As a result of the new Pensions Bill, announced in the King’s speech, it will be interesting to hear more of the plans for trust-based schemes to be legally required to offer retirement income solutions to members, including default investment options.
According to WEALTH at work’s latest research of over 2,000 workers, the biggest financial concerns for the year include not having enough savings for unexpected costs (40%), not being able to save enough for the future (38%), not being able to pay basic living costs such as rent, mortgage payments, energy bills, food etc. (34%) and being in debt (29%).
This week, hawkish comments from the Bank of Japan’s (BoJ) policymakers have markets wondering whether their quantitative tightening plan being unveiled in July will be bigger than originally thought.
The number of people in full-time employment who believe they will never be able to afford to retire because of the impact of the rising cost of living is on the rise, with two fifths (39%) of workers claiming they will never be able to afford to stop working, up from one in three (33%) twelve months ago.
Over the next year 1.5 million homeowners are expected to face sharp increases in their monthly mortgage payments when their fixed rate deal comes to an end, with prices rising by approximately £1,800 a year on average .
According to new research* from WEALTH at work it seems that scammers are using multiple methods to hoodwink people out of their money, as the research found that more than a third (34%) of those who had lost money to a scam in the last 12 months had done so to two or more types of scam.
We are absolutely delighted to announce that we have been named as one of The Sunday Times Best Places to Work 2024 and are amongst the best ‘Big Organisations in the UK’.
More than 14,000 companies in the UK operate a Save As You Earn (SAYE) share plan, which offers employees a tax efficient way to invest in their company’s shares.
The FCA announced that more over 55s are accessing their pensions, and over half are cashing out their pension pots completely.
According to new research* from WEALTH at work of over 2,000 working adults with a defined contribution workplace pension, nearly half (49%) said they were unaware of what their pension is invested in.