Analysis in the report shows that investors who put money into zombie funds are often being disadvantaged as a result of high charges and poor investment performance. Regular investments reviews, typically annually, are therefore essential to ensure your funds are able to work as hard for you as possible.
Research conducted by Saga has confirmed that one in seven UK retirees accessed their pension pots without advice, which represents more than £3.2 billion having been drawn as a lump sum from pensions. Retirees have accessed approximately £23.6 billion in total since the pension freedom rules were introduced in April 2015.
One Social Media Platform in particular is being warned of investment scams being promoted on their sites with victims losing a total of £3 million since October 2018. Action Fraud issued the warning, after receiving 356 reports of fraud targeting Instagram Users, reporting the average loss to be £8,900.
As we gradually age, become more wiser and enjoy a well earned rest from working, our attention turns to later life and how to ensure we receive appropriate support and care should it be required. According to Alzheimer’s Research UK’s 2015 analysis report 1 in 3 people born in the UK from 2015 will develop dementia, which is a worrying statistic.
The tax year end is fast approaching and you only have until 5 April to make the most of your allowances in the current year before they are lost. If you have not yet considered investing in an ISA, maximising Pension contributions or made use of your Personal Allowance and Capital Gains Tax Allowance, now is the time to do so before it is too late.
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Figures released by the Equity Release Council (which represents 95% of the equity release market) show that older homeowners unlocked £3.94 billion of property wealth in 2018 up 29% year on year. The market saw 46,000 new customers in 2018, an increase of 25% on 2017. The number of returning pension drawdown customers was also up 27% in 2018.