Monthly Archives: October 2014

Workplace challenges for older workers

Posted on October 31, 2014 by - News, Retirement

One in three could not carry out current jobs past their traditional retirement age

Employers estimate up to a third of their staff would struggle to continue in their current jobs past traditional retirement ages, research for MetLife Employee Benefits[1] shows. Its nationwide study found HR directors believe that, on average, 31% of their current workforce would not be able to perform their jobs adequately once they reach normal retirement ages, even though 54% of them expect an increase in the proportion of older staff. (more…)

Offsetting the negative effects of inflation

Posted on October 31, 2014 by - Investment, News

Why more people are retaining exposure to stocks and shares

New research[1] suggests that UK adults are planning to use equity investments to help them outstrip inflation and manage the rising cost of living. Over half (53%) of UK adults rate the rising cost of living as their number one fear for retirement, and almost a third (32%) of pre-retirees[2] say they would retain some exposure to stocks and shares to offset the negative effects of inflation on their retirement income. (more…)

Saving for a rainy day

Posted on October 31, 2014 by - News, Retirement, Wealth Creation

Fewer people are putting money away despite improvements to the economy

T he gap between the fortunes of savers and non-savers continues to widen, and research supports these findings[1]. ‘Habitual savers’ continue to put away more for a rainy day, but the total number of people saving has fallen, and, despite improvements to the economy, one in five people in the UK have no savings at all. (more…)

Retiring in good health

Posted on October 31, 2014 by - News, Retirement

How new pension fund rules could increase life expectancy

With the news that the tax charge on pension funds will be removed before age 75, some commentators have suggested that over 90% of people retiring in good health should expect to live beyond age 75. For someone with moderate levels of health issues, over 80% might expect to live to at least 75. The tax landscape beyond age 75 is different, with tax being paid on monies passed on. (more…)

Pension tax charge abolished sooner rather than later

Posted on October 31, 2014 by - News, Retirement

New rules will simplify the existing regime from April 2015

The Chancellor, George Osborne, has brought forward the expected announcement on the tax charge that applies to certain individuals’ pensions on their death. The new rules will simplify the existing regime and come into force from April 2015, abolishing the 55% tax that applies to untouched defined contribution pension pots of people aged 75 or over, and to pensions from which money has already been withdrawn. (more…)