Earlier this year as a result of the coronavirus pandemic, the FTSE 100 marked its worst quarter since 1987, losing around 25 per cent of its value. The biggest losers were travel and leisure stocks, dropping up to 45 per cent due to falling demand and tougher restrictions. Even though the FTSE 100 started to rise steadily as the UK economy reopened, fears of a ‘second wave’ plunged the index Read More….
Businesses affected by the coronavirus pandemic could encourage staff to quit their company pension scheme, the ombudsman Antony Arter has warned. Currently, it is illegal for businesses to ask or induce employees to opt out of their workplace retirement plan after they’ve been enrolled. But if a member of staff does opt out, the employer does not have to make contributions of at least three per cent of their pensionable Read More….
It’s only natural to feel anxious or concerned about your pension pot. After all, everyone wants to enjoy their retirement to the fullest, which means having ample funds to live on. However, the coronavirus pandemic has forced most people to put their personal finances into sharp focus, particularly those approaching retirement. As a result, ‘pension panic’ is sweeping the UK, with many making rash decisions about their financial nest eggs. Read More….