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Wealth Management News

News in 2016
30 Nov 2016 Experts advise which funds to capitalise on following Autumn Statement

Following the release of chancellor Phillip Hammond´s Autumn Statement, the Money Observer website recently spoke to a number of financial experts for their thoughts on the funds that investors and businesses should now invest in. As the article notes, the Statement included downb...

23 Nov 2016 Self-employed left behind in new pension reform

Workers in the gig economy could face a retirement with no pension unless the government adapts their flagship pension policy, the Guardian reports. Following recent changes to the pension system, the number of employees eligible to save for their pension has increased tenfold. However,...

02 Nov 2016 DWP advises pensioners to check their NI records

Pensioners are being advised to consult their National Insurance records after the Department for Work and Pensions (DWP) admitted that thousands of people in the UK are currently being underpaid the state pension, the Daily Mail reports. The confusion has arisen due to incorrect inform...

26 Oct 2016 Financial security means having £21,000 in the bank, study finds

A new survey has found that the average person in Britain would only consider themselves financially secure with £21,000 put aside in savings, the Belfast Telegraph reports. According to research conducted by Nationwide Savings, which spoke to 2,000 people with a savings account, the a...

20 Oct 2016 Annual UK pension deficit is ‘£11bn´ says report

New analysis of pensions savings in the UK, reported by the Financial Times, suggests that the amount of money savers are putting away is currently falling short of their needs by £11bn per year. According to the nationwide poll, conducted by YouGov and commissioned by consultancy Aon ...

12 Oct 2016 Watchdog for UK Budget warns of £5bn pensions gap

Recently published analysis from the Office for Budget Responsibility suggests that former chancellor of the exchequer George Osborne´s pension reforms have left a £5 billion deficit in public finances, the Financial Times reports. During his time as chancellor, Osborne introduce...

05 Oct 2016 UK long-term savings rates reach new lows

2016 has not been a good year for savings rates; and according to a recent article on the Moneyfacts website, last month they plummeted to the lowest point ever. The latest figures from the Moneyfacts UK Savings Trends Treasure Report reveal “a particularly significant downturn in the...

28 Sep 2016 Average UK pension contribution at just 4%

Figures from the Office for National Statistics have revealed that the average pension contribution in the UK is currently just 4% of yearly income, according to AOL Money. This is despite auto-enrolment pushing workplace pension membership to an all-time high. ‘Auto-enrolment...

21 Sep 2016 Thousands scammed out of their savings

Thousands of people in the UK are being scammed by fraudulent calls promising big returns from supposed investment opportunities, AOL Money reports. According to the article, the police are dealing with a growing number of calls - more than a dozen each week - from people who have been ...

14 Sep 2016 Altmann calls for BoE to asses the impact of its policies

The Bank of England is being put under increased pressure to launch a national inquiry into the effects that ultra-low interest rate will have on savers, The Telegraph reports, with pensions expert Ros Altmann CBE recently adding her weight to the issue. Following a host of cuts to the ...

07 Sep 2016 Study: Advised clients can´t top up pension savings

New research suggests that almost half of the clients seeking financial advice would find it difficult to put more money into their pension pot than they are currently, the Professional Adviser website reports. According to a report entitled ‘Pensions Through The Ages: Feeling The Squ...

31 Aug 2016 Saving for your retirement: pension or property?

With the Bank of England´s chief economist Andy Haldane recently telling The Sunday Times that property was a better retirement option than a pension, City Am deputy money editor Will Railton explored which option will really offer the best retirement income. In response to Haldan...

24 Aug 2016 Leading fund manager to reveal £1trillion pensions black hole

One of the most revered stock pickers in the country is about to issue a stark warning about the combined pension deficits threatening the UK stock market, This Is Money reports. Investment guru Neil Woodford is due to release the warning on his influential blog, making him the first le...

17 Aug 2016 Savers taking ‘too much´ from pension pots, warns ABI

The Association of British Insurers (ABI) has warned that some individuals over the age of 55 are withdrawing too much money from their pensions savings, BBC News reports. According to official data, more than a year after the new pension freedoms were introduced - allowing anyone over ...

10 Aug 2016 How the interest rate cut will affect savings and pensions

With the Bank of England having recently announced a cut in interest rates to 0.25%, an article on the BBC News discussed how these changes will affect the average family´s mortgage, savings and pensions. Mortgages Data from the Office for National Statistics (ONS) suggest...

03 Aug 2016 Women still aren´t closing the pensions savings gap

New research has highlighted that the gender savings gap is an ongoing problem for UK pensions, with women failing to save enough money for their desired retirement, the Money Facts website reports. According to recently released figures from Aegon UK, just 10% of women are on course fo...

27 Jul 2016 More than six million signed up to auto-enrolment

Over six million UK workers have been signed up to automatic workplace pension schemes, the BBC News website reports. However, there are still concerns about just how much money is being saved. As the publication notes, the most recent stage of the government´s auto-enrolment init...

20 Jul 2016 Can you Brexit-proof your pensions savings?

It remains unclear exactly how the Brexit vote will affect the long-term finances of the UK, but a recent article by The Telegraph offered a brief guide to how savers can protect themselves from the impact of the vote to leave the EU. As the article notes, it´s too soon to say tha...

13 Jul 2016 Global pension schemes prepare for Bexit fallout

Pension schemes from all over the world are bracing themselves and their clients following the UK´s vote to leave the European Union, with some predicting cuts to member benefits, the Financial Times reports. Funds from as far away as Australia have been forced into issuing emerge...

06 Jul 2016 Pension rule change could benefit 11 million people - if they knew about it

New research has found that up to 11.4 million people in the UK would be able to boost their pension savings if they knew more about a rule change that came into force last year, City AM reports. Insurance and pensions management company Aegon recently conducted a survey of 4,000 people...

29 Jun 2016 Brexit sees UK´s pension funding hole hit record high

Britain´s decision to leave the European Union has resulted in the UK´s pension funding hole hitting a record high of £900bn, raising concerns about the future of some retirement schemes, the Financial Times reports. In the hours following the result, the deficit of defined...

22 Jun 2016 Companies spending more on pensions for older workers than younger staff

A major analysis of UK businesses has revealed that there is a clear pension divide between generations of workers, with British companies spending 20 times more on pension contributions for older staff than their younger counterparts, the Telegraph reports. The Inter-generational Found...

15 Jun 2016 Cash has beaten shares for the past 21 years, study finds

A new study has concluded that money held in best buy savings accounts has done better than the stock market since 1995, the BBC News website reports. The research was conducted by Paul Lewis, author of the study and presenter of BBC Radio 4´s Money Box programme. Lewis compared r...

08 Jun 2016 Investors can now hold gold bullion in their pensions

The Royal Mint will start giving savers the opportunity to keep gold bars within its vaults as part of their pension pots, BBC News reports. As the article notes, physical gold has legally been able to be included in Self-Invested Personal Pensions (SIPPs) since 2014, but it must be of ...

02 Jun 2016 UK pension pots reaching record high

New research has suggested that the value of the average defined contribution (DC) pension pot stands almost equal to the all-time high recorded in the first quarter of 2015, the Money Facts website reports. According to studies conducted by Close Brothers Asset Management, a typical DC...

26 May 2016 Exit charges should be capped at 1%, says pensions regulator

The Financial Conduct Authority (FCA) has announced that it plans to cap exit charges for savers withdrawing money from their pension pots at 1%, BBC News reports. It was found that some 670,000 savers had faced charges of as much as 10% when attempting to access their money. Recognisin...

18 May 2016 Brexit would leave expat pensioners thousands of pounds worse off

British citizens who choose to retire in Europe could see their state pensions be reduced by £50,000 over the next two decades if next month´s referendum results in the UK leaving Europe, the Telegraph reports. Current rules means that anyone retiring within the EEA - including E...

12 May 2016 People´s pensions “at risk” under new laws

A leading pensions expert has warned chancellor George Osborne that gaps in the current UK pension laws “could put the retirement savings of many thousands of people at risk,” BBC News reports. Using the recent collapse of high street retailer BHS as a case study, whose pensions sch...

27 Apr 2016 One in seven 2016 retirees have no personal savings

A new survey has revealed that a worrying one in seven people due to retire this year have no personal savings pot, and will be relying either heavily or totally on their state pension payments, AOL Money reports. According to the study by Prudential, women retiring this year are three ...

20 Apr 2016 Keeping scammers away from your pension pot

New research from Citizens Advice, City AM reports, shows that the large majority (88%) of people in the UK are unaware of the most common tricks pulled by pensions fraudsters. As Gillian Guy - chief executive of Citizens Advice - explains, as pensions scams evolve and technology improv...

13 Apr 2016 Are premium bonds still a good investment choice?

With National Savings & Investments recently announcing significant changes to Premium Bonds, AOL Money asks whether they are still a worthwhile investment choice. The changes were introduced in response to a new target from the government regarding the amount of money National Savings ...

06 Apr 2016 FCA to review pension rule changes amid cut in state advice funding

The Financial Conduct Authority (FCA) has announced that a review of retirement rule changes will be held later in 2016, to assess the risks faced by UK pensioners. At the same time, funding for state-provided pensions advice has been cut by almost half. The FCA has said it will focus o...

30 Mar 2016 How the new state pension will affect you

The UK state pension is set to undergo a major boost next month, with those due to retire after 6 April 2016 anticipating a £39.70 increase in weekly pension payments. But not everybody is going to benefit from these changes, and The Telegraph recently reported on how the new state pension wil...

23 Mar 2016 Let workers access pension cash to fund financial advice, says watchdog

A leading financial watchdog has recommended that workers be able to access their pension funds early in order to pay for much-needed financial advice ahead of their retirement, This is Money reports. According to a newly published report from the Financial Conduct Authority, entitled t...

16 Mar 2016 MPs advise women should receive state pension early

A committee of MPs has recommended that the government consider allowing some women to access their state pensions early and receive lower weekly payments, BBC News reports. The proposal being put forward by the Work and Pensions Select Committee would affect thousands of women who say ...

09 Mar 2016 Pensions and investment predictions ahead of Budget 2016

Ahead of chancellor George Osborne´s Budget 2016, which is due to be announced on 16 March, The Telegraph made some predictions about the changes we can expect to see in regards to pensions and investments. Following the sweeping pensions reforms introduced last year, this year wa...

02 Mar 2016 Government pension review could push back retirement age into 70s

An official government review of the state pension age could mean that people of working age have to wait until their 70s to retire, The Guardian reports. The review will take into account the state retirement age from April 2028, at which point both men and women will be able to retire...

24 Feb 2016 One in four Brits approaching retirement can´t afford to stop working

A new survey has found that over half of UK workers approaching retirement are considering staying in work, while a quarter have already made the decision that they cannot yet afford to retire, This Is Money reports. According to the Class of 2016 report by Prudential, nearly a third of...

17 Feb 2016 One in five people will retire in debt

New research has revealed that one in five people due to retire this year will do so in debt, AOL Money reports. According to recently released figures from Prudential´s Class of 2016, some 20% of retirees will owe money when they give up work. This means that one in five retirees...

10 Feb 2016 Millions of retirees this year could receive the wrong state pension

Some four million people due to retire after April this year could receive the wrong amount of state pension due to the system´s data being “riddled” with mistakes, The Telegraph has reported. Sources to the newspaper have explained that the data being used to calculate people...

03 Feb 2016 One in four wealthy investors shunning private pensions

New research has revealed that almost one in four wealthy investors are eschewing private pensions in favour of the flexibility of stocks and shares ISAs, the Money Facts website reports. According to a report from The Share Centre, 24% of wealthy investors in the UK - those with a mini...

27 Jan 2016 MPs raise concerns over how smaller firms will cope with pension auto-enrolment

Concerns have been raised by an MP committee over the potential burden small firms could face by placing staff in workplace pensions, AOL Money reports. The scheme was introduced in 2012 amid fears of an impending old age savings crisis. Since it began, 5.4 million have been automatical...

20 Jan 2016 Osborne preparing to launch raid on retirement savings

Chancellor George Osborne is planning another shake-up to the pensions system ahead of this year´s March budget; but this time in relation to how pensions are taxed, City AM reports. In what´s expected to be the biggest transformation of the way pensions are taxed in a gener...

13 Jan 2016 NEST bracing itself for wave of workplace pensions

The National Employment Savings Trust (NEST) is said to be ready and prepared for an expected deluge of new pension savers as small businesses throughout the UK are signed up to provide workplace pensions, the Financial Times reports. Speaking to the publication, NEST chief executive He...

06 Jan 2016 Petition for women affected by pension age rise gathering pace

A petition calling to compensate older women who have been told they´ll have to work for longer than expected in order to quality for their state pension has gathered more than 100,000 signatures on the government website, The Guardian reports. According to the publication, state ...

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