Posted on September 2, 2015 by admin - Uncategorized
Helping children financially through university may mean resorting to drastic measures
Parents are still very much in need of a reality check when it comes to the true costs of a university education according to the latest annual student debt research by the Association of Investment Companies (AIC) using Opinium Research. And while over two thirds of parents plan to help their children financially through university, many say they have to resort to drastic measures in order to do so, whether it be downsizing the family home (9%) or using their entire cash savings (22%). (more…)
Posted on September 2, 2015 by admin - Uncategorized
Over-50s changing the way they work in later life
If you are approaching your 50s, you may be considering your retirement options. Perhaps you want to work flexible hours and work when it suits you. You might want to be ‘your own boss’ and set up a business or become self-employed. Or you may want to know what your options are for working after retirement. (more…)
Posted on September 2, 2015 by admin - Uncategorized
Financial fraudsters using reforms to target retirees
Changes to the pension rules are creating new opportunities for scams. Be cautious of anyone approaching you with advice on how to invest your pension. Almost one in ten pensioners has been targeted by financial fraudsters since their retirement. (more…)
Posted on September 2, 2015 by admin - Uncategorized
More than ten million pots are being left largely unmonitored
Individuals are living longer, meaning that savings have to fund a longer period of retirement. However, there has been a well-documented decline in pensions saving over time. Many people do not think about retirement as they consider it’s too far in the future, and almost two thirds (63%) of over-45s who are not yet retired admit they pay little or no attention to their pensions, leading to more than ten million pots being left largely unmonitored[1]. (more…)
Posted on September 2, 2015 by admin - Uncategorized
Reduction in the amount those with income of more than £150,000 can contribute tax-free to pensions each year
A gradual reduction in the tax-free limit on pension contributions from the current £40,000 a year to £10,000 for high income individuals was announced by the Chancellor, George Osborne, in the July Summer Budget 2015. High income individuals could see their retirement pots reduced by hundreds of thousands of pounds over a lifetime after he confirmed that pensions tax relief will be reduced for those with income (including all pension contributions) of more than £150,000. (more…)
