Pensions
It is great how millions are benefiting from the Autoenrollment rules now in place. They don’t only have pensions for the first time in their lives in many instances but they also have some life insurance (the value of their funds) and something upon which to build for their futures.
However, I have said before that it is a high cost for employers and perhaps too much when added to all the other high costs of employing anyone and which may deter businesses from actually employing anyone at all (or as many) after we come through the other side of this Pandemic.
However, a disturbing report suggests that many are losing-out on their statutory entitlement to pensions at their workplace. We are aware of how the ‘casual’ industries can still end-up cheating the regulations too easily (or by ignorance) and treat employees as self-employed or ‘cash in hand’ and as for pension contributions (despite the rules), they just doesn’t feature, let alone holiday pay and things like that.
Emotional Wellbeing
Professional financial advice helps to improve the emotional wellbeing of customers on top of the expected financial benefits, new research from Royal London has suggested.
A new report from the retirement specialist, titled Feeling the benefits of financial advice, estimated that around 17 million people in the UK have received financial advice, with the vast majority feeling positive about their adviser and the services they provide.
For advised customers, Royal London revealed the most commonly recognised emotional benefits of their adviser’s services are having access to expertise, which makes them feel “more confident “in their financial plans. Other benefits included feeling more in control of their finances, and gaining peace of mind.
The research, based on findings among a UK nationally representative sample of 4,007 people, also showed that advised customers feel positive about the service they received – with the key areas of satisfaction being the quality of advice and expertise (82%), communication style (81%) and trustworthiness (81%).
Over the thirty-five years that we have been in business, we are proud to have helped, reassured and advised many thousands of individuals, couples and families. Together we have endured many challenges but have always been here for our customers regardless and place huge importance on doing whatever we can to assist. Therefore, the results of this research are in accordance with what we would hope our customers feel about our client service.
