What’s the right answer for you? The first increase in minimum automatic enrolment (AE) workplace pension contributions came into effect on 6 April[1]. According to research from Scottish Widows, however, one in five Britons (20%) – amounting to more than ten million people – say they’ll work until they’re physically unable to, while one in 20 (6%) – another three million…

New initiatives you need to know It’s important to consider the tax implications of making financial decisions. The 2018/19 tax year is now upon us, and a raft of new changes have come into force. The good news is that the overall tax burden is little changed for basic-rate taxpayers, but there are number of areas that have changed that should…

Deciding what to do with pension savings – even if you’re still working It might seem like a far off prospect but knowing how you can access your pension pot can help you understand how best to build for the future you want when you retire. On 6 April 2015, the Government introduced major changes to people’s defined contribution (DC) private…

Many individuals find the Inheritance Tax rules too complicated If you struggle to navigate the UK’s Inheritance Tax regime, you are not alone. Whether you are setting up your estate planning or sorting out the estate of a departed family member, the system can be hard to follow. Getting your planning wrong could also mean your family is faced with an…

Keeping your target retirement plans on track Most over-45s are not making plans to match their hopes for the future, according to research from Standard Life[1]. The vast majority (86%) of those aged 45 or over are already dreaming about escaping their working life for retirement, but only 8% of the same age group have recently checked the retirement date on…

Investing in a wide range of different tax-efficient investments From July 2014, Individual Savings Accounts (ISAs) can now be used to hold stocks and shares or cash, or any combination of these, up to the current annual limit. An ISA is a ‘wrapper’ that can be used to help save you tax. A Stocks & Shares ISA is a wrapper that…

Helping you save for a first home or for your retirement at the same time The start of the tax year on 6 April 2017 saw the launch of the Lifetime ISA (LISA), which was announced in the 2016 Budget. This new type of ISA is designed to help you save for a first home or for your retirement at the…

Life insurance policies where you invest a lump sum in a variety of available funds Investment bonds are life insurance policies where you invest a lump sum in a variety of available funds. Some investment bonds run for a fixed term, others have no set investment term. When you cash investment bonds in, how much you get back depends on how…

Public company aiming to make money by investing in other companies An investment trust is a public company that raises money by selling shares to investors, and then pools that money to buy and sell a wide range of shares and assets. Different investment trusts will have different aims and different mixes of investments. Investment trusts, unlike unit trusts, can borrow…

Stock market return linked but with fewer ups and downs than investing directly in shares If you save regularly or invest a lump sum using a life insurance policy, you might choose to invest in a with-profits fund. These aim to give you a return linked to the stock market but with fewer ups and downs than investing directly in shares….