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

Things to Consider When Buying a Property Abroad | Blacktower

Things to consider when buying a property abroad If you’re thinking about buying a property abroad, there are multiple factors to take into consideration first. Aside from the process being more complicated due to distance, each country has its own regulations, systems and taxes that come into play, which is why buying a house overseas […]

Read More

Abandoning the ‘Lottery Mentality’

Lottery ticketNearly everyone dreams of winning the lottery and sailing into their sunset years of retirement aboard a superyacht of financial freedom and security. The problem is, however, that simply buying a lottery ticket is very unlikely to result in anything other than the needless spending of your hard-earned money.

In fact, when you buy a Euromillions ticket your chances of winning the jackpot are just 1 in 139,838,160* – you are almost certainly more likely to be struck by lightning or involved in a road accident while on the way to buy your lottery ticket than of winning the jackpot.

Read More

Select your country

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

You are currently viewing the Blacktower Financial Management EU website.

You may be looking for the Blacktower United States website.

Blacktower United States > X Stay on this site

Or choose your country.