As part of the government’s plans to help individuals save more for retirement, minimum automatic enrolment contribution rates are due to rise from 5% to 8% in April. But is this enough to secure an adequate retirement income and what more can be done to help employees?
Christmas is an expensive time of year as the cost of presents, decorations, meals out and entertaining all add up. Individuals intend to spend £567 each at Christmas, with 46% planning to pay for it using credit cards, store cards and overdrafts.
The New Year is a great opportunity to take a good look at your finances and make financial plans for the coming year.
Individuals could end up paying 200 times more tax depending on the way they decide to access their retirement income, according to research by the Pension Policy Institute (PPI).
The Chancellor of the Exchequer, Philip Hammond, has today delivered this year’s Budget Report.
Nearly 2000% more than ten years ago when the allowance was introduced.
In this current low interest rate environment it’s important to shop around for a saving account as the rates can vary. Before doing this it’s important to think about what you are actually saving for, as there are a variety of saving vehicles available to meet different objectives.
According to research by WEALTH at work, 80% of employers believe their employees are not saving enough for retirement.
With the new term approaching, WEALTH at work shares its top 10 tips for students who are looking to cut their costs and boost their savings.
The tax collected from individuals breaching the Lifetime Allowance (the amount of savings which can be built up in a pension and receive tax relief) has rocketed by £100m since it was introduced in 2006.