Independent Financial Life Planners Bishop's Stortford: Another year to wait for your state pension?

Wednesday, 4 January 2017

Another year to wait for your state pension?

Enable’s IFA’s of Bishop’s Stortford noted that at the end of last year it was reported up to 30 million people could be forced to wait an extra year before receiving a state pension under new plans being considered by Government. If you want to make sure you are making the best of your pension savings we can help you look at your figures.

The government squeeze could form part of another major state pension age review which could force people retiring after 2028 to work longer, threatening to shrink the retirements of all adults currently aged 22 to 54. The plans could save the Treasury around £240 billion by shaving an extra 12 months off their state pension entitlement. The final results of the wider state pension review will be published next May and are expected to recommend younger generations should work beyond the age of 70. The Government has committed to reviewing the State Pension age every 6 years.

Plans for the wider state pension review have been afoot since 2013 but this latest change will have far-reaching consequences if it goes ahead. There does not seem to have been much protest maybe people never believed the State Pension promise anyway, or maybe it is just too far away to worry about. But if you are worrying about what your pension might look like it is never too early to talk to our experienced independent financial advisors at Enable.

http://www.telegraph.co.uk/news/2016/11/21/30-million-55s-will-have-work-extra-year-getting-state-pension/

Issued by: Enable Independent Financial Life Planners •  25c North Street, Bishops Stortford, Herts CM23 2LD • Telephone: 01279 755950 - Fax: 01279 657339 Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority. It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us. NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.