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The impact of Budget 2012 on your financial planning

Posted on May 10, 2012 by - Uncategorized

How  do the changes affect your pocket?

Change to retirement age
The Chancellor confirmed in Budget 2012 that he would increase the state pension age and that we should brace ourselves for having to work much longer in the future. There are already two increases to the state pension age scheduled for 2019 and 2026. If after 2026 the state pension age increases in line with our changing life expectancy, we could expect that someone who is currently 37 won’t be able to start drawing their state pension until they are 70 and someone who is
21 won’t receive it until they are 75.

Alternatives to help people improve income levels

Posted on May 10, 2012 by - Uncategorized

Valuable planning opportunities in a retirement market where the gilt yield has declined

In a low gilt yield environment, having flexibility within a pension arrangement can make a big difference. Options include either delaying taking pension benefits until the situation improves, or phasing money into drawdown, to benefit from any potential upturn.

Automatic pension enrolment

Posted on May 10, 2012 by - Uncategorized

Latest delay scarcely made the news

Reforms designed to get more people saving for retirement have been pushed back so many times that the latest delay scarcely made the news. It will now be October 2018 before minimum employer contributions to workplace pensions are fully phased in. Previously, this was supposed to happen by October 2017 – and before that by 2016, and before that by 2015.

Picking the right balance of assets for your portfolio

Posted on May 10, 2012 by - Uncategorized

Keeping track of lots of individual assets can be a daunting task

Picking the right balance of assets for your portfolio depends upon your own risk profile. One way to protect your portfolio is to spread your risk by diversifying across several different types of investment funds and classes of securities and localities in order to distribute and control risk.

What the Chancellor had to say

Posted on May 10, 2012 by - Uncategorized

Creating a stable economy, a fairer, more efficient and simpler tax system and further reforms to support growth

The Chancellor of the Exchequer, George Osborne, presented his third Budget speech to Parliament on 21 March 2012. It maintained the government’s strategy to reduce the deficit, contained far-reaching tax reforms and support for growth and reward for work. The Chancellor set out the actions the government will take in three areas – creating a stable economy, a fairer, more efficient and simpler tax system and further reforms to support growth.

Is it time to get more flexible with your money?

Posted on May 10, 2012 by - Uncategorized

Remove the cap on the retirement income you can take

Pension legislation is always on the move and keeping up to date with the latest changes could open up new opportunities for you in retirement. In April 2011, some of the most significant changes in pension legislation for five years were announced.

Eradicate any financial worries by protecting your income

Posted on May 10, 2012 by - Uncategorized

Choosing the right solutions that are most relevant to your current lifestyle is the key

Most of us don’t like to think about how we would manage if we were ill and unable to work. But it’s important to sit down and think about the future in this way, if only to give both you and your loved ones peace of mind.