Newsletter May 2019
Oblivious workers over 65 ‘are being taxed on their state pension’
Up to half a million workers could be paying unnecessary tax on their state pension, Royal London has claimed.
Around 1.1 million over-65s were in employment in 2017, with roughly 950,000 of those receiving a wage alongside drawing their state pension.
Contact us at Herts & Essex Financial Services about your state pension. http://www.handefs.co.uk/our-services/pensions
Under-35s call for advice to prepare for life’s milestones
Almost one in four people under the age of 35 would like independent financial advice to help them prepare for life’s major events, research from Scottish Widows has found.
Opinium surveyed 2,006 adults for the study and found that 24% of 18 to 34-year-olds would like financial advice to help them plan for events like marriage, divorce and having a family.
Talk to us about financial planning.
Retirees’ income levels off over the last eight years
Pensioners earned little more in 2017/18 than they did eight years ago, according to the Department for Work and Pensions (DWP).
In 2017/18, retirees received an average retirement income after housing costs of £304 a week, which was only £3 a week less than the average weekly payout of £307 in 2009/10.
Get in touch to discuss retirement saving.
Green light given to pensions dashboards
The Department for Work and Pensions has announced new proposals to support the development of pensions dashboards, with initial industry models expected in 2019.
Pensions dashboards were first proposed in 2016 and are intended to help savers with retirement planning by allowing them to see all their pension plans in one place, much like an online bank account.
Speak to us at Herts & Essex Financial Services about your pension options. http://www.handefs.co.uk/our-services/pensions
source: PracticeWeb May 2019
Herts & Essex Financial Services Ltd
Bancroft, Hitchin Tel: 01462 458863