Figures show higher savings ratio The Office for National Statistics (ONS) has published figures that show households are saving the biggest proportion of their incomes for six years. The saving ratio, which measures how much Britons are putting aside from their earnings, rose to 5.6 per cent in the second quarter of the year which… Continue reading Britons saving more
Category: All News
Personal finance jargon
A guide to understanding some of the basic terms used A Day 6 April 2006 – the day that the pension simplification rules came into effect changing the way we can save for retirement. Annual allowance The maximum you may invest in your pension funds in a given tax year with tax relief. Annuity An… Continue reading Personal finance jargon
Pension rules post A-Day
How the landscape for retirement planning has changed The government introduced new pension rules, known as ‘pension simplification’, that became effective from 6 April 2006 (A-Day). This completely changed the pension landscape by creating a single universal regime that replaced the previous eight tax regimes. Savers in occupational and personal pension schemes and employers have… Continue reading Pension rules post A-Day
Achieving a wealthier retirement
Have you considered your options? Buying an annuity is typically a one-off purchase, so it’s essential to obtain professional advice to ensure that you can achieve a wealthier retirement. Your options at age 55 (50 until 2010) and 75 Tax-free cash At retirement you can normally take up to 25 per cent of your fund… Continue reading Achieving a wealthier retirement
Bespoke investment solutions
Selecting a broad spread of instruments There is a whole range of opportunities open to an investor wishing to generate extra income or build up a capital sum for the future. If appropriate to your particular requirements, one option to consider is collective investment schemes. In the UK there are three principal types of mainstream… Continue reading Bespoke investment solutions
Purchased Life Annuity
Securing an income for the rest of your lifetime If you are looking for a secure income that will not fall in value or eventually run out, an option to consider is a Purchased Life Annuity (PLA). A PLA pays you income in the same way as a pension annuity. However, it is bought using… Continue reading Purchased Life Annuity
Boosting your retirement income
Shopping around to get the best deal When you decide to take benefits from your pension savings, you are not obliged to purchase an annuity and take your retirement income from the company that you hold your pension fund with. An ‘open market option’ enables you to transfer your accumulated pension fund to another insurance company, which allows you to shop… Continue reading Boosting your retirement income
ISA returns of the year for the over-50s
Have you taken advantage of topping up your tax-free savings? If you are aged 50 or over, from 6 October your Individual Savings Account (ISA) allowance increased by a further £3,000 to £10,200; £1,500 of this increase can be saved in a cash ISA. Everyone else will be entitled to this higher contribution allowance from… Continue reading ISA returns of the year for the over-50s
Savings survey
Facing up to the reality of not having saved enough Around 55* per cent of people said they were either currently not saving enough or they had to face up to the reality of not having saved enough into a pension in the past, according to insurer Friends Provident. A further 15* per cent of… Continue reading Savings survey
Protecting key personnel
Managing the risk that could ultimately threaten your company’ sprofits A vital part of any business is the people who work there. But what if something happened to one of the key personnel in your business, for example, if an important member of staff died unexpectedly or became unable to work due to a serious… Continue reading Protecting key personnel
