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Interesting curation of Blacktower Financial Management news

Here is an interesting curation of Blacktower Financial Management web pages with financial advice and news mostly for expatriates seeking to grow and protect their wealth.

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

Defined benefit schemes – a ‘ticking time bomb’?

Following the news that no new buyer was interested in BHS and its £571 million pension deficit, a number of our clients with a working history in BHS got in touch with us to find out their position and options with regards to their future pensions. Unfortunately, it was too late as the window had closed. The BHS scheme got into the Pension Protection Fund, a statutory fund in the U.K., intended to protect pensioners if their pension fund becomes insolvent. What this means is that they are now locked in without any possibility of looking at alternatives and transferring out. For deferred members, this means a potential reduction in pension income as the PPF only compensates 90% of the income up to a certain cap.

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Blacktower View: Saving for grandchildren

Piggy bank in a nest of moneyMany British pensioners enjoy healthy private pensions or have built up substantial savings that more than meet their day to day living needs. It is not surprising then to learn that about one in ten elects to gift part of their savings to their grandchildren, with average gifts amounting to £15,000 according to a survey by OneFamily.

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