Entries by Shona

Minimum pension contributions rise: what do you lose by opting out?

What does £98,000 mean to you? For some, that’s the deposit on a new house, for others it’s financial security and the knowledge that they will not have to worry about their income in retirement. For young people thinking about opting out of a Workplace Pension as a result of the minimum contribution increases, it’s […]

Four ways Pension Freedoms has changed retirement

The way pensions are accessed at the beginning of retirement has changed since the introduction of Pension Freedoms in 2015. The reforms mean that those aged 55 and over are less restricted in their ability to access their retirement fund. These options mean that those nearing pension age have been faced with a range of […]

Are you in a financially compatible relationship? …And does it matter?

Almost two thirds (60%) of people believe that financial compatibility is one of the most important factors in a successful relationship, according to Scottish Widows. But what is financial compatibility? Like any part of a relationship, financial compatibility is multi-faceted and will look different for every couple. However, the research states that incompatibility “includes a […]

Knowledge is power: Do you know what your pension is worth?

According to research from the Financial Conduct Authority (FCA), most adults are not paying enough attention to their pension, leading to difficulties in retirement. Pause for thought The report shows that many people are not setting aside the time to think about their retirement income, with: 75% admitting they have either not considered their retirement […]

Seven changes you need to know about in 2018

As we head into 2018, with a new financial year a few months away, the government is preparing to introduce several changes. These will come into effect in April, and it is likely that you will be affected by at least one of them. Being prepared is the key to making the most of the […]

62% of adults don’t understand inflation; here’s our quick explainer

Only 38% of UK adults know what inflation is, according to research from The Organisation for Economic Cooperation and Development (OECD). The data also shows that adults in at least 14 nations have a better understanding of inflation than Brits. To help put this situation right, we’ve created a short explainer covering the main points. […]

Pension Freedoms: Ignorance isn’t bliss

“Real knowledge is to know the extent of one’s ignorance.” Attributed to Chinese philosopher Confucius, this timeless phrase has never been more apt than when applied to the topic of Pension Freedoms. A new report, from Old Mutual Wealth has revealed that many 50-60-year olds are uninformed about Pension Freedoms, with: 45% not knowing about […]

Urgent call from MPs to ban pension scam cold calls

Introducing legislation to ban cold calls from pension scammers has been on the Government’s radar for some time. But now, following a lengthy delay, MPs are calling for action to be taken sooner, rather than later, pushing for the Financial Guidance and Claims Bill to be approved. What has happened so far? The Government’s plan […]

Seven tips for choosing the right savings account

The Bank of England (BoE) interest rate rise made a splash in the headlines last year. However, the subsequent announcement that inflation continues to increase, and has since hit a six-year high, is one of the biggest causes for concern for savers. As a result of the rate rise, many banks and building societies have […]