How long would your savings last?

A recent survey has found that the typical working person in the UK has around a month’s worth of savings to be able to maintain their current lifestyle should their income stop without warning. The data collected from 2,000 people found that the average person’s savings would support them for 32 days. More worryingly, 26%... Read more » Read More

Why retirement is worrying millennials and what steps they are taking

A recent study by HSBC has revealed the main financial worries of the ‘millennial’ generation, recognised as those born between 1980 and 1997. As its title suggests, the ‘Future of Retirement’ survey focuses primarily on how millennials feel about how they are preparing for life after work, but also delves into the wider issues around... Read more » Read More

Auto-Enrolment update: it’s the turn of small businesses

As auto-enrolment in pension schemes continues to roll out, the staging date for many small businesses is fast approaching. Whilst The Pensions Regulator estimates that 374,300 small employers enrolled in 2016, more than double that amount will reach their staging date in 2017, with the figure estimated at around 800,000. Recent figures from YouGov revealed... Read more » Read More

Earning over £150,000? You need to review your pension. Here’s why.

If your annual income is above £150,000, then your pension allowance has been subject to tapering since April this year. For every £2 of income over £150,000, your £40,000 annual allowance is reduced by £1, with the reduction rounded down to the nearest whole pound if necessary. Reductions are capped at £30,000, meaning that those... Read more » Read More

Understanding sequence of returns risk

Come 6 April 2015, anyone over the age of 55 can withdraw as much or as little income as they like from their accumulated pension savings. Therefore, when it comes to using your pension fund to provide an income, although an annuity (an insurance product which provides a guaranteed income for life) will still be the right choice for many, it’s expected that an increasing number of people will be attracted to income drawdown. Read More