Pension Justice’s Post

Should we be worried about the ability of future generations to retire? 7 in 8 of the UK working age population aren't putting away an appropriate amount into their pensions. By the time my students retire, it feels likely many will not have a pension that supports a dignified life. Link for my latest The i Paper column in the comments. #Journalism #Media #Newspaper #Columnist #Money #Business #PersonalFinance #Economics #Pension #Pensions #Retirement #Saving #Investment

A group of MPs has sounded the alarm, cautioning against potential risks to remaining traditional pension plans in the UK. With regulatory changes and shifting investment strategies, the future of defined-benefit schemes hangs in the balance. As the landscape evolves, it's crucial for pension holders to stay informed and proactive. Your retirement security could depend on it. Read full article here: https://on.ft.com/43vPgPp #kingsleywealthmanagement #financialplanning #investing #ethical #cashflow #pensions #mortgages #protection #livefortodayplanfortomorrow #pensions

The value of working with a professional employed to work in your best interests. Plans change because of forces beyond our control. Reacting to them and evolving new plans is part of the role. Some thoughts on how plans may change are nearly summarised below:

Pension scams are real… Scammers typically prey on consumers’ misunderstanding of how pensions work and pension pots grow. To help people avoid falling victim, the FCA has compiled a list of common scam techniques which include: • High-pressure sales tactics using ‘time-limited offers’; • Guaranteed higher returns; • Unusual unregulated investments; • Arrangements involving several parties; • Any offer to release pension funds for under-55s. If you are unsure about how your pensions work, get in touch with our team today - https://lnkd.in/dszfSYG *Content is for informational purposes only. A pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend on the size of the fund at retirement, future interest rates and tax legislation. #Pensions #PensionScam #PensionPots

A few thoughts on IHT and pensions post 2027: 🏠 Downsizing becomes even more financially sensible. Does this bust through the emotional turmoil of staying in your own home? ⬇ Value protection on annuities and fixed term annuities become less attractive. ⬆ Annuitisation, particularly with lengthy guarantee periods, look pretty attractive. 💷 Pensions will now largely be drawn on first. 💒 Getting married looks pretty sensible. 👨💼 Managing income to the higher rate income tax threshold looks even more important. 🏢 Lack of distinction between crystallised and uncystallised funds could see some big IHT bills for those dying close to finishing work. 🕳 Whole of life policies get a whole lot more attractive. Anything missing from this little list? Planning got a bit more complex didn't it? #pensions #budget24 #drawdown #IHT #financialadvice

Passion and Pensions. Don't usually go hand-in-hand. But for a couple of months in France last year. You could have been fooled. A pensions crisis is unfolding. Which reinforces so much of what is wrong in 2024. 1) These savings for your future are contributing to its demise. 2) Mandated levels of savings are leading to impoverished retirement. 3) There is little backstop for the margins of society. As Bill Moyers once wrote: "Creativity is piercing the mundane to find the marvellous". The opportunity for very meaningful change. Resides within that pension statement you're sent each year. But might not have taken much note of until now. #pensions #savings #investments

Scam warning flags hit highest level in nine months, XPS Group finds. Helen Cavanagh. The number of pension transfer cases to raise a scam warning flag reached the highest level in nine months in June, research from XPS Pensions Group has found. Check out Martin Richmond's latest article 👇 https://incm.pub/3Wt4GAy #pensions #pensionscheme #employeepension #finance #retirement

State pension moving to 71? Ouch 😣 The reality of this headline for anyone younger than 50 is that one day it will likely become a reality. Without the option of guaranteed government support and gold plated final salary pensions Millenials and the generations that come after need to take ownership of their financial futures. Is it fair? Not really. But it’s a stark reality. What can we do? Actually quite a lot. All it takes is a plan and some will power to stick to it. 📝 ✅ Learn how to budget and manage money ✅ Avoid expensive debt such as credit cards ✅ Save into tax efficient accounts like ISAs and Pensions ✅ Automate regular savings and start ASAP ✅ As you earn more, save more. ✅ Be 100% invested in global stocks for as long as possible (ideally forever!) Financial freedom and independence might look different in years to come, but it is not out of reach! 🙏🏼 🙌 #personalfinance #financialplanning #statepension #investing #millenials #pensions #norwichbusiness

Government figures reveal that savers have received refunds totaling nearly £1.2 billion due to overpaid tax since the implementation of pension freedom rules. An anomaly in tax regulations related to accessing retirement funds under these rules has led savers to potentially pay excessive amounts to HM Revenue and Customs (HMRC) during pension withdrawals. Discover how retirees can avoid unexpected bills and potentially reclaim money. Read full article here: https://bit.ly/3SkJw5R #kingsleywealthmanagement #financialplanning #investing #ethical #cashflow #pensions #mortgages #protection #livefortodayplanfortomorrow #pensions

Take a look at the article in today's The Times, co-written by our Director of Research and Innovation, Jo Phillips, with Simon French of Panmure Liberum, in his regular column. They explore how the success of auto-enrolment into pensions in the UK could be built on, to include self-employed people, to make sure people are saving enough for retirement (but not too much, in the case of those on low incomes who might benefit from that cash for emergency needs now), and to think holistically about short- and long-term savings. We're looking forward to working with the new government as they develop their thinking on pensions and financial inclusion. https://lnkd.in/esgQDzRY #pensions #financialinclusion #selfemployment #autoenrolment #emergencysavings