Gender pension gap

Gender pension gap

British women impacted at every stage of career The staggering impact of the gender pension gap has been revealed in research which shows that women have lower pension pot sizes in every age bracket, with the situation significantly deteriorating as they approach retirement[1]. Pension pot sizesThe highlights there is always a difference in pension pot sizes between genders[2], even at the start of men and women’s careers. This initial gap (17%) remains largely unchanged until …

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Intergenerational financial planning

Intergenerational financial planning

COVID-19 increases desire for sustainable investing for half of UK adults The coronavirus (COVID-19) pandemic has prompted a desire to move into ethical and sustainable investing for more than half (51%) of advised UK adults, according to a new report[1]. And while the trend is common across the generations, it’s Millennials who are leading the charge. The report found that 61% now care more about the environment and the planet than they did before the …

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Retirement plans being put in jeopardy

Retirement plans being put in jeopardy

Pandemic threatens pushing over 50s into pension poverty More than half (53%) of people in their 50s fear running out of money in retirement, as they have been the most likely to face job and income losses of any age group during the coronavirus (COVID-19) pandemic (23%), according to a new report[1]. Finances impactedThe number of those over 55 dipping into their pension early has increased this year, as some have struggled to pay for …

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What will happen to your pension when you die?

What will happen to your pension when you die?

Providing an income or nest egg for your loved ones to enjoy, long after you are gone The way that you decide to take your pension will affect what you can do with it when you pass away. While it’s not always easy to talk about, the way you eventually pass on your pension has the biggest impact on other people, so it will help talking to your spouse, children – or other people close to …

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What’s happening with inflation?

What’s happening with inflation?

Easing of lockdowns boosts consumer confidence and unleashes pent-up demand Understanding inflation is an important factor when it comes to your financial success. If you don’t factor inflation in when deciding where to put your money – whether that’s savings accounts or investing – you could find your wealth shrinks over the years. The current causes of higher inflation are largely COVID-related. The easing of lockdowns has boosted consumer confidence and unleashed pent-up demand. At …

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Planning for a better financial future

Planning for a better financial future

Have you made sure your plans are still on track? It’s been nearly two years since the first novel coronavirus (COVID-19) case was detected. The economic impact of the pandemic has not been equally distributed amongst all adults and where inequalities existed before the pandemic these may have been widened or closed. The pandemic has caused a drop in household income for around a third of all UK adults according to a Financial Conduct Authority …

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Retirement planning journey

Retirement planning journey

What you need to consider at every life stage When you’re starting out working in your 20s, you may not be thinking about retirement in 40 years. The same goes for your 30s, 40s and even 50s. There is always something on the horizon you could be saving for besides your retirement. No matter how old you are, it’s always a good time to review your pension savings and update your retirement plan. Understanding your …

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Protecting family wealth

Protecting family wealth

Start planning your legacy to mitigate or reduce Inheritance Tax If you’ve worked hard throughout your lifetime to grow your wealth, and hope it will help to safeguard the financial security of your loved ones after you’ve gone. But without careful planning in your lifetime, you could leave them with less than expected after the Inheritance Tax bill is paid. Proper planning can help you pass on as much as possible to the people you …

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Pension boost

Pension boost

Are you claiming all of the generous tax relief you’re entitled to? The unique combination of tax breaks and flexible access available to pensions make them a compelling choice when saving for retirement. One of the key benefits of saving into a pension rather than another type of savings or investment vehicle is the generous tax relief you’re entitled to receive. Making the most of pension saving involves maximising tax relief and allowances which could …

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Retirement Income

‘It’s not what you earn, it’s what you keep’

The potential impact to your expected retirement income over time When you’re planning your retirement income, there are multiple factors to consider: how much you can expect from the State Pension, the value of the pensions you have accumulated in your working life, your projected outgoings, and your potential later life expenses. One more factor not to overlook is how much of your retirement income could you lose in taxes. The amount you pay to …

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