Category: Pensions
Tean’s Client Success Story Published in Financial Times Adviser
Our Chartered and Independent Financial Adviser, Tean Hatt was interviewed by the Financial Times Adviser’s senior reporter Alina Khan earlier this month about a recent client case that has highlighted a wider issue for older women and the state pension. The resulting story was front page news in this national newspaper aimed at the financial services industry. This news outlet is renowned for its focus on financial advice and engaging thought leadership pieces that profoundly impact both advisers and clients across the UK.
Enhancing Pension Contributions For A Brighter Future
Contributing additional amounts to your pension stands to benefit you significantly in the long term. We explore in our blog different ways you can enhance your pension savings for a brighter future.
New Pension Tax Framework
The implications of these changes will largely depend on individual circumstances, such as the aggregate value of one's pension savings, any prior withdrawals from pension schemes and existing lifetime allowance protections.
ISAs: End of Tax Year Reminder
This time of year presents an opportune moment to examine both your personal and business finances to ensure they are structured to optimise your tax efficiency. Despite the ongoing freeze on many tax rates and thresholds, numerous strategies remain for organising your financial matters tax-efficiently. We've outlined some of the key areas in which you are able to make the most of tax-saving measures before the deadline arrives:
Spring budget 2024
Jeremy Hunt delivered his fourth statement as Chancellor of the Exchequer with a Budget focused on long-term growth and improving domestic prospects. The biggest issues that he looked at addressing included productivity, taxation and domestic market support.
Are you aware of the changes to the State Pension?
The State Pension is set to increase commencing on 6 April 2024 due to a mechanism known as the ‘Triple Lock’. Chancellor Jeremy Hunt has announced an increase of 8.5%, which pensioners will welcome.
Normal Minimum Pension Age Update – what you need to know
A significant change is on the horizon that may affect when you can access your pension money. We’ll guide you through this change and its potential implications, so you can confidently prepare for retirement.
Taking a personalised approach
No matter what stage of life you’re in, it’s never too early or late to start planning for your retirement. By taking a personalised approach, you can develop a retirement plan that will work for you throughout your life.
Spring budget 2023
The Spring Budget 2023 was delivered by Chancellor of the Exchequer, Jeremy Hunt, on March 15. Among key changes announced were those made to pensions, aimed at making it easier for individuals to save for their retirement and encouraging retirees to return to work.
Retirement planning for every life stage.
No matter what stage of life you’re in, it’s never too early or late to start planning for your retirement. By taking a personalised approach, you can develop a retirement plan that will work for you throughout your life.
Don’t ‘Sleepwalk’ Into Retirement
As we enter our later years, it's more important than ever to have a solid retirement plan in place. Unfortunately, for many of us, that simply isn't the case. According to recent figures, one in six people over the age of 55 in the UK have no pension savings whatsoever[1].
Guide to Maximising Pension Savings
Many people are feeling the pressure on their finances at the moment due to the backdrop of rising inflation and the cost-of-living soaring. In these circumstances, it can be difficult to think about your long-term finances or even contemplate saving for the future. Even in the current climate there are ways to maximise the value of any pension savings you do have.
Getting Set for Retirement
Welcome to our Guide to Getting Set for Retirement. As you approach the last five years before your retirement, there will be a lot of things to consider. You’ll need to think about your finances, your health, your housing situation and your plans for the future to live comfortably in retirement. In recent years, the changes to pensions legislation have created greater freedom and choice over how pension assets can be used. However, with freedom and choice comes complexity.
Getting ready to retire?
Have you ever wondered what you need to consider as you approach retirement? Whatever your concept of what is a good pension pot, one certainty is that relying on the State Pension alone will not give you a good enough pension to live on comfortably through your retirement.
How Much Do I Need To Save To Retire?
The question, ‘Have I saved enough to retire?’ is a dicult one. It requires a lot of information about you, your family, your income needs in retirement, and an understanding of the various financial vehicles available for saving and investing before it can be answered definitively.
Change to The State Pension Triple Lock
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.
Time for pensions to contribute towards building a better world
As we have been witnessing in recent years and months, climate changes are occurring in every region and globally. A new landmark report from the United Nations on the state of climate science has highlighted modern society’s continued dependence on fossil fuels, which is warming the world at a pace that is unprecedented in the past 2,000 years...
How to Trace Multiple Old Pension Pots
Changed job? Moved house? It’s not always easy to keep track of a pension, especially if you’ve been in more than one scheme or have changed employers throughout your career. Over time, pension schemes close, merge or become renamed. So even if you remember the name of your scheme, it could now be called something else.
The Retirement Clinic
If you are approaching retirement age, it’s important to know your pension is going to finance your plans. Pension legislation is extremely complex and it’s not realistic to expect everyone to understand it completely. But, since we all hope to retire one day, it is important to get to grips with some of the basics.
Live The Life You Want
The current life expectancy in the United Kingdom[1] in 2017 to 2019 was 79.4 years for males and 83.1 years for females, while you can access your pension savings from the age of 55, and the State Pension age is currently 66.