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Newsletter November 2018

Auto-enrolment contributions fall 5.5% in five years

The average amount saved by employees in workplace pensions slumped 5.5% in the five years following the introduction of auto-enrolment.

Figures from the Office for National Statistics (ONS) show the typical employee/employer contribution fell from a high of 9.7% in 2012 to just 3.4% in 2017.

We at Herts & Essex Financial Services Limited can help plan your retirement. http://www.handefs.co.uk/our-services/pensions


Long-term investors reap the rewards from financial crisis

Investors who kept a cool head through the financial crisis in 2008 would be sitting on returns of 89% a decade on, according to Aegon.

Analysis from the savings provider claims £100,000* invested in a mixed investment fund of equities, gilts, cash and bonds prior to the global recession would be worth £189,000 in 2018.

Talk to us at Herts & Essex Financial Services for investment advice. http://www.handefs.co.uk/our-services/investments-and-nisas


Women ‘missing out on pension income in divorce’

Many women going through a divorce are missing out on money and other assets in retirement due to their husbands’ private pensions not forming part of the divorce process.

Research from Age UK claimed that while married couples typically split the value of any home they own, equal division of pension assets has been consistently left out of divorce settlements.

Speak to us about your savings.


Budget 2018 round-up: Personal allowance to rise

In his Budget speech on 29 October 2018, Chancellor Philip Hammond announced the personal allowance and higher-rate threshold will both rise in 2019.

Despite speculation before the Budget that the personal allowance might be frozen, it will instead increaseon 6 April 2019, from £11,850 to £12,500.

The higher-rate threshold will rise at the same time, from £46,350 to £50,000.

These changes mean a Conservative manifesto pledge will be met a year earlier than expected.

Contact us at Herts & Essex Financial Services to discuss how these measures affect you.

Source: PracticeWeb November 2018 

Joan Joe
Herts & Essex Financial Services Limited

Bancroft, Hitchin Tel: 01462 458863