Don’t be penalised by the tax system when you exercise your freedoms The ‘pension freedom’ reforms of 2015 were welcomed by consumers, as they vastly widened options available to most savers at retirement. Pension freedoms allow savers to have the flexibility on how and when to spend their money without being penalised by the tax system, but it is worrying that…

Signs you are not financially ready to retire Those potentially most exposed to a pension shortfall are not people just entering the workforce, most of whom presume they will work until their 70s and will receive limited support from the state. Those most at risk of enduring a more frugal older age are those currently in their 40s and 50s who…

Income gap between the wealthiest and poorest pensioners is growing The members of Britain’s baby boomer generation who are now entering retirement have been called ‘the richest generation in history’. But the income gap between the wealthiest and poorest pensioners is growing, with those in the top pension income band now having an average weekly income of almost £1,000. Government figures…

Last week Matthew was invited to help upcoming school leavers to come to grips with the potential pitfalls of going through job interviews! Hadleigh High School is the main state funded mixed senior school in the area (part of the South Suffolk Learning Trust) and so, as part of our commitment to supporting local initiatives, Matthew lent his time to help assess candidates…

Why longevity also brings with it some unique financial challenges Statistics clearly show that Britons are living longer. While a long life can be a good thing, longevity also brings with it some unique financial challenges. Our ageing population is drastically altering the economic landscape of the UK, the latest figures from the Office for National Statistics (ONS) have indicated. According…

Tangible benefits older workers bring to the workplace The days of an employee turning 65, getting a gold watch or carriage clock and being ushered into a new world of golf, retirement communities and early-bird specials are rapidly disappearing. People are living longer, and organisations are shifting their attitudes toward older workers as a result. Rising life expectancies and an ageing…

The early retirement dream lives on, but at what cost? Whether you choose or need early retirement, having a plan can give your money the best chance of lasting the distance. Whether lifestyle preferences or circumstances beyond your control are behind your decision to retire early, you’ll need to make a plan to help your retirement savings last, while still enjoying…

Critical gap in consumer awareness Drawdown allows most pension holders to withdraw a tax-free lump sum and reinvest the remainder as an income. But hundreds of thousands of DIY drawdown investors are unaware they can scale back or stop their withdrawals, putting them in danger of draining their retirement savings too rapidly, according to new research[1]. Half (52%) of all over-55s…

Make sure your pension savings don’t get left behind The employment landscape has evolved significantly over the last few decades, and changing jobs multiple times before retirement is now very much the norm. Even if you have not had that many jobs, you may still have a number of different pensions to keep track of. Nearly two thirds of UK savers…

Don’t lose your life savings or be persuaded to invest in high-risk schemes Don’t let scammers enjoy your hard-earned pension proceeds. Anyone can be the victim of a pension scam, no matter how savvy they think they are. It’s important that everyone can spot the warning signs. Latest figures show that nearly one in ten over-55s fear they have been targeted…