01462458863 enquiries@handefs.co.uk

Newsletter August 2018

Cashing-in pension pot could cost savers

Savers could be losing out on retirement income by withdrawing cash from their pension pots, a regulator has warned.

A report by the Financial Conduct Authority (FCA) found that some customers in drawdown could receive 37% more retirement income every year by investing in a mix of assets rather than cash.

Since the introduction of pension freedoms in April 2015, savers have been able to withdraw their pension in cash from the age of 55.

Speak to Herts & Essex Financial Services about your retirement planning.http://www.handefs.co.uk/our-services/pensions

One in four people braced to work into their 70s

More than one in four people expect to be in either full-time or part-time employment at the age of 70, according to research.

Aegon polled 700 adults and found that 27% are braced to be in some form of employment when they are septuagenarians.

Get in touch to plan your retirement.

Let tax-free childcare reduce summer stress

Parents whose stress levels are rising as the school holidays get under way can use tax-free childcare to send their children to regulated holiday clubs.

The HMRC reminder comes hot on the heels of a YouGov study, which found 31% of parents feel stressed trying to arrange childcare during the school break.

A similar number (30%) worried about balancing their job with childcare, while 54% admitted they look forward to the day their child goes back to school in September.

Talk to us about tax-free childcare. http://www.handefs.co.uk/our-services/taxation

Self-employed should have ‘sidecar pension’

The self-employed should have a “sidecar pension” instead of an extension to auto-enrolment, according to the Association of Independent Professionals and the Self-Employed (IPSE).

IPSE said a new retirement saving scheme should be created to allow a sole trader to save into a fund that doubles up as a pension pot and a rainy-day fund.   

 Contact us at Herts & Essex Financial Services to discuss your savings. http://www.handefs.co.uk/our-services/life-assurance

Source: PracticeWeb September 2018 

Joan Joe
Herts & Essex Financial Services

Bancroft, Hitchin Tel: 01462 458863 http://www.handefs.co.uk