Smart Money Newsletter Nov/Dec 2016

Welcome to our final issue for 2016. This year has once again rapidly flown past – which is something we say around this
period each and every year, pinpointing time as the most valuable commodity when it comes to implementing any financial
planning strategy.

Have you considered all the potential costs of retiring? Some people find their expenses fall once their working life ends, but it’s important not automatically to assume that all your expenses will go down – some may increase, such as heating and leisure costs. The constantly evolving landscape of legislative change provides both challenges and opportunities in the retirement planning process. On page 07, we take another look at how the pension reforms that came into effect on 6 April 2015 could
impact on your retirement plans.

Few of us really have the time or inclination to understand the vast number of different investment products available on the market and consider what the best options are to suit our particular objectives. To do this effectively, it would need to become a full-time job. But with the busy lives we lead, it can be difficult to find the time to keep fully up to speed with everything
that’s going on, including managing our ever changing financial affairs. Turn to page 06 to see how we can help.

As a population we are living longer, and with an ageing population the need for care is growing, with the time spent in care also
increasing. However, a fifth of the UK (20%) have no idea who will look after them if they have care needs in old age, according to research released from Bupa. Nearly three quarters (73%) think they will have care needs in older age, but only
around half (51%) expect their family to care for them. Read the full article on page 10.

Also, have you ever considered moving and consolidating your pension to another scheme or provider? On the page opposite, we consider a whole host of reasons why people might want to consider doing this before they reach retirement. Some are looking for better fund performance, lower charges or better death benefits; others are simply changing jobs.

Read the full newsletter here.

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