News & Resources

Money lessons

5 tips that add up to teaching your child about money matters

Understanding how money works is an essential life skill. Unfortunately, for a lot of people, these lessons come later than they should, and often as the result of something going terribly wrong.

Not enough people make financial education a priority for children, which results in young adults entering a surprisingly complex financial world without the tools necessary to survive and thrive. Even if your children are very young, … Read the rest

‘Presenteeism’ more of a problem than absenteeism

Nine out of ten employees continue to work even while being ill

Feeling ill? Well, staying at home would seem to be the sensible course of action. However, for many, going to work while sick has become the norm. Employers are seeing more staff turning up to work while ill, according to a new survey[1].

The problem of presenteeism has seen an increase of three times as many people working while ill than ‘taking a sickie’. There is no official … Read the rest

Parents and grandparents delay passing on wealth

Growing uncertainty over the future cost of care the main concern

Increasingly, we read and hear about how the Bank of Mum and Dad is being stretched to the limit, as children are making increasing calls on its limited resources. However, research shows that a quarter (24%) of over-55s[1] are not planning to pass on any wealth in their lifetime over fears they could face crippling care costs in old age.

This means that an estimated 4.8million[2] parents and grandparents … Read the rest

Working into old age

Three quarters of UK employees say they won’t be able to retire by the age of 65

Britain is growing old, and not just proverbially. As the population is set to increase, the proportion of the population aged 85 and over is projected to double over the next 25 years[1], and the number of those working for longer rises with it. Recent figures[2] reveal that nearly three quarters of UK employees say they won’t be able to retire by the
Read the rest

Generation game

Lending soars at Bank of Mum and Dad

The Bank of Mum and Dad has been branded as socially divisive and a symptom of Britain’s broken housing market as new figures reveal it is now one of the UK’s biggest mortgage lenders. Thousands of over-55s are generously gifting money as part of the Bank of Mum and Dad, using savings and even pensions to help their family onto the housing ladder, research has revealed[1].

However, the new data also shows … Read the rest

Mind the income gap

Significant gap between expectations and reality of what life in retirement will cost Generation Z

When most people envision their retirement, positive images start forming. We may picture spending our days lounging on the beach, travelling, practising our favourite hobbies, or having free time to spend with friends and taking the grandchildren on countless adventures.

But it’s becoming clear that because so many people associate only upbeat feelings with retirement, it might turn out to be a problem. This could … Read the rest

Get-rich-quick schemes

Financial fraud nets millions for organised crime scammers

Fraudulent get-rich-quick schemes are netting millions for organised crime. But investment scams can be difficult to spot because they’re designed to look like genuine investments, with most scammers having a professional-looking website and documents.

In the first six months of this year, across all categories of financial fraud, a total of £207.5 million was stolen from almost 60,000 people, according to UK Finance, an industry body. Increasingly, they are using sophisticated and … Read the rest

Gender gap in retirement savings

Women say they will have £100,000 less in retirement than men

For women, the salary gap they face during their careers eventually turns into a retirement savings gap. While our country has come a long way on gender equality, the pay gap remains a prominent issue. It’s felt in many aspects of women’s lives, most significantly in retirement savings.

Women are saving less than men for their retirement, with only 15% saving for the future compared to 20% of men[1]. … Read the rest

‘Sandwich generation’ carers

Nearly half a million quit their careers in the last two years alone

The decision to look after an elderly, ill or seriously disabled relative has been made by 2.6 million people according to new research by Carers UK[1]. The findings also reveal that nearly half a million (468,000) have quit their careers in the last two years alone – more than 600 people a day. This is a 12% increase since Carers UK and YouGov polled the public in
Read the rest

State pensioners

Inflation-busting increase to weekly payments on the horizon

In October this year, those receiving the State Pension are likely to find out that their weekly payments will increase by 4% from April 2020, subject to any last minute adjustments.

This means the full new State Pension will see an increase from £168.60 weekly to £175.35 weekly, and the full old basic State Pension will see a rise from £129.20 weekly to £134.35 weekly.

‘Triple lock’
Under current rules, the State … Read the rest

Health fears

Barrier to employment and retention of older workers

Older workers are an invaluable component of the UK workforce, given their extensive industry knowledge and expertise that all colleagues – particularly younger generations – can benefit from.

They also represent a valuable talent pool for employers as Britain struggles to counter a growing skills shortage. It’s an unfortunate fact of life that health concerns tend to become more frequent as we age, and they will become more common in the workforce … Read the rest

‘No, thanks’ to downsizing

More baby boomers plan to stay in their own home

A growing number of ageing baby boomers are saying, ‘No, thanks’ to downsizing, choosing instead to remain in the same house in which they raised their family and created lifelong memories.

Over two thirds of people say they plan to stay in their own home during their retirement, according to new research[1]. The findings suggest nearly 14 million people plan to remain in their current home when they retire. Typically, … Read the rest

A long life needs a smart retirement plan

Reaching the big 50 can be a financial wake-up call

Your 50s are a crunch time when saving for your retirement. If you’ve already set a retirement savings target but have been neglecting it, the reality is that now you can’t afford to delay your planning any further – and it’s time for a careful review.

Are you on track to retire when you want to? Do you have enough in your pension pot to retire comfortably? A comfortable lifestyle … Read the rest

Every journey starts with a destination

Looking at the bigger picture for your wealth and security

Every plan starts with a goal, just like every journey starts with a destination. Planning your financial future is not only important for your security, but it also provides peace of mind. Financial planning should be viewed as a long-term approach to managing your finances.

Creating your financial plan will help you see the bigger picture and set life goals, which are crucial for mapping out your financial future. When … Read the rest

Time to update your planned retirement date?

Savers risk missing out on money from their final pension pot

Millions of savers risk missing out on money from their final pension pot if their provider doesn’t have their correct planned retirement date. The analysis[1] revealed that workplace pension savers in the UK could miss out on thousands of pounds in retirement because they haven’t updated their planned retirement date.

Recent changes to State Pension age, and the removal of the default retirement age, means people are now free … Read the rest

‘Sleepwalking’ into retirement

How much will you need to save to afford a comfortable retirement?

There is a widespread and common-sense-based perception, backed to some extent by evidence, that planning and preparing for later life is associated with increased well-being in older age. Despite this, it’s concerning that some people at mid-life have not thought much about their later life nor taken fundamental future-oriented actions, such as engaging in financial planning or writing a Will.

New research[1] highlights the fact that millions of … Read the rest

Tax-efficient shelters

Use your ISA allowance or lose it forever

Even though the Individual Savings Account (ISA) deadline may be a number of months away, and despite the tax year date remaining the same year in year out, somehow it always creeps up on us. A tax year runs from 6 April one year to 5 April the next.

So rather than subjecting yourself to the mad rush of deciding how to fully utilise your 2019/20 ISA allowance, now is a good … Read the rest

No guarantee can be given that the information provided is accurate in the present or the future. It is not intended to constitute either a statement of applicable law or financial advice, and responsibility cannot be accepted for any subsequent loss following activity or inactivity by any individual or organisation. Indeed, such information should NOT be acted upon without first receiving appropriate and specific professional advice.