esmartmoney

Welcome to our latest edition. 

Inside this issue, the unique combination of tax breaks and flexible access available to pensions makes them a compelling choice when saving for retirement. On page 08 we look at one of the key benefits of saving into a pension rather than another type of savings or investment vehicle – the generous tax relief you’re entitled to receive. Making the most of pension saving involves maximising tax relief and allowances which could substantially boost your retirement savings.

The coronavirus (COVID-19) pandemic has led to a reappraisal of urban living, with increasing numbers fleeing city confines in search of green space. Three million people aged over 50 now plan to relocate in retirement, as a direct result of the pandemic. A year of lockdowns has motivated these over-50s to want to move closer to family and friends, pursue a better quality of life or even move abroad. Turn to page 10.

When you’re planning your retirement income, there are multiple factors to consider. But one factor not to overlook is how much of your retirement income you could lose in taxes. On page 09, new data highlights that retired households lose nearly 14% of their income a year to direct taxes.

We hope you enjoy our latest issue!

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