Here we explain what retirement could look like at three different levels – Minimum, Moderate and Comfortable and what goods and services would cost for each level.
The expected level of income needed in retirement has risen sharply with new research revealing increases for all retirement lifestyles. But how much will you need to save for retirement?
For employees, financial wellbeing is becoming more important than ever and having a workforce that is engaged, informed, supported and efficient will improve productivity and build trust.
2023 was the year that interest rates had a resurgence, and for the first time since 2008, the rate rose above 5%. Here we look back on the past year, and how it demonstrates the importance of context and spending ‘time in the market’ is when making financial decisions...
Whilst many professionals such as lawyers and accountants have excellent financial knowledge and experience, many can be guilty of neglecting their own personal finances due to lack of time.
If your pension savings are less than £1,073,000, and you wish to take a lump sum, then you will still get 25% of the pot tax-free, up to a maximum of £268,250. However, if you have more than £1,073,000 in your pension, the tax-free element will be less than 25%.
With the tax year-end now in sight, it’s important to review your allowances – a number of key allowances and thresholds are currently frozen until at least 5th April 2028 – and whether you will have made full use of them by the end of the tax year.
After another year of changing rules and regulations - the removal of the lifetime allowance and the increase to the annual allowance alongside the implementation of the McCloud remedy - the pension landscape for NHS members has never been more complex. But how do these changes impact your NHS pension?
You may be questioning the value of your investments, particularly given interest rates on cash deposits are the highest they have been in well over a decade. Having experienced lower than average returns over recent years, you may be tempted to ask, ‘why bother?’