5 things you need to consider before deciding to withdraw money from your pot
Following pension reforms from age 55 – rising to age 57 from 2028 unless your plan has a protected pension age, you can start using the money you’ve saved in your pension. But there’s a lot to think about when you withdraw money from a pension.
Bolster your retirement lifestyle as you approach your planned retirement date
Have you ever wondered what you need to consider as you approach retirement? Whatever your concept of what is a good pension pot, one certainty is that relying on the State Pension alone will not give you a good enough pension to live on comfortably through your retirement.
Impact on work, wealth and wellbeing putting further pressure on age group
The financial decisions made by individuals as they reach retirement could have significant consequences on their finances and standards of living. Midlifers (people aged 40 to 60) are facing a challenging backdrop, with rising inflation and increasing energy bills putting further pressure on an age group that is already juggling multiple headwinds.
30 million parents want to leave wealth in their Will
Research[1] has highlighted how millions of Britons say they want to plan to pass on wealth to their children and grandchildren in a Will – but fewer than half have written one. Failing to plan write a Will or complete estate planning could potentially lead to a significant Inheritance Tax (commonly called IHT for short) bill being levied on a person’s estate when they die.
Key financial changes that have affected millions of people from April
Most taxpayers started to see their tax bills increase from April 2022. As we move into the new 2022/23 tax year, now is the time to review your tax affairs to ensure that you have taken advantage of all reliefs available and have considered some planning opportunities to help reduce your tax liabilities.
