ask themselves the same basic questions before getting started. You’ll need to know what your goals are, how long you expect to invest, how much money you are able to invest and how comfortable you are taking risks. You’ll invest differently for a

To transfer, or not to transfer? More than 100,000 people transferred out of Defined Benefit (DB) pensions in 2017/18[1]. A DB pension scheme is one where the amount you’re paid is based on how many years you’ve worked for your employer and the salary you’ve earned. The figures show that a large number of people are still transferring out of traditional salary-related pensions, but whether this is a good idea or not depends crucially on your individual circumstances. For many

Positive outcomes Impact investing without sacrificing returns or profits For those looking to make the world a better place, but not wanting to sacrifice returns or profits, impact investing aims to support a positive social or environmental impact as well as looking to achieve compelling financial returns at the heart of sustainable investing. The term ‘impact investing’ was first coined in 2007, although the practice developed over years beforehand. It seeks to generate both social change and a return on

Cash stash Study exposes a whole host of financial secrets It’s bad news for romantics, according to the latest annual research[1] into the retirement aspirations and financial planning of UK couples aged 40 and over. This identifies that nearly one in three couples (31%) have secret savings or investments that they have deliberately started without telling their partner or spouse. And it’s not just a few pounds, as 7% admit to hiding savings of over £50,000. Individuals who have not

SIPP into your future Extra flexibility over your pension savings in retirement It’s never too early – or too late – to start saving for your future. With retirement planning, it is important to take into account the fact we’re all living longer. Couple that with the fact that the cost of living continues to rise, and the value of the State Pension continues to dwindle – this provides a very strong case for starting to save early for your

Cash may not be king Pension savers risk a significant tax bill For most people over the age of 55, it is now possible to cash in or unlock all of your pension. How you take these benefits will depend on the type of scheme you have and how you want to take benefits. But concerns have been raised that some savers may risk running out of cash if they siphon too much out of their pension pots. There are

Protecting yourself from scams Fraudsters are using sophisticated ways to part savers from their money Pension and investment scams are on the increase in the UK. Everyday fraudsters are using sophisticated ways to part savers from their money, and the Internet and advances in digital communications mean these kinds of scams are getting more common and harder to identify. A lifetime’s savings can be lost in moments. Nearly one in ten over-55s fear they have been targeted by suspected scammers