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When it comes to charity, here at Burton & Fisher we understand that as a local business we have a responsibility to contribute to the surrounding community each year.
Whether through rigorous fundraising efforts or welcomed donations, this is something that we wholeheartedly embrace – it can even become quite competitive in the office as we attempt to beat the total raised from the previous year! Continue reading
Moving pension goalposts was one of the latest proposed government strategies, which will affect the retirement plans of millions of people across the UK. Although announced during Chancellor Philip Hammond’s Autumn Statement last year, it wasn’t immediately apparent.
Amidst pressure to scrap this governmental plan, the rule was given the go-ahead and will have effect on and after April 6th 2017. This will change how you think about your finances, both short and long term.
A few weeks ago, the Chancellor of the Exchequer, Philip Hammond, delivered the Spring Budget, which set out the Government’s plan regarding spending throughout the year. One thing you may not know is that it will be the last Spring Budget, as it will be moved to autumn.
But how will the budget affect you? We’ve listed a couple of decisions that could affect things such as pensions and investments in the future.
Having enough saved in a pension fund to cover your retirement years is essential, and it’s something that we are constantly being told to do, especially with the introduction of auto-enrolment in a workplace pension.
However, according to a report by the Office for National Statistics (ONS), we may need to start saving for our pensions earlier to ensure that we are saving enough to live on – which is around £21,770 on average a year for a retired household according to the results of the report.
Can you believe that it is nearly Christmas already? The pinnacle of the festive season is only just around the corner and we couldn’t be more excited here at Burton & Fisher. The year has flown by, and the number of things that have happened this year is a true testament to what we can achieve.
Christmas is just a week away, meaning that the new year isn’t far behind. With many people seeing this transition as a chance for a new start, finance is something that people start thinking about overhauling as a resolution for the coming year.
Whether it’s to invest more into a pension pot, look at investments as a whole, or simply put some form of financial management in place, making a resolution to get on top of your financial situation is always a good idea; even if you have some idea of where you are financially, it never hurts to review what you have in place to see if there are any improvements that you could make.
This year’s Autumn Statement fell on Wednesday 23rd November, and it was Chancellor Philip Hammond’s first Autumn Statement. Some changes will positively impact lower income families and workers, ensuring more affordable homes and higher minimum wage. The Chancellor also touched upon Brexit, and how the economy has slowly been recovering.
When the auto-enrollment for pensions rolled out initially in 2012, it was to aid employees with their pension savings; employers were tasked with automatically enrolling their members of staff into a workplace pension scheme where both employer and employee were required to make contributions to a pension pot.
Thanks to recent research conducted by the Institute for Fiscal Studies (IFS), this auto-enrolment scheme has seen the amount of people paying into pension pots rise significantly, with 4.4 million savers being accredited to the introduction of this scheme.
Britain’s pensions have always been well-known for being some of the best in the world. We have long been well within the Melbourne Mercer’ Global Pension Index’s top ten countries who are recognised as having fair pension schemes that provide the best outlook for an aging population.
However, as the 2016 report released, the UK’s position slipped from 9th to 11th, meaning we are no longer within the top 10 countries out of 27 that the index ranks on a yearly basis for the first time.