How to pass on assets to the next generation to secure their future for tomorrow
Inheritance Tax (IHT) represents a significant consideration for anyone looking to pass on assets to the next generation. As of the 2024/25 tax year, IHT incurs a 40% charge on the portion of an estate exceeding the nil rate band of £325,000, excluding transfers to a spouse or registered civil partner.
14% of those aged over 55 have found themselves re-entering the workforce
In recent times, a significant portion of retirees, specifically 14% of those aged over 55, have found themselves re-entering the workforce, driven by the inadequacy of their pensions to meet rising living costs, according to new research[1].
Survey highlights prevailing uncertainty among those on the cusp of retirement
A recent study reveals that a considerable proportion of UK adults, including a significant number nearing retirement, find themselves in a quandary regarding their State Pension entitlements and the commencement of their payments[1].
Whether through property, pensions or a blend of both, informed decision-making is crucial
A recent study suggests that a substantial proportion of Generation Z, born from 1996 to 2010, view property acquisition as their principal avenue to amass wealth for their retirement years [1]. This perspective is slightly more prevalent within this demographic than the reliance on pensions, with 33% of Gen Z individuals planning to utilise property as a retirement fund compared to 30% who favour pensions.
Prevailing issue of presenteeism highlights a need for a transformation in workplace culture
In an era where the lines between work and personal life are increasingly blurred, a new study sheds light on a concerning trend among UK employees. Despite advancements in workplace policies and a growing emphasis on mental health and wellbeing, a significant number of workers are still pushing themselves to work even when they are not in full health.
