Newsletter October 2018
10 million savers use state pension forecast
More than 10 million savers have used the Government’s state pension forecast facility, following its launch in 2016.
“The transition to the new [state pension] system will take some years, and it’s important that older workers use the online service to make sure they know exactly what they are going to get.”
Talk to us at Herts & Essex Fiancial Services Limited now about your state pension. http://www.handefs.co.uk/our-services/pensions
Government backs industry-led pensions dashboard
The eagerly-anticipated online pensions dashboard has received the green light from the Government, but only if the pensions industry develops it.
Steve Webb, director of policy at Royal London, hailed the “huge breakthrough” that shows the Government's “renewed commitment” to the dashboard.
However, industry groups expressed disappointment that the Government will not be leading the project, with some concerned this could exclude state pension information.
Mike Cherry, chairman of the Federation of Small Businesses, said the self-employed community “will be feeling thoroughly let down” by the announcement.
“If we end up with an industry dashboard that doesn't include information about the state pension then you'll still have a proportion of the self-employed believing that their Government top-up will get them over the line.
“That's a really dangerous place to be.”
Speak to us about saving for your retirement. http://www.handefs.co.uk/our-services/pensions
Gifts left to charity rise 30% in 12 months
The monetary value of gifts being left to charities from people’s estates has increased 30% in the last year, according to research.
YouGov polled more than 30,000 adults on behalf of Co-op Legal Services and found that cancer charities attracted the most donations, with gifts being the biggest source of income for Cancer Research UK.
“Gifts in wills, whether financial or not, are the lifeblood of so many vital services that are provided by charities all over the UK.
“If everyone left just a small amount to good causes once they’ve taken care of loved ones, it could make an enormous difference for future generations.”
Get in touch with Herts & Essex Financial Planning Services Ltd to discuss planning your estate.http://www.handefs.co.uk/our-services/estate-planning
Most over-50s plan to carry on working
Almost two-thirds of employed over-50s plan to retire later than they expected to 10 years ago, a report from Aviva has claimed.
The study of more than 2,497 adults suggested 63% of people over the age of 50 are willing to push back their retirement date to work longer.
We can help plan your retirement savings http://www.handefs.co.uk/our-services/pensions
Source: PracticeWeb October 2018
Herts & Essex Financial Services Limited
Bancroft, Hitchin Tel: 01462 458863