As the days are staying lighter for longer and the weather begins to warm up, we are also experiencing some major changes on the financial landscape post-Budget 2015: the start of a new financial year, ‘pensions freedom day’ and a General Election. The enclosed publication was produced prior to the General Election outcome, so we’ll look at how the results could impact on your financial plans in the next issue.
Most people now have more options when it comes to their retirement choices. But generally they’ll still want their pension income to last their lifetime – so careful planning is a must. Since 6 April, when Britain’s pension system underwent a seismic change (known as ‘pensions freedom day’), we’ve been asked many different questions by our clients about the breadth of the reforms and how they may affect them. On page 04, we provide answers to our top ten most frequently asked questions.
In his final Budget speech to parliament on 18 March, the Chancellor of the Exchequer, George Osborne, announced that Britain was ‘walking tall again’ after five years of austerity. We’ve provided our summary of the ten key announcements that could impact on your personal financial plans, both positively and negatively. Turn to page 10 to find out more.
Now that we’ve entered a new tax year, if you are already planning how you are going to fully utilise your current Individual Savings Account (ISA) tax-efficient allowance, it’s not just about picking investments wisely – it’s also important to make sure you hold them in the most suitable place. On page 06, we look at the top ten highest performing sectors over the previous decade.
In a survey by the National Association of Pension Funds (NAPF) of people aged 55-70 with private pensions, 47% who had a private pension were worried people would be mis-sold unsuitable products due to the new pension rules, 44% felt people might make bad financial decisions and two thirds (36%) were worried about pension scams. Read the full article on page 07.
We hope you enjoy reading this issue and find it informative. To discuss any of the articles featured, please contact us on 0141 2484982 or firstname.lastname@example.org