Today's long term savers face many challenges. At Blacktower, we want to help you through all financial planning adversity, whether you need advice on regular savings in Grand Cayman or help with inheritance tax planning in France.
One major savings goal that many parents wish to work towards is having enough money to send their children on to higher education. This goal became harder to attain when university tuition fees were increased back in 2012, some by as much as three times. Now, a new proposal may further shake things up in terms of how much money parents will need to save.
The government has released a green paper proposing measures for companies struggling financially to reduce pension payments for employees in a bid to save money.
The green paper explores methods of ensuring that defined benefit pension schemes, also known as final salary schemes, remain affordable for employers. Recent cases involving pension fund deficits, such as the BHS scandal, have made it clear that the system needs review.
Managing your finances is not an easy task, and many people worry whether they'll have enough money to last them through retirement. Most people are likely to need a helping hand from a financial adviser, and a new move from the government will help make receiving this advice easier than ever before.
New plans, to be introduced in April 2017, will allow pension savers to withdraw a tax-free lump sum of £1,500 from their pensions so that they can pay for financial advice regarding their retirement funding.
Is your final salary scheme safe? Are you aware that many of these schemes are seriously underfunded? What is the exact deficit of your final salary scheme? Brexit and the BHS scandal have brought the pension deficit story in to the media spotlight again. However, the issues with defined benefit schemes have been brewing for some time. The UK faces a very real pension crisis with several schemes close to collapse unless serious steps are taken to address the growing problem.
There has been unity among groups representing British expats living in EU nations – particularly Spain, Germany France, Belgium, and Italy – in an attempt to convince MPs to ensure expats have their rights sufficiently protected during Brexit.
The "Alternative White Paper", published the same day the government released the Brexit White Paper setting out plans for leaving the EU, demands that expats' rights be prioritised during exit agreement negotiations once Article 50 has been triggered.
Making sure you have enough money for retirement is a crucial part of your financial planning process. But some workers may struggle to save more than others.
The government is looking to make reforms to automatic-enrolment (AE), possibly putting employees who work seasonally or part-time at a disadvantage when it comes to saving up for their pension.
Once again the NS&I (National Savings and Investments) are about to cut the returns they give to Premium Bond holders. The returns they give are already poor and to reduce them further is a travesty considering the many loyal supporters Premium Bonds have.
Relocating to a new place can be an exciting time. Experiencing different environments is usually a good thing, and moving abroad can open up many opportunities, such as the chance to learn a new language and experience a different culture first hand. Whether you've relocated in retirement, because of work, or to be with a partner, the expat life can certainly be a fascinating one.
However, once you have your accommodation and finances sorted out, the absence of friends, family and UK home comforts can begin to take its toll. Homesickness can be hard to shake.
If, as an expat, you are feeling low, there are several things you can do to help make yourself feel at home no matter where in the world you find yourself.
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