Contact

News & Insights

Are you over 65 and still working?

A former pensions minister described the increase in the number of older workers as a ‘social revolution’. The figures can be partly attributed to a rise in the state pension age from 60 for women. It has been going up since 2010 and will hit 65 by 2018, bringing it in line with that of men. For both sexes, it will rise to 66 by 2020 and 67 by 2028.  Legislation was introduced five years ago banning employers from forcing staff to retire at 65 and the demise of generous final-salary pension schemes means most people must work for longer.

The concern that private pensions are unable to sustain people if they retire earlier is also seen as a driving factor, as people have not made ample provision and are, therefore, rightfully worried that they will be in penury if they retire too soon.

On another note, it appears that savers are raiding their pensions in increasing numbers to assist their grandchildren onto the housing ladder.  It has been reported that over 55’s have taken out over £28 million a day in the last 3 months.  The concern with this is that an early raid can leave a deficit when the pot needs to last at least 20 years after age 55.

If any of the above strikes a note with you, given that you will be relying on your pension for long term provision, you should seek advice from a reputable independent financial adviser before taking any action.  An hour’s discussion could significantly alter your future lifestyle for the better – fill in a contact form here to get in touch.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Getting your numbers right

During the last political year, we have been given statistic after statistic by politicians who sound like they know what they are talking about. They can, at times, sound very convincing and even believable. But how do we know what is right and what is not?  The average person has no idea how much being a member of the EU costs per day. While even experts don’t know precisely how much the UK will save by not having to pay the EU after it exits the European Union.

Read More

The best places for sun-seeking expats

Sunglasses on a beachNow that September is here, the summer is definitely drawing to a close for another year. For those of us living in the UK, we no doubt have a dark, cold, and almost certainly, wet autumn and winter to look forward to. While this summer may have been better than some years – 2017 saw the country blessed with bursts of intense heat, including the hottest August Bank Holiday weekend on record – the warm sunshine was only fleeting.

It’s no wonder then, that so many Britons become tired of the long stretches of gloomy weather of their native land, choosing to move to warmer climates; and this is backed up in the the latest Expat Insider survey from InterNations.

Read More

Select your country

Please select your country of residence so we can provide you with the most relevant information: