Reconsidering your pension contributions

Increases to National Insurance Contributions (NICs) from next April have made employee pension contributions less attractive.  That headline is not one you might expect to see from a financial adviser, but there is some solid logic behind it. Consider Jane who works in Leeds, earns £40,000 a year and makes net contributions to her employer’s…

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Are your young adults missing out on their Child Trust Fund?

HMRC says many teenagers are missing out on Child Trust Fund cash. The first Child Trust Funds (CTFs) matured just over a year ago, at the start of September 2020. CTFs will continue to mature until January 2029 as their owners reach the magic age of 18. At present, about 55,000 CTFs mature every month.…

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The September Mini-Budget

Paying for social care reforms

Double-digit tax increases to fund the latest social care reforms will have a ripple effect on taxpayers. When the Chancellor announces tax rises that are measured in double-digit billions, normally you can assume he is presenting a Budget. That was not the case in September, when Rishi Sunak’s Mini Budget set out measures that will…

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Paying for England’s social care reforms

Paying for social care reforms

In September, the government revealed its long-awaited plans to reform England’s funding of social care, but many home care residents won’t reap the benefits. On becoming Prime Minister, Boris Johnson announced that he had “…a clear plan we have prepared” to deal with the funding of social care in England. The statement was met with…

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Widening gender pension gap with a Covid-19 twist

Pensions gender gap grows

New research has highlighted a growing retirement income gap between men and women, which has been exacerbated by the pandemic.  According to the Office for National Statistics (ONS) life expectancy calculator, at age 55:  Men have a life expectancy of 84 years, with a 1 in 4 chance of surviving to 92. Women have a…

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