These articles help you understand your financial needs and aspirations
The Chancellor, Rachel Reeves, delivered her Spring Statement 2025 on Wednesday 26 March. Keeping to her promise of one fiscal event per year, she made no new tax announcements. Instead, she focused on measures to boost housebuilding and defence spending while making substantial welfare cuts.
The Office for Budget Responsibility (OBR) has lowered the UK's 2025 growth forecast from 2% to 1%, but it expects improved growth in the years leading up to 2029. Reeves acknowledged the challenges, stating that achieving economic growth will require time, tough decisions and persistent effort. However, she mentioned that people would be 'on average over £500 a year better off' under a Labour government – a figure she claimed the OBR has confirmed.
Labour's welfare cuts are expected to save £4.8 billion, with reductions deeper than initially anticipated. Day-to-day spending remains safeguarded, except for the aid budget. Defence spending is set to increase by £2.2 billion next year, aiming for 2.5% of GDP in the future. Due to Labour's planning reforms, housebuilding is projected to reach its highest level in 40 years.
Welcome to our latest issue. On 30 October, Chancellor of the Exchequer Rachel Reeves will deliver the Autumn Budget Statement 2024. It will be a critical indicator of the government's approach to managing the economy, aiming to foster an environment conducive to sustainable growth. The outcomes of this Autumn Budget will have far-reaching implications, potentially influencing everything from tax rates and public services to business investment and consumer confidence. As such, it is a pivotal moment that will shape the economic landscape in the months and years ahead. On page 10, we look at what it could mean for your finances.
Could you have been underpaid the State Pension?
HMRC estimates that affected women could be owed an average of £5,000 each
Pension scams on the rise
Protect your savings! 7.3 million UK adults encountered an attempted scam in the past year
Navigating the complexities of inheritance
Should you consider estate planning and gifting for future generations?
Mastering financial planning
Essential tips for mothers balancing family and finances
Autumn Budget Statement 2024
What it could mean for your finances
Time to revisit your retirement plan?
Helping you feel more prepared for this stage of your life
The middle-aged squeeze
Juggling careers, family care and financial pressure amid rising costs and wealth transfers
The cost of early withdrawal from your pension
How retirees are impacting their financial future by accessing pension pots too soon
Rising demand for health cover
Grappling with a workforce sickness epidemic and long NHS waiting times
Building wealth and achieving financial goals
Aligning investments with risk tolerance and capacity
The future of retirement
Experiences of the past and potential future scenarios
The Great Unretirement
Contemplating a return to work after a significant absence or considering a phased return?
Sandwich generation
Two-thirds of people in the UK will care for a loved one at some point
Take your pension to the max
Do you have potential shortfalls and need to address these gaps?
Empowered savers
How to make future aspirations more attainable and less stressful
Shaping a sustainable future
The imperative of collective action and responsible investment
New study uncovers financial vulnerability in five million UK households
Delayed life milestones and lack of planning pose significant risks
Redundancy and your pension
Understanding your workplace pension options to navigate your next steps confidently
Have you secured your legacy?
The vital role of Wills in estate planning
Should you use your pension lump sum to pay off your mortgage?
Essential key considerations and potential pitfalls you need to know
The retirement gap
Why UK retirees are working seven years longer than planned
The rise of remote work and moving abroad
Becoming a UK expat can mark the start of an exciting chapter, but what about your pension?
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