Articles and News

14Oct

One in three of us plan to use the markets in retirement

One in three of us plan to use the markets in retirement
New research from MGM Advantage, the retirement income specialist, suggests that UK adults are planning to use equity investments to help them outstrip inflation and manage the rising cost of living. Over half (53%) of UK adults rate the rising cost of living as their number one fear for retirement, and almost a third (32%) of pre-retirees surveyed, say they would retain some exposure to stocks and shares to offset the negative effects of inflation on their retirement income.

Posted in Investments, Retirement Planning

03Oct

Is Auto-Enrolment leading us towards a better financial future?

Is Auto-Enrolment leading us towards a better financial future?
Half of UK employees on lower incomes and half of those aged 30-49 are now saving adequately for retirement, according to the latest Scottish Widows Workplace Pensions Report, showing the impact of automatic enrolment on the groups that need it most. As the legislation approaches its second anniversary, the annual report from Scottish Widows finds that the number of people on incomes of between £10,000 and £30,000 who are saving adequately for retirement has risen steadily from 34% in 2012 when auto-enrolment was introduced to 50% in 2014.

Posted in Retirement Planning, Financial Planning for individuals/families

05Oct

Important pension notice: 55% ‘death tax’ abolished

Important pension notice: 55% ‘death tax’ abolished

Ahead of the major pension changes already announced for April 2015, the Chancellor, George Osborne, this week announced another shift in pension policy that could have a big impact on many savers and their financial planning requirements.

Speaking at the Conservative Party’s Annual Conference, Mr Osborne announced the abolition of a so-called ‘death tax’, which can see any pension remaining on death taxed at a rate of 55%, before it is passed on to a beneficiary. The change, as with the other changes to pensions already announced, will be introduced from April next year.

Posted in Retirement Planning

03Oct

Families with dependent children lack financial protection

Families with dependent children lack financial protection
Only a quarter (24%) of adults in the UK with children under 16 have any form of financial protection, a significant drop from 31% in 2013, according to the latest research from the Scottish Widows Protection Report. With over half (54%) of this group admitting that their savings would last just a couple of months if they were unable to work, a significant protection gap exists for families in the UK.

Posted in Protection