5 things to consider before accessing your pension early Although the furlough scheme was extended this month, redundancies were at a record level with 314,000 people […]
New figures from HMRC[1] show 347,000 people withdrew from their pensions throughout July, August and September 2020. This is a 6% increase on the same figures from last year, and a 2% rise compared to the previous three months, which is not the usual seasonal pattern.
Given the many recent redundancies announced, it is inevitable that as coronavirus continues, more redundancies are likely. Scammers often see turbulent times like these as an […]
The finances of many are being impacted by COVID-19, especially those who are unfortunately facing redundancy and are approaching retirement. The over 50s are far more likely to slip into long-term unemployment, with just one in three (35%) returning to work quickly, compared to two in three (63%) workers aged 25-34.
WEALTH at work provides ideas on how to manage your finances should you find yourself facing a reduced income through redundancy or a change in your salary.
Key financial considerations for those planning to retire or facing unplanned early retirement There is no doubt that COVID-19 has impacted the financial lives of many […]
The ban on contingent charging for defined benefit (DB) pension transfers, where financial advisers only get paid if a transfer goes ahead, takes effect from 1 October 2020.
The Government’s Coronavirus Job Retention Scheme comes to an end on 31 October 2020 in which a third of the UK workforce were furloughed. Given the […]
With many household incomes under pressure following the impact of coronavirus, it may be tempting for those aged over 55 to consider withdrawing from their pension […]
The impact COVID-19 has had on pension savings and the fact that many household incomes are under extreme pressure means individuals are now at greater risk of falling for a scam.