Entries by Shona

Interest rates rise above 0.5% for the first time in a decade

The Bank of England (BoE) has increased interest rates above 0.5% for the first time since 2009. Today, the Monetary Policy Committee (MPC) voted unanimously to push up the base rate by 0.25% to 0.75%. That’s not a massive increase; savers aren’t going to suddenly start seeing real returns on most of their bank or […]

Retirement planning: Four factors which will affect the income needed in retirement

Since the introduction of Pension Freedoms, the amount of people accessing their retirement income via a drawdown arrangement has increased dramatically. More than £17.45 billion in flexible payments has been accessed by those in and approaching retirement (Source: HM Revenue & Customs (HMRC)). However, when planning your retirement income, it is important to ensure that […]

10 signs it’s time to get financial advice

How often do you wake up with the intention of getting financial advice as your number one priority? For almost everyone, the answer is never. Rather, the urge to seek financial advice is usually triggered by an event, or idea. According to research from the Financial Conduct Authority (FCA), less than one in 10 UK […]

Pretirement: Why work during retirement?

‘Pretirement’ might sound like an early retirement, but it’s anything but. In fact, ‘pretirement’ is a term coined to describe the act of easing into retirement; or working beyond State Retirement Age. This could be full-time, part-time, or on a consultancy basis. Of those reaching the age of 65 in 2018, 50% will enter ‘pretirement’, […]

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 […]