Complex landscape of employee preferences, confidence and skills
Recent developments have seen the government introduce a Lifetime Provider model for workplace pensions, a move that has sparked considerable interest and debate. Findings from a recent survey reveal a striking preference among employees for their employers to take the lead in selecting their workplace pension provider.
Many regret not having commenced their savings journey earlier in their careers
UK retirees are encountering significantly smaller pension pots than they had anticipated, with a considerable number expressing regret over not having commenced their savings journey earlier in their careers.
Diverse avenues through which individuals plan to supplement their retirement income
Recent research reveals that a significant proportion of individuals over 50 years old anticipate relying on secure income sources, such as Defined Benefit (DB) pensions, for their retirement funding[1].
£50 billion of hard-earned pension funds could be in jeopardy
Recent investigations by the Centre for Economics and Business Research have illuminated a daunting predicament facing the United Kingdom’s pension sector[1]. An alarming £50 billion of hard-earned pension funds could be in jeopardy, lost within neglected accounts or dispersed amongst a myriad of forgotten pots.
Some people may believe estate planning is just for the wealthy. However, effective estate planning is essential to managing your assets and final wishes while trying to ensure your family’s financial stability once you have passed on.
First step towards safeguarding your legacy and providing for your loved ones
Estate planning is crucial as it empowers you to retain control over your assets, express your desires clearly and alleviate the burden on your loved ones during challenging times. Understanding the importance and benefits of estate planning is the first step towards safeguarding your legacy and providing for your loved ones.
Carefully tailor your goals and personal circumstances
Estate planning is far from straightforward. It encompasses myriad considerations, and adopting a one-size-fits-all mentality is not advisable. Each individual’s plan should be carefully tailored to their goals and personal circumstances.
Deciding on the distribution of your possessions posthumously
Making an inventory of your assets and debts is a fundamental step in estate planning. By creating a comprehensive list of everything you own and owe, you gain clarity on your estate’s contents. This knowledge is essential before deciding on the distribution of your possessions posthumously.
Getting your affairs in order for when you pass away can bring significant peace of mind as you age. Failing to protect family wealth from Inheritance Tax as part of an estate plan could cost families considerably, but there are various strategies and solutions to avoid or mitigate this tax legally.
Multifaceted endeavour that extends beyond mere financial transactions
Judicious planning can considerably lessen the Inheritance Tax burden on an estate. Throughout our lifetimes, we amass wealth and assets yet often neglect to ensure their passage to subsequent generations – our offspring, grandchildren and extended family members. The essence of estate preservation lies in facilitating the smooth transition of wealth from one generation to the next.
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