Worldwide Financial Planning

There are reportedly over £20billion in lost pensions sat around in dusty cupboards. It sounds a lot when you try to spend it on a Friday night. Read this column, especially if you haven't looked at your pension in a while.

In this week's FE Commentary, read how house builders came under more pressure after Crest Nicholson issued a profits warning. Recent updates from building firms have been mixed, with many companies reporting falling sales but saying a resilient core of demand remains, despite higher mortgages costs.

One of the most beneficial reasons for having a pension is this - at retirement date you are no longer forced to buy an annuity straight away, and so you can leave your pension fund invested and allow it to grow, whilst also benefitting from its Inheritance Tax benefits.

The cost of services, particularly travel and leisure, is still rising fast and the decline in oil and gas prices from last year’s highs will not last much longer and this will be concerning for the Bank of England. Markets have not been slow to notice and the potential for a 0.5% hike in September caused gilt yields to rise.

In years gone by, as you neared retirement you had only one option which was to prepare yourself to buy an annuity. In this series of columns, here, Peter McGahan looks into what options you have in front of you today as you think about retirement.

In the UK surprisingly robust growth figures caught out most people, with the data not reflecting either the market consensus or general mood of the country. It is baffling that a large increase in interest rates, a huge squeeze on the consumer as bills eat into disposable income and high energy and input prices aren’t having the effect expected.