Preparing for the arrival of your first baby First-time UK parents spend more than £492 million[1] each year preparing for the arrival of their first baby, according to research from Aviva. This equates to £1,619 per family and shows a 17% increase to the £1,389 total in March 2012[1]. Essential purchases The new study of 2,000… Continue reading First-time parents
Category: News
Spending on luxuries in retirement
The reality of living on a pension is taking new retirees by surprise The reality of living on a pension is taking new retirees by surprise, with many under-budgeting their first five years of retirement and overspending by an average of £6,500, according to LV=. This is leading to a surge in older retirees taking… Continue reading Spending on luxuries in retirement
Working past the default retirement age
Adapting to changes in working patterns More than half of over-55s currently in the workforce are happy to work past the default retirement age of 65, according to new research from MetLife[1]. Its nationwide study found 54% of those aged 55 or over who are currently in jobs want to keep working when they get to 65. However, one in… Continue reading Working past the default retirement age
New tax year, new ISA allowance
A tax-efficient way to help you minimise the tax you pay No one knew back in 1999 how popular Individual Savings Accounts (ISAs) would become but with £443 billion[1] now held in ISAs, they’ve established themselves as a core option for saving and investing in a tax-efficient way to help minimise the tax you pay… Continue reading New tax year, new ISA allowance
Unhappy headlines for savers
Higher returns generally come with higher risk It seems incredible that the Bank of England base rate has stood at 0.5% since March 2009. It’s made unhappy headlines for savers looking to generate income over the previous five years. The reality is that the potential for higher returns generally comes with higher risk. All investments… Continue reading Unhappy headlines for savers
Measuring our appetite for risk
More than twice as many men choose the highest possible risk option to boost their savings compared to women Findings recently published in the Zurich Wealth Risk Report show that more than twice as many men choose the highest possible risk option to boost their savings compared to women (13% vs 6%)[1]. The study, tracking… Continue reading Measuring our appetite for risk
Boosting retirement savings
Are investors failing to think long-term about their futures? Boosting retirement saving is the key goal for investors in 2014, yet despite this long-term objective, almost three fifths (61%) of those surveyed say they are looking for satisfactory investment returns within just five years, with just 5% taking a longer-term view of ten years or… Continue reading Boosting retirement savings
Lifetime Allowance
Limiting the amount of tax relief you’re allowed You can save as much as you like into a pension, but there is a limit on the amount of tax relief you’re allowed. The Lifetime Allowance for pensions is currently £1.25m (2014/15). In essence, the Lifetime Allowance is intended to cap the level of tax-advantaged pension funds that… Continue reading Lifetime Allowance
Locating a lost or forgotten pension
The best chance of being reunited with a lost scheme People change jobs and employers change their names, but, more importantly, we all forget things from time to time. With that in mind, it is easy to lose track of pensions that you have paid into over the years. If you do not actively look… Continue reading Locating a lost or forgotten pension
Greater choice for retirees
Proposals to fundamentally redesign the UK private pensions system undamental plans proposed to redesign the UK defined contribution pension system (as opposed to workplace final salary schemes) were announced as part of the Budget 2014 speech. This is the most far-reaching reform to the taxation of pensions since the regime was introduced in 1921, introducing… Continue reading Greater choice for retirees
