Over-50s Prioritise Leaving an Inheritance over Personal Spending
New research has revealed that the over-50s are choosing to cut back on personal spending so they can build an inheritance pot for their loved ones. However, their children don’t share this view and would rather their parents spent their money on themselves during retirement instead of leaving it behind. The study, by Saga Money, found […]
Calls for Incentives to Encourage Earlier Transfer of Wealth
A new report has highlighted the extent of the pensions and savings gap in the UK, with many adults failing to save enough money to provide for a comfortable retirement. According to the report, one possible solution is to bring about an urgent change in attitudes towards inheritance planning, with a focus on the earlier […]
Study Gives Insight into Views on Inheritance
A recent study from Canada has given an interesting insight into the older generation’s views on spending all their money verses leaving an inheritance for their children. According to the study, which was conducted by HomEquity Bank and Ipsos Canada, 86% of respondents said they are unwilling to forgo doing, achieving or acquiring something in […]
Over-50s Plot £50,000 Pension Giveaway
New research by Saga Investment Services has revealed that a growing number of over-50s are planning to hold back savings in their pension to pass on their wealth tax-efficiently. According to the research, 25% of those surveyed with a private, ‘defined contribution’ pension who were currently using flexible drawdown with their savings said they were […]
Inheritance Plans Affected by Family Financial Support
New research has revealed that the proportion of new retirees who know they will be able to leave an inheritance to their loved ones has fallen to its lowest level in six years. The annual study by Prudential found that despite changes in recent years to rules around inheritance tax and passing on pension pots, […]