A flurry of activity in the DB pension transfer market has seen record high transfer values. Advisors and investors alike are watching carefully to see if this is a sign of things to come, or if recent concerns over red flags in the market will have an impact on transfers. Defined benefit pension transfer values reached a new high, but they’re still shorter than what was seen last year.
As investment advisors, it is important for us to stay up-to-date on the latest regulatory changes affecting the industry. One area that has been evolving rapidly in recent years is sustainable investing. New regulatory frameworks have been put in place to promote more responsible and ethical investing practices.
When it comes to saving for retirement, Brits aged 35-54 are caught between a rock and hard place. They’re too young to have benefitted from defined benefit pensions, but may be enrolled into auto-enrolment, which usually happens mid-career.
This has led them into what’s called “the squeezed generation” when it comes to how much they have managed to put aside for when they retire.
With nearly half of UK workers unaware that their occupational pension will provide them with an income in retirement, now is the time for everyone to plan better.
When it comes to planning for retirement, there are a few key things you need to keep in mind. First, you need to make sure you have enough money saved up to cover your costs. This includes everything from your mortgage or rent payments to your food and utility bills. Next, you need to think about how much income you will need to cover your retirement expenses. This will vary depending on your lifestyle and where you plan to retire.
Hearing about the Spring Budget or Statement? You’re not alone. The finance sector is always on edge when it comes time for these statements, as people know that there will be some sort of new tax law soon which may have positive or negative consequences. This year might seem like an exception though – with little information released so far by HM Treasury and none since Rishi Sunak spoke at length before his Autumn 2021 Budget Address last month! With the cost of living going up and little sign that things will improve anytime soon, many people are wondering what measures might be taken by Chancellor George Osborne to help ease their pain.
Whether you are contributing to a pension or savings plan, have investible assets or are looking to invest for the first time, understanding how markets work and change is imperative.
