How do you compare?

Industry experts, the Pensions and Lifetime Savings Association (PLSA) suggest that, to have a moderate standard of living in retirement, a couple needs a net income of around £30,600 a year or £36,200 for those living inside London. Yet only about 42% of UK households are on track to achieve this. They have done a…

King Charles III will not pay any inheritance tax

King Charles III has avoided paying millions in inheritance tax on the Duchy of Lancaster estate due to an old rule designed to protect the Royal Family’s wealth.  His Majesty automatically inherited the estate, worth over £652 million, following the death of his mother, Queen Elizabeth II. Under UK law, Inheritance Tax is levied at…

Do you know where all your pensions are?

When people move home, only around 1 in 25 remember to tell their pension providers their new address.  This has led to over £19.4 billion of unclaimed pension pots, equating to 1.6 million pensions with an average fund size of £13,000.  National Pension Tracing Day is on Sunday, 30th October, an unhelpful date as all…

Investing in a zombie company

The Financial Times recently reported that the UK Future Fund, a government-run venture fund set up during the pandemic, has mostly invested in zombie businesses that have no long-term viability.  This is not surprising given the apparent confusion over whether the fund was focused on growth or simply providing a backstop for high-risk businesses. The…

The cost of education

A good education can be invaluable, but also requires significant investment and long-term planning.  Last year the average cost for parents getting a child from birth to the age of 21 came in at £231,843, according to a recent study compiled by the Centre for Economics and Business Research in London.  Although the total includes…

Is £50k per year enough for your retirement?

It has been calculated that couples will need to find an extra £2,200 a year to maintain their standard of living post-pandemic, according to the pension’s industry research. The estimates show that a basic standard of living for a couple now costs £16,700 per annum, a moderate lifestyle requires £33,600 per annum, and a comfortable…

Is HMRC the major beneficiary of your estate?

The latest HMRC data reveals that Inheritance Tax (IHT) receipts for the period April 2021 to February 2022 stood at a whopping £5.5 billion, £700 million higher than the corresponding period in 2021. The average amount paid per estate was around £209,000 and this amount can often be mitigated by various well-accepted financial planning techniques,…

The question is…are you feeling lucky?

With interest rates now the highest they’ve been since the Global Financial Crisis (GFC), are Premium Bonds still worth it? The answer depends on who you ask. With Premium Bonds, it has long been considered that there is no risk to your capital, it is only the ‘interest’ element that is a gamble. And as…

Solidus Award

At Foresight, we always aim to provide the best service for our clients and work hard to maintain these standards.  However, it is always good to have outside recognition of our efforts. We are proud to announce that have been awarded the Solidus Achievement of Excellence for our Estate Planning and Trust based solutions.  Solidus…