Economic Review – August 2020

September 10, 2020
Faster rebound; slower recovery As recent economic statistics confirm the UK officially entered recession, Bank of England (BoE) forecasts suggest the slump will be less severe than previously thought, but the ensuing recovery is likely to take longer. Data released by the Office for National [...]
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Don’t let the pandemic derail your retirement plans

August 7, 2020
The pandemic is having a far-reaching impact on all aspects of our lives, not least our finances. Although stock market volatility has posed challenges, you must not allow the outbreak to send your retirement plans off track. RESILIENCE SAVES THE DAY The need to develop [...]
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The pensions challenges of Gen X

August 7, 2020
We are used to hearing about the bleak financial prospects of Millennials and Generation Z, compared with their older Baby Boomer counterparts. But we hear comparatively little about the long-term savings position and financial health of people born between 1966 and 1980. A new report1 [...]
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Be scam aware

August 7, 2020
Several UK bodies, including the Bank of England, National Crime Agency and the Financial Conduct Authority (FCA), have warned people to be particularly vigilant about scams, many of which are targeting vulnerable people, such as those who have lost their jobs or are under greater [...]
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Balancing pension pots

April 9, 2020
While the gender pay gap is now widely discussed and publicised, the gender pension gap is less prominent, but by the age of 50 women have saved an average of just £56,000 into their pension pots vs £112,000 for men1. THE GAP STARTS AT BIRTH [...]
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Women have two-thirds less saved at retirement

April 9, 2020
With people living longer due to higher living standards and better healthcare, people’s pension savings are having to stretch further. This is an especially worrying thought for women, who have on average £106,000 less in their pension pots than men when they reach retirement. While [...]
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Pension allowance breaches surge

March 11, 2020
HMRC data has revealed a significant increase in the total value of pension contributions exceeding the annual allowance, with more and more people falling foul of the complex rules and regulations. The latest personal pension statistics, which cover 2017/18, show a staggering 26,550 people reported [...]
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The evolution of ethical investing

March 11, 2020
Ethical investment has traversed into the mainstream, as people increasingly choose to allocate their investable funds toward companies whose values and practices align with their personal beliefs, whether they be environmental, social, religious, or political. Some investors may choose to eliminate specific industries or allocate [...]
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University challenge of digs and tuition

February 20, 2020
In recent years it has become more widely accepted that university isn’t the only route to satisfying and rewarding employment. Apprenticeships and vocational training are among the other paths available; and there are many instances of success in business by those who entered a workplace [...]
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Economic Review – January 2020

February 20, 2020
BREXIT DELIVERED? The UK officially left the EU on 31 January and is now embarking on an 11-month transition period during which formal trade negotiations will take place. Brexit has undoubtedly been an arduous process, costing two British Prime Ministers their jobs and dividing families [...]
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Work for yourself? Make your pension work for you

February 20, 2020
Self-employment offers many benefits: being your own boss and having the flexibility to choose your working hours being but a couple of examples. But when it comes to pensions, those who work for themselves are finding they’re at a disadvantage. Research1 has revealed that, although [...]
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Tone up your finances in 2020

January 21, 2020
As we face the year ahead with great anticipation, thoughts of resolutions, often centred around lifestyle improvements and healthy living, usually feature high on our to-do lists. It’s all too easy to overlook the resolution to take stock and refocus on your finances. A new [...]
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Financial resolutions for a prosperous New Year

January 21, 2020
The New Year period is a common time for people to take stock of their finances and make resolutions designed to boost their financial wellbeing. And a new study has found the likelihood of success in this area is heavily linked to receiving professional advice [...]
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Economic Review – November 2019

December 12, 2019
  GROWTH SLOWEST SINCE 2010 Although the UK economy did expand during the third quarter, thereby avoiding recession, growth was weaker than expected with the annual rate of expansion the slowest in almost a decade. Gross domestic product (GDP) data released by the Office for [...]
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Drawdown retirees unaware of income flexibility

December 12, 2019
A YouGov survey commissioned by Zurich1 has revealed that most retirees in drawdown are unaware they can vary their level of income. And, perhaps unsurprisingly, the research also found those not receiving financial advice were more likely to be in the dark. Importance of advice [...]
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JISAs gaining in popularity

December 12, 2019
As the emphasis on intergenerational wealth planning intensifies, the popularity of the Junior ISA shows no sign of subsiding. The JISA star continues to rise, with almost 15% more plans subscribed to in 2017/18 than the previous year. Some of this growth can be attributed [...]
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Accidental landlords could face a large tax bill

December 12, 2019
Earlier this year, the government announced plans to scrap two types of tax relief for landlords who sell a property that was once their home. Homeowners in these circumstances are often referred to as ‘accidental landlords’, as when they originally acquired the property it was [...]
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