Many workers in sectors that shut down during the COVID-19 lockdown could be facing a retirement savings crisis, according to a report. Scottish Widows polled 5,757 savers for its annual retirement report, which was undertaken in March 2020 – during the height of the pandemic.
COVID-19 prompts spike in fraudulent behaviour. While the UK tries to deal with the economic impacts from COVID-19, reports are rife of fraudsters stepping up their attempts to access your money.
Should you transfer or consolidate funds? Around £19.4 billion has not been claimed in 1.6 million lost or forgotten pension pots, according to the Association of British Insurers (ABI). On average, this equates to about £13,000 per pension pot.
Being the director of a limited company gives you independence. It gives you the freedom to choose how and when you work, and to determine the direction of your business as you build it over time.
The Government is reportedly considering scrapping the pensions triple lock in an attempt to recoup billions of pounds spent on coronavirus support schemes.