Over-50s retrain for later life retirement funding Nearly two thirds of over-50s workers would consider retraining so they could work longer in retirement, research from MetLife[1] shows. 63% of over-50s are looking at potentially lengthening their working lives, with 50% considering learning new skills to continue in full- or part-time employment, while 13% would look… Continue reading Changing work patterns
Category: Retirement
Accumulating wealth for your children or grandchildren
How to give them a financial head start in life as they grow up in the modern world Anyone with children knows there will be lots of demands on the household finances, but when it comes to long-term saving, perhaps for university or a first home, even a small sum can give your child a… Continue reading Accumulating wealth for your children or grandchildren
Passing on your pension savings
It’s never been more important to plan whom you’d like to inherit them Your pension is your life savings you’ve built up to give you the retirement you want. Since new pension rules came into effect from 6 April this year, pensions have become more flexible – including a cut in tax when a pension… Continue reading Passing on your pension savings
Compulsory financial advice
Two-thirds of people aged 55 and over believe financial advice should be compulsory at retirement Two-thirds (65%) of people aged 55 and over who are not yet retired believe that it should be compulsory to receive financial advice at retirement according to findings from Retirement Advantage. On-going advice More than one third (35%) of people… Continue reading Compulsory financial advice
Generation Y
More than one in ten would use parents’ pension on mortgage deposit More than one in ten (12%) 20-35 year olds are prepared to ask their parents to access pension savings to help pay for a mortgage deposit, research from Old Mutual Wealth[1] shows. But only half as many over 55s are willing to use… Continue reading Generation Y
Pension earmarking orders
Divorcees may need to take action to protect benefits following pension reforms An unintended consequence of the pension reforms is that any divorcee with a pension earmarking order may need to act fast to protect their benefits. Any earmarking order that provides the ex-spouse with a fixed percentage of the pension income in retirement should… Continue reading Pension earmarking orders
Ten tips to make the most of pension freedoms
Planning for retirement in the new pensions landscape The new pension savings market offers much more flexibility and choice post–6 April this year, which is a positive, but it can be overwhelming. For people planning for retirement in the new world of pension freedoms, there are both risks and opportunities – from passing on your… Continue reading Ten tips to make the most of pension freedoms
Personal pensions
Coming to terms with the realities of your later years f you’ve not thought about planning your retirement yet, don’t panic. We can discuss the different options available to you. This may include a personal pension, or a defined contribution pension. If appropriate, your provider invests the money you pay in and gives you an… Continue reading Personal pensions
History lesson
Inheritance Tax matters Inheritance Tax was introduced in the UK in 1796 and stemmed from the influence of the French Revolution. The concept of IHT was supposed to protect poorer members of society and interrupt the legacy of inherited wealth. When the tax was first introduced, it was known as ’legacy, estate and succession duties’ and was collected… Continue reading History lesson
Taking preventative action
Reducing your beneficiaries’ potential Inheritance Tax bill or mitigating it out altogether With careful planning and professional financial advice, it is possible to take preventative action to either reduce your beneficiaries’ potential Inheritance Tax bill or mitigate it out altogether. 1. Make a Will A vital element of effective estate planning is to make a… Continue reading Taking preventative action
