Most UK adults lack essential knowledge about their pensions and how they’re invested A significant number don’t know their State Pension entitlement or how it’s calculated Many want to consolidate pensions but don’t know how to start New research1 has shone a light on the extent of pension knowledge gaps among UK adults. While 53% […]
Category archives: Pensions & Retirement
Get Budget-ready this summer
Summer is the ideal time to review financial goals and investment strategies Utilising tax allowances now can protect your wealth from future policy changes Long-term investing remains key, even amid short-term market volatility Summer should bring a welcome shift in pace: longer days, warmer evenings, time off and the chance for some well-earned rest and […]
HNWIs face gaps in retirement and succession planning
Research shows a third of European HNWIs are yet to make a financial plan for retirement 80% of survey respondents plan to pass wealth to their children, but only 34% have a plan in place Over half of respondents are focused on growing their wealth through investing in equities and/or real estate Many high-net-worth individuals (HNWIs) […]
IHT receipts continue their ascent
IHT receipts topped £6.3bn in the eight months to December, a £600m increase on the same period the previous year OBR predicts IHT receipts will continue their ascent, forecasting total receipts of £9.7bn a year by 2028/29 Factors including a rise in asset values and frozen thresholds are contributing to rising receipts HM Revenue and […]
Pension pulse – a reminder for ‘25
Aside from the change announced about bringing unused pension pots into IHT from April 2027, other announcements relating to pensions were thin on the ground during the Budget speech. The Chancellor confirmed that the State Pension will increase in line with average earnings, rising by 4.1% in April 2025. The new flat rate State Pension […]
End of tax year IHT recap – gen up on gifting allowances
Recent HMRC data shows that IHT receipts rose to £4.3bn during the period from April to September 2024, a £400m increase on the same period the previous year. With 27% of 18 to 34-year olds (1.1 million people) holding out for an inheritance before going ahead with major life events and 12% of UK adults […]
The changing face of retirement – as the traditional ‘hard-stop’ is consigned to history
Catalysed by the 2011 abolition of the Default Retirement Age, a combination of economic and socio-demographic trends are changing people’s outlook to retirement; and this, in turn, is heightening the need to adopt a more fluid approach to retirement planning. Carry on working Research1 suggests the traditional ‘hard stop’ retirement is increasingly being consigned to […]
Family tensions over money talks – time to break the taboo
Many wealthy individuals hesitate to discuss financial planning due to fears of family disagreements, with 10% avoiding the topic altogether and 27% finding it uncomfortable1. However, this reluctance to have a discussion could lead to future misunderstandings, as family members may have unrealistic expectations about their inheritance. Only 12% of wealthy individuals said they regularly […]
Taking steps to avoid a retirement overspend
A fifth of respondents to a survey1 have consistently spent more than they expected to during their retirement so far. Moreover, 11% of the over-55s surveyed also said their overspending had occurred early on in their retirement. So, what were the biggest reasons behind the overspend? Cost of living (28%), housing costs, including mortgage payments […]
Dive into ’25 on top of key tax changes
A couple of months have passed since the Autumn Budget, a significant milestone for the Labour government. A comprehensive set of measures impacting individuals and businesses were announced, featuring £40bn in tax increases. Key announcements involved Inheritance Tax, Capital Gains Tax, domicile status, VAT on private school fees, Stamp Duty and Income Tax thresholds. Inheritance […]