From 2028, you won’t be able to access your Personal Pension until the age of 57. The government’s decision could affect your retirement plans and it’s important to review what it means for your future.

The government previously stated it intended to increase the age people could access their Personal Pensions, currently set at 55. However, it didn’t put legislation in place, leading to speculation that the change wouldn’t go ahead. The government has now confirmed that it will legislate for the rise ‘in due course’. So, if you turn 55 in...

Back in July, Chancellor Rishi Sunak announced a second range of measures designed to protect the economy through the Covid-19 pandemic.

His next update was scheduled to be the Autumn Statement in the coming weeks. However, given the newly imposed Covid-19 restrictions and economic uncertainty, the Budget has been cancelled.

In a statement sent to the BBC, a spokesperson for the Treasury said: “As we heard this week, now is not the right time to outline long-term plans – people want to see us focused on the here and now.

“So, we are con...

Just a few months after delivering his first Budget as Chancellor, Rishi Sunak delivered a Summer Statement, dubbed a ‘mini-Budget’ on Wednesday 8^th July 2020.

Back in March, some of the measures announced in the Budget focused on supporting people and businesses as the Covid-19 pandemic was taking hold. Five months later, the focus has now shifted to recovery as lockdown and social distancing restrictions ease.

Rishi began by saying the government had taken decisive action to protect the economy earlier this year but acknowledged people...

When investing, we all know that capital is at risk. We’ve often talked about understanding your risk profile and the level of risk you should take when investing. But what affects how risky an investment is?

Understanding the risk of an investment can help you gauge if it’s the right investment for you and how it’ll change the balance of your portfolio. Numerous factors affect how risky an investment is, fund managers will use multiple ways to analyse each investment. However, one of the simplest places to start is by looking at the asse...

Building a nest egg for a child can help set them on the path to a financially secure future and highlight why saving is important. One of the most popular ways to save for a child or grandchild is using a Junior Individual Savings Account (JISA). During 2017/18, money was added to over 900,000 JISAs.

Money held in a JISA isn’t accessible until the child turns 18, making it an excellent way to save for the milestones they’ll reach in early adulthood. You may choose to save with the hope that it will be used to fund further education, lear...

When you think about your lifestyle goals and financial plan, how far ahead do you look? It wasn’t so long ago that planning to reach 80 meant you could be sure of financial security throughout your life. But now, it’s becoming increasingly common to celebrate your 100^th birthday, bringing new challenges to planning.

Just a century ago, 1% of babies born were expected to live to 100. As healthcare and a range of other factors improved, life expectancy has increased too. If you’re a female aged 60, there’s a 12.3% chance of turning 100, fo...

With interest rates at an all-time low and the economy facing uncertainty, you may have read headlines about whether negative interest rates are the next step. But what would that mean in practice and is it an option that would really be considered in the UK?

Ever since the 2008 financial crisis, interest rates have been low. Earlier this year, there were suggestions that the Bank of England would gradually start to increase its Base rate as the economy continued to recover. However, the Covid-19 pandemic has changed that. In March, the c...

When you retire, there are a lot of financial decisions that need to be made as you start accessing the savings and investments you’ve built up. It’s natural to have lots of questions about your financial security at this point, such as:

• How much income will I receive from my pension?
• How long will my savings last for?
• How should I access my pension?

But one important question is often overlooked: How much tax will I pay? 

How and when you access your pension, savings and investments can have an impact on your tax liability. Plann...

The Individual Savings Account (ISA) was introduced over 20 years ago and since then it’s become an essential part of many financial plans. Since the first ISA, this savings vehicle has evolved and there are four different types of ISA accounts available to open. Which one is right for you will depend on your goals.

What is an ISA?

An ISA is essentially a tax wrapper that allows you to save and invest tax-efficiently. Each tax year, you can place up to £20,000 into ISAs. This annual allowance may be used on a single ISA or spread across...