Taking control of your pension income means considering the tax consequences
Pension drawdown enables you to take money from a defined contribution pension while keeping the rest invested. Rather than receiving a fixed income, you decide how much to withdraw and when, giving you flexibility to adjust your income as your circumstances change.
Gifting your home could help your grandchildren, but may carry tax and financial risks
For grandparents with substantial property wealth, gifting their home may seem an attractive way to give younger family members a helping hand. It could provide grandchildren with a valuable asset or help them secure a home at a time when getting onto the property ladder can be difficult.
Building financial security for later life
Retirement no longer has to mean simply buying an annuity and receiving a fixed income for life. Since pension freedoms were introduced, people have had greater control over how and when they access their pension savings.
Achieving an early, comfortable retirement requires careful planning
For many people, retiring at 50 sounds like the ultimate financial goal. Instead of waiting until their 60s, they could have decades to travel, pursue hobbies or simply enjoy a slower pace of life. The catch is that your money may need to support you for several decades, making careful planning particularly important.
Half of people are unaware that pension contributions can reduce adjusted net income
Pensions are designed to help fund retirement, but they can also play a valuable role in wider financial planning. This could be particularly important for parents balancing the high cost of childcare, with holiday clubs alone costing families an average of £179 per week.
A long-awaited way to view your pension savings in one place is finally taking shape
For years, savers have been promised a simpler way to track their pension savings. The concept is straightforward: instead of searching through old paperwork, logging in to multiple providers or trying to remember where a former employer’s pension scheme is held, you could eventually see your pension information securely in one place.
A little-known National Insurance credit could reward you and give you a financial boost
Providing regular childcare for grandchildren could do more than help your family. It could also help protect your State Pension entitlement through National Insurance credits. Grandparents who spend their time caring for grandchildren may be able to claim Specified Adult Childcare credits.
More than one in five adults report a decline in pension confidence
The upcoming changes to how pensions are treated for Inheritance Tax (IHT) from 6 April 2027 appear to be having a wider impact on pension confidence, despite most adults being unaffected. New research finds that 49% of adults say their confidence is unchanged, while 22% say it has fallen since the rules were announced in the 2024 Autumn Budget[1].
From childcare and essentials to education and everyday expenses
Raising a child is a major financial commitment, with costs beginning long before school age. The latest figures from the Child Poverty Action Group (CPAG) estimate the cost of raising a child from birth to 18 at £250,000 for a couple and £290,000 for a lone parent[1].
54% of over-55s have no record of gifts given in the previous seven years
Giving money or valuable possessions to loved ones can be a generous way to provide support, but failing to keep track of those gifts could leave families facing an Inheritance Tax (IHT) headache later. New research shows that 54% of over-55s who have given a financial gift in the past seven years have kept no record of it[1].