3 personal finance developments to watch out for in 2016

The Pension Planner At retirement, Front page posts, Inflation, Investment planning, News & Views, Saving for retirement, Tax & Estate planning

As always, the new year will find numerous shifts within the financial planning landscape for us all. Changes happen largely due to new regulation or policy introductions and, while there isn’t anything nearly as dramatic as 2015’s launch of pension freedoms around the corner, there’s still lots to look for in 2016. Here’s 3 of the largest changes you might want to familiarise oneself with.   Digital tax. Digital tax accounts are on their way… although over a fairly slow rollout currently! The aim from HMRC is to get everyone who completes a self-assessment tax form to do so electronically …

The Pension Planner3 personal finance developments to watch out for in 2016

A Fresh Year for investment markets, but China continues with a similar story

The Pension Planner At retirement, Front page posts, Investment planning, News & Views, Saving for retirement

We generally enter 2016 as a new start having a fresh year in front of us, however, it appears China has missed this New Year memo! The concern over Chinese markets impacted on worldwide stocks and shares in 2015, the start of 2016 has witnessed much the same story. The Shanghai Composite sector fell 7% on the 4th of January, prompting suspensions rules after just thirty minutes of trading.  The same market recovered on the 6th, finishing 2.3% up, however, on the 11th there was renewed fears. In America, the Dow Jones and S&P 500 adopted this news from China …

The Pension PlannerA Fresh Year for investment markets, but China continues with a similar story

Protecting your Pension Savings

The Pension Planner At retirement, Auto enrolment, Front page posts, News & Views, Saving for retirement

Pension Savings from April 2015 The latest pension rules, going into effect this April, will allow individuals over 55 to get as much cash as they want from their Defined Contribution (DC) pension schemes, at lower tax rates. In dealing with the latest system, Age UK has shown fears that some pensioners might use up their savings within a decade. The group has recommended pension providers create “jam jar” tools to help individuals grasp the condition of their pension resources to allow them to handle budgets and control their cash. Age UK also advised that individuals have the ability to …

The Pension PlannerProtecting your Pension Savings

What will Pension Wise offer

The Pension Planner At retirement, Auto enrolment, Front page posts, News & Views, Saving for retirement

Pension Wise is good, but has limitations Soon after George Osborne’s statement in the 2014 Budget that over-55s would have the benefit of greater freedoms around their pensions, the government has provided information on its free ‘advice’ service, which has also been introduced in last year’s Budget. The service, which has been named Pension Wise, provides to people who meet the eligible age a ‘guidance guarantee’ appointment of 30-minutes with a pension advisor. The consultations can occur in person or over the phone and Pension Wise is going to be jointly administered by CAB and The Pension Advisory Service. Whilst …

The Pension PlannerWhat will Pension Wise offer

5 Retirement worries

The Pension Planner At retirement, Auto enrolment, Front page posts, News & Views, Saving for retirement

Will you be relishing your future retirement, whenever it is due?   The latest survey from Aegon discovered that whilst people continued to possess positive aspirations for retirement, there is nevertheless a shortage of confidence that retirement would really deliver.  Plan carefully though and you could address all your future concerns and make sure you are prepared to have a happy and rewarding retirement. Below, we examine a few of the most typical retirement worries and the way they may be mitigated by keeping an eye on detail.  1 – Am I going to have sufficient funds to last through …

The Pension Planner5 Retirement worries

Do Annuities still have a role

The Pension Planner At retirement, Front page posts

The future of Annuities What job are annuities going to play in pension planning when retirement freedoms start from 6 April 2015? There is much discussion regarding annuities, especially after Chancellor George Osborne declared numerous alterations to pensions from April 2015, something welcomed by Standard Life within a recently issued bulletin. These alterations suggest pensions are getting more adaptable, with savers receiving the ability to control the funds they’ve saved over the years – after all it is their money! They are able to obtain those funds whenever they decide to after age 55. This suggests individuals will now have …

The Pension PlannerDo Annuities still have a role

Pensioner Bonds

The Pension Planner At retirement, Front page posts, Investment planning, News & Views

New Pensioner Bonds First announced in the March 2014 Budget Speech, these new ‘pensioner bonds’ have recently been launched. The returns have now been announced and sees them prominent in the bond market, the 1 year  bond offers 2.80% gross/AER, the 3 year bond gives a very attractive 4.00% gross/AER. The informal name arises from the reality that they are just obtainable by people aged over 65, offering retirees a unique chance if they choose to invest.  The bond issue has been limited to£1 billion, with people allowed to buy a maximum of £10,000 per term. Since they can be prchased …

The Pension PlannerPensioner Bonds

Pensions 2015 – What can we expect?

The Pension Planner At retirement, Auto enrolment, Front page posts, Inflation, News & Views, Saving for retirement

Pensions going forward Last year was obviously a significant year for pensions. Alterations surrounding how pensions may be taken at retirement, and the way death is taxed on pensions is to be made better were declared.  The intention is for these new policies to be live after April 2015. For any retirement saver, the environment has evolved and should carry on doing so, this will have an effect on how many plan for the future. A key outcome will probably be the arrival of a fresh product range to support the latest flexibility around ways to take your pension at retirement.  Annuities, historically the …

The Pension PlannerPensions 2015 – What can we expect?