Year: 2021

Pandemic triggers shift to saving

Pandemic triggers shift to saving

Savings / 7 December 2021

People thinking more about their spending and financial priorities The coronavirus (COVID-19) pandemic has lead to more people re-thinking how they spend and manage their money, with more than half (51%) now prioritising saving for an unexpected event or loss of income, research published suggests[1]. A third (32%) are setting aside money. This reflects Bank of England[2] estimates that more than £200 billion of savings have been built up during lockdown, but only 10% of …

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Change to the state pension triple lock

Change to the state pension triple lock

Pensions / 7 December 2021

Pensioners ‘deeply disappointed’, particularly women and self-employed The earnings benchmark of the State Pension triple lock will be temporarily set aside for next year. The Department for Work and Pensions (DWP) confirmed on 7 September that the State Pension triple lock rule will not be applied for the 2022/23 financial year over concerns of the potential costs involved. It comes after the Office for Budget Responsibility (OBR) said in July that pensioners could see their …

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How can I protect my money from inflation?

How can I protect my money from inflation?

Inflation / 7 December 2021

Five questions to ask before inflation really takes off ‘How can I protect my money from inflation?’ is a question that many people may be asking themselves right now. In the current economic climate, rising inflation is becoming a concern for people with savings and investments. The effect means you’re potentially earning less money due to your hard-earned cash becoming worth less as time goes by. The negative impact of inflation upon the real value …

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UK pensioners underpaid

UK pensioners underpaid

Pensions / 7 December 2021

More than £1 billion in State Pensions impacted due to ‘repeated human errors’ The Department for Work and Pensions (DWP) underpaid 134,000 pensioners in State Pension to the tune of £1 billion, according to the National Audit Office (NAO)[1]. Complex State Pension rules, outdated and unautomated IT systems, and a high degree of manual review and understanding required by case workers led to the errors uncovered by the investigation. State Pension claimsThe NAO said some …

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Festive gifts that teach children the value of money

Festive gifts that teach children the value of money

Investments / 7 December 2021

Why parents should look to Christmas investment gifts instead of toys With the festive season approaching, have you thought about gifting your children or grandchildren something different this year? Giving them a good start in life by making investments into their future can make all the difference in today’s more complex world. Lifetime gifting is not only a good way to set up children for adulthood but is also a way of mitigating any Inheritance …

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Pensions and retirement still remain a taboo

Pensions and retirement still remain a taboo

Pensions / 7 December 2021

When it comes to marriage and money, it’s good to talk Millions of married couples have no idea about their spouse’s pensions and retirement plans, according to new research[1]. More than three-quarters (78%) of non-retired married[2] people do not know what their spouse’s pensions are worth. Nearly half (47%) of non-retired married people have not spoken to their spouse about their retirement plans and 85% of non-retired married people are not aware of the tax-efficiencies …

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The power of a plan

The power of a plan

Financial Planning / 7 December 2021

How to create a personal financial plan in 8 steps When thinking about your future financial wellbeing, it can be helpful to consider a plan. It is a good idea to have a clear sense of what you want from life and use this as a guide for making important decisions. Acomprehensive financial plan helps you achieve your goals by analysing your current situation, planning for the future and providing continuous monitoring of progress towards …

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Planning for early retirement

Planning for early retirement

Retirement / 7 December 2021

What are the financial consequences to stopping work in your 50s? Early retirement may be the ultimate dream for some, but the coronavirus (COVID-19) pandemic made it the only option for many. Figures from the Office for National Statistics show that over-50s had the highest redundancy rate between December 2020 and February 2021[1]. Retiring early can give you that change of lifestyle you’ve been craving, open doors to new experiences and potentially improve your health. …

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Generation vexed

Generation vexed

Retirement / 7 December 2021

A third of Gen Xers not confident they can fund their retirement With 57% of Gen Xers wanting to save more for retirement but struggling to do so, a quarter (25%) plan to work part-time past the State Pension Age (SPA) to plug an expected income shortfall in retirement, while 17% plan to work full-time. However, they have serious concerns about whether they will be able to continue working later in life.  The findings, which …

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Investing with impact

Investing with impact

Investments / 7 December 2021

How ESG creates long-term value It’s no secret that the growth of Environmental, Social and Governance (ESG) investments in recent years has been fundamental. This has largely been fuelled by the climate emergency, leading to growing scrutiny of company practices with some governments mandating a change in companies’ and individuals’ behaviour. The idea behind ESG investing is that corporations which respect these three pillars in their business practices will achieve long-term value creation. From tackling …

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