First-time UK parents spend more than £492 million[1] each year preparing for the arrival of their first baby, according to research from Aviva. This equates to £1,619 per family and shows a 17% increase to the £1,389 total in March 2012[1].
We’re becoming increasingly good when it comes to cost cutting, according to the latest findings of an annual online survey from long-term savings and investment specialist Standard Life by YouGov PLC.
Taking on the risk of managing your own pension
New research[1] from MGM Advantage shows the risk people are willing to take managing their own pension savings. 28% of the over-55s said they were not comfortable taking on the risk of managing their own pensions to provide a suitable income throughout retirement.
A huge reform of the defined contribution pension system (as opposed to workplace final salary schemes) announced in Budget 2014 means that under the proposals, from next year, millions of people reaching retirement age will be able to spend their pension pot in any way they want.
More than half of over-55s currently in the workforce are happy to work past the default retirement age of 65, according to new research[1] from MetLife.
Fundamental plans to redesign the UK defined contribution pension system (as opposed to workplace final salary schemes) were announced as part of the Budget 2014 speech. This is the most far-reaching reform to the taxation of pensions since the regime was introduced in 1921, introducing new flexibility to the pensions system.
Call us now on
0330 330 0013
