Spooky Season For Pensions

With Rachel Reeves due to deliver The Budget next Wednesday, the financial press has been focussed on the potential announcements, and often with a tilt towards the most scary options. With the statement from Keir Starmer in August that Budget would be “painful” people have been scrambling to predict what this could mean and how to mitigate potential tax changes. A major theme that comes up on my news feed (which is somewhat finance heavy) has been the rush for people to take tax-free cash from their pensions in case it is capped further or even taken away.

Whilst I understand the desire to ‘get ahead of the game’, we don’t actually have any clear information on what the rules of the new game will look like. I firmly believe that when looking at your finances in a healthy way, decisions are focussed on the longer term and taken slowly, carefully and when in possession of as many facts as accessible.

Obviously, next week’s newsletter will be focussed on that information. We will know what has changed and the fear and guessing can stop. Then we can get on with actual Halloween the day after! 👻 Oh yes, and the US Election 😱 

Key Articles I Have Read This Week:

• Money Week have more of a look at the pension tax-free cash issue: Read it here

• At the other end of the life timeline, The Guardian have a look at how to financially prepare for a baby: Read it here

Investment Markets This Week:

Best Cash Savings Rates This Week

With Less Than 2 Weeks To Go….. 🇺🇸