{"id":5607,"date":"2022-04-26T14:04:53","date_gmt":"2022-04-26T13:04:53","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=5607"},"modified":"2022-04-27T08:56:32","modified_gmt":"2022-04-27T07:56:32","slug":"money-in-the-news-2","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/04\/26\/money-in-the-news-2\/","title":{"rendered":"Money &#8211; In the news"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Savers say\ngoodbye to \u00a334m in LISA bonuses<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>During the\n2020\/21 tax year, HMRC reclaimed \u00a334m in Lifetime ISA (LISA) withdrawal charges<sup>1<\/sup>.\nAlthough the government reduced withdrawal charges for LISAs from 25% to 20% in\n2020 (to 5 April 2021) to help those who had no choice but to access their\nsavings during the pandemic, this figure represents a threefold increase on the\nprevious tax year (2019\/20). No doubt the decision to access these savings\nearmarked for home purchases and retirement, was likely to have been a\ndifficult decision for many, knowing they would be penalised on withdrawal.\nThere have been calls on the government to reassess the withdrawal charge. We\nwill keep you posted with any developments.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Making your money last in retirement<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Research<sup>2<\/sup>\nhas found that over a third of retirees (37%) don\u2019t think they will have enough\nmoney to last their full retirement. Nearly half of those surveyed (48%) said\nthey plan to reduce their spending habits to support themselves in retirement, while\nnearly one in three (27%) expect to continue to work part time and a fifth\n(21%) plan to sell their property or downsize. With longevity increasing and\nretirement consequently lasting many more years, the need to take advice to\ndraw up a robust financial plan has never been so important.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>FoI\nrequest, 2022<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>&nbsp;<sup>2<\/sup>abrdn,\nSep 2021<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The value of\ninvestments can go down as well as up and you may not get back the full amount\nyou invested. The past is not a guide to future performance and past\nperformance may not necessarily be repeated.<\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Savers say goodbye to \u00a334m in LISA bonuses During the 2020\/21 tax year, HMRC reclaimed \u00a334m in Lifetime ISA (LISA) withdrawal charges1. Although the government reduced withdrawal charges for LISAs from 25% to 20% in 2020 (to 5 April 2021) to help those who had no choice but to access their savings during the pandemic, [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":5608,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,88,90],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/5607"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=5607"}],"version-history":[{"count":4,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/5607\/revisions"}],"predecessor-version":[{"id":5624,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/5607\/revisions\/5624"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/5608"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=5607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=5607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=5607"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=5607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}