The government has confirmed that the minimum age for drawing a personal pension is to rise to 57 in 2028. Savers who pay into a personal pension either directly or through their workplace can currently access their money at 55. However, the government plans to raise the age as a result of increased life expectancy. […]
Research shows that we put ambitious targets on our retirement income and then underestimate how much we need to save to get there. Before we delve into how much you should be saving, here’s a quick overview of the two main types of pension schemes: In a defined benefit scheme your employer promises to deliver […]
Introduction September was a difficult month for world stock markets. It was one of those rare months when none of the markets we report on managed to gain any ground as fears of a second wave of the Covid-19 pandemic sparked a global sell-off in shares. It was also another month of bickering as tensions […]
While the economic consequences of lockdown saw many households struggle, others have been able to save far more than usual. Data suggests that UK households could have been saving an average of around £171 per week during lockdown, with pubs, restaurants and high street shops closed. Country wide, savers have stashed away a record £157bn […]
On 8 July, Chancellor Rishi Sunak announced a cut to stamp duty that could save holiday home buyers up to £15,000 if they complete the purchase before 31 March 2021. The government raised the threshold on stamp duty to £500,000, in a move to restart the stagnant housing market. Second home buyers will still have […]
Overall Market Backdrop, August The majority of Global Equities saw modest returns while the S&P 500 returned 5%, hitting an all-time high of 3,510. US Treasury yields saw a drastic increase fuelled by the fed’s announcement of a major policy shift. The 10-Year US treasury Yield started at 0.53% at the start of the month […]
There wasn’t just one lockdown – each person had their own unique experience over the three and a half months that were unlike any before. Some were involuntarily forced into months of solitude, while others were holed up in close contact with family members. For some it was a chance to slow down while for […]
Introduction August used to be known as the ‘silly season’ – a phrase coined by the Times in 1861 to describe the lack of news in August and early September when parliament was in recess. Well, there was plenty of news in August 2020. With coronavirus and its effects, the continuing squabbles over Brexit, the […]
Introduction If there was one word that characterised July, it was tension. Tension between Beijing and Hong Kong, tension between China and the US, and tension between China and the UK over Huawei. The UK made a citizenship offer to up to 3m Hong Kong residents and duly suspended its extradition treaty with Hong Kong. […]
With many furloughs coming to an end and an increasing number of redundancies being announced, the Bank of Mum and Dad is being asked to step in on a regular basis to help its adult children with their financial commitments. Parents are seeing their children’s debt escalate, which is often primarily due to rent payments. […]