Welcome to our latest issue. Inside, we look at a number of different topics to help you accomplish what matters most to you and your family as the festive period approaches.
In these uncertain times, it can help to focus on the things you can control. And working out what your money’s doing for you now and where it might come from in the future can give you real peace of mind. On page 6, as another year rapidly draws to a close, many of us may already be starting to think about what resolutions we can make to improve our financial health in 2021. And even though we may resolve to improve our finances, it’s knowing where to begin that’s key.
For the first time in over a decade, the point at which people can claim a State Pension (the ‘State Pension Age’) is simple. If you have reached your 66th birthday, you can claim it. Otherwise you cannot. Men and women born between 6 October 1954 and 5 April 1960 start receiving their pension on their 66th birthday. For those born after that, there will be a phased increase in State Pension age to age 67 in 2028, and eventually age 68 from 2037. Turn to page 03 to find out more.
There is no easy way to say it – anticipating one’s death is an uncomfortable topic. Yet it is often worth pushing past the initial discomfort to pursue the potential rewards of effective wealth transfer planning. On page 4 we consider the three places your assets can go at your death: to your family and friends, to charity or to the government in the form of taxes.
At the time of publishing this issue the Coronavirus Job Retention Scheme was due to end on October 31, but has been extended for a month throughout November as Prime Minister Boris Johnson announced England is moving into a second lockdown period. In order to reflect the extension of the furlough scheme for employed workers, Mr Johnson also announced self-employed workers will be able to claim government support worth 80% of trading profits for November.
A full list of the articles featured in this issue appears on page 2.
Your life, your money, your plan
Whatever stage of life you’re at, we can guide you through the opportunities and challenges you may face. We hope you enjoy this issue, and wish you pleasant reading.
