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Nearly half of all over-55s plan to downsize: But do they really need to?

New research has revealed that an astonishing 3.9 million over-55s plan to downsize their home as they head to retirement. The study, from Prudential, showed that nearly half (47%) of over-55s plan to move to a smaller property in years to come. The main reason given was one of convenience, with many wanting a smaller garden. However, finances played a big part in the decision-making process, with: 60% intending to use the money to boost their retirement income 13% believing they couldn’t afford to retire…
22nd September 2017

The value of financial advice

29th August 2017

5 Reasons to buy your business premises in your pension

If you run your own business, the rent you pay for your premises is probably one of your largest outgoings. Many business owners begrudge paying rent each quarter, often seeing it as ‘dead money’. However, despite interest rates remaining at low levels for nearly a decade, buying their own premises, often because they can’t raise the deposit that is required, is out of reach for many business owners. A potential solution is available, which many business owners don’t know about, yet could mean an end…
18th August 2017

Revealed: The three retirement mistakes thousands of people are making

It is often said that you can only go forward by making mistakes. In many cases, that’s true. Providing you learn from them, of course. However, some things are worth getting right the first time around, one of them being your retirement planning. Having enough money to support you when you stop working may not seem like a big deal now. However, pensioner poverty is unfortunately very real, and increasingly common. Careful planning can prevent this, but new research reveals that thousands of people are…
11th August 2017

6 tips to rebuild your retirement plans after a divorce

Divorce. It’s a subject that’s unlikely to make for a cheery read, but it’s an important one to talk about nonetheless. In 2015, the Office of National Statistics (ONS) reported 101,055 divorces, and estimated that 42% of marriages will eventually end this way. A divorce can have far-reaching effects, both emotionally and financially. And, new research from Prudential reveals the extent to which it could blow your retirement plans way off track. The figures show: The expected annual income in retirement for people who have been…
4th August 2017

Pension or Buy to Let: Which is better?

I sometimes feel that we love property, especially Buy to Let, as much as we hate pensions. I know that’s a huge generalisation, but there’s no doubt, based on regular conversations I have, that it feels true. So, I thought we’d compare the two to try and answer the question once and for all. If you are starting to take retirement planning seriously, which should you use; a pension or Buy to Let? Contributions Pension: If you are employed, you probably have access to a…
24th July 2017

What happens to your pension when you die?

Let’s deal with the elephant in the room straightaway. Yes, this is an article about pensions and death; neither the most pleasant of topics. But, taken together, hugely important. One of the myths about pensions, which probably stops some people making contributions, is that the money will be lost on death. That isn’t the case, although there’s no denying that the rules are complex. So, please bear with us for a few minutes, and read on, because you probably have a pension and, well, you…
24th July 2017

State Pension Age to increase earlier than planned

The Government has announced a change in its plans for the State Pension Age, delaying it by a year for six million people. The plans will increase the State Pension Age to 68 for people currently aged between 39 and 47. The change will be phased in between 2037 and 2039, seven years early that had previously been proposed. The Government believes the change will reduce the cost of the State Pension by £74 billion by 2045/46. In an announcement today, David Gauke, the Secretary…
19th July 2017

Confusion over pension contribution cap resolved

The Government has moved to resolve the confusion over the amount some people can pay into their pension. Although, not everyone will be happy with the news. Announced in the Budget earlier this year, the change proposed a cut in the amount some people could pay in to their pension. Known as the Money Purchase Annual Allowance (MPAA), it caps the amount some people, who have already drawn money from their pension under the new Pension Freedom rules, can subsequently contribute. The Government proposed a…
18th July 2017

Surprise ‘triple lock’ U-turn announced as DUP signs deal with Conservatives

The Conservative party has scrapped a manifesto commitment to drop the State Pension ‘triple lock’, along with plans that would have seen the Winter Fuel Payment means-tested in the future. Announced earlier today, the news comes at the same time as a confidence and supply deal, with the Democratic Unionist Party (DUP). The DUP has agreed to back the Conservative Government on key votes. The ‘triple lock’ means the State Pension increases by whichever is the highest out of: The rate of inflation as measured…
26th June 2017

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