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What was in the weekend’s papers? (07/09/2020)

Category: News

FINANCIAL TIMES

“UK confirms plan to extend age for accessing private pensions”

From 2028 individuals will have to be 57 rather than 55 to draw from their retirement savings.

COMMENT: The change to linking the page someone can access their pensions to within ten years of their state pension age was put forward by the Government a while ago. This is something we had been built into our plans for our clients. Where clients have wanted to retire earlier than they would be able to access their pensions we have looked to build an investment portfolio to draw on in the interim period.

“Case for pensions tax rise’ to aid Covid recovery”

Think-tank head advises MPs’ committee looking at future tax options.

COMMENT: You are never too far away from speculation about changes to pensions. We posted about potential changes to pension tax relief earlier this year here. Whilst changes could take place, they would be difficult to implement and run the risk of disincentivising pension saving.

This is why we regularly review our clients’ plans. Things change and we always look to adapt our clients’ plans to reflect the changing taxation environment.

“Sunak must avoid the rabbit hole of huge tax rises”

The pet supply shortage could be just one symptom of rising inflation.

COMMENT: It is fairly certain taxes will rise in some sort of manner. Once again this is why we regularly review our clients’ plans. Things change and we always look to adapt our clients’ plans to reflect the changing taxation environment.

“High-energy investments to give your portfolio critical mass”

The nuclear sector will be a necessity in the future.

COMMENT: One of our fundamental beliefs when investing is acknowledging nobody can consistently predict the future. There will no doubt also be experts predicting Nuclear power will have no place in future power generation. Investing to take into account as many future outcomes as possible is the best way to make money over the long term.

THE TIMES

“The child trust fund fees rip-off”

Children’s savings are bled dry by sky-high charges.

COMMENT: When we have reviewed CTFs we have found that many do have high charges. As an alternative, there are Junior ISAs which have much lower charges and offer access to a much wider range of investment options.

“There’ll be outrage, but it won’t stop a giant tax grab”

Tax doesn’t have to be fair, let’s get that idea out of our heads to begin with. This isn’t the playground, not everyone has to be a winner.

COMMENT: It is fairly certain taxes will rise in some sort of manner. Once again this is why we regularly review our clients’ plans. Things change and we always look to adapt our clients’ plans to reflect the changing taxation environment.

“Pensions, assets or income?”

Rishi’s tax options.

COMMENT: It is fairly certain taxes will rise in some sort of manner. Once again this is why we regularly review our clients’ plans. Things change and we always look to adapt our clients’ plans to reflect the changing taxation environment.

THE TELEGRAPH

“Five funds the experts are buying to steer them through the next six months”

Britain, Japan and China are all regions worth punting on according to our experts.

COMMENT: One of our fundamental beliefs when investing is acknowledging nobody can consistently predict the future. There will no doubt also be experts predicting Britain, Japan and China are not regions worth punting on. Investing to take into account as many future outcomes as possible is the best way to make money over the long term.

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