Latest - RETIREMENT PLANNING

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  Two thirds of retirees risk running out of money

  21 April 2021

  Two thirds (66%) of people retiring in 2021 risk running out of money, a new report by Standard Life Aberdeen has revealed. The Class of 2021 report found that those retiring this year plan to spend on average £21,000 a year in retirement, almost £10,000 less than the average UK household income. However, looking...

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  Jobs in finance: How to become an expert in retirement advice?

  20 April 2021

  Later life planning offers a growing target market for advice businesses. But how can you position yourself to ensure you can offer that market the best retirement advice? John Somerville looks at how advisers and paraplanners can develop their skills and knowledge to help advance their career and secure the future of their business....

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  Vanguard launches UK advice business with 0.79% fee

  19 April 2021

  Vanguard has launched a UK advice business charging an all-in fee of 0.79%, targeting investors saving for retirement with pots of £50,000 and over .  The service will be available to savers with that sum on the invested on Vanguard UK Personal Investor platform, who will then have access to the new Vanguard Personal...

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  Property wealth invaluable for later life needs

  14 April 2021

  Property wealth will be invaluable in meeting people’s financial needs in later life, according to the findings from the Equity Release Council’s Spring 2021 market report. Despite the Covid-19 pandemic, the number of lifetime mortgages available to homeowners rose to a record 488 by the end of 2020. Meanwhile, the average product rate dropped...

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  Five top tips on making a later life plan

  13 April 2021

  Later life planning means more than saving for a pension. Financial advisers need to help clients review their circumstances and options, get appropriate cover and plan for the future. LIBF’s Nicola Barker offers her tips on how to approach a later life plan. Planning for the future, not the past I’ve just turned 50,...

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  Govt’s NPMA plans will ‘complicate things considerably’

  13 April 2021

  Retirement specialist Quilter has urged the government to rethink its plans to raise the minimum pension age to 57, amid concern the change will “complicate things considerably” for pension savers. The government announced in February that it would press ahead with proposals aimed at increasing the normal minimum pension age (NPMA) from 55 to...

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  Retired lose 1/6 of annual income to direct taxes

  13 April 2021

  Retired households lose one sixth of their income a year to direct taxes, new research from Key has revealed.  Income tax and council tax take 13.9% off the average retired household’s pre-tax income of £31,674, equating to around £4,078 a year. However, government data showed benefits contribute around two fifths – nearly £13,000 a...

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  Retiring investors have £32,870 income tax-free per year

  12 April 2021

  As the new tax year gets underway, investors entering into retirement can take home at least £32,870 in tax-free income per year, new analysis from Quilter has revealed. The wealth management firm provided a breakdown of the different investments retirees could utilise to maximise their tax-free income before allowances grow increasingly “less favourable” over time....

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