Financial News Roundup

560 315 Peter Deane
financial well being

This week we’ve picked out some financial news, including employee financial well being and news of state pension.

Independent: Historical changes to state pension hit millions of newly bereaved

financial well being

There have been changes to the state pension system. In the past, a widow or widower would receive an extra boost or some of the spouse’s pension but with the new system, you might not get anything when your spouse passes.

Our thoughts

Recent changes in the way state pension benefits are treated may have gone unnoticed but could result in lower payments for newly bereaved.  It’s difficult to keep up with the constantly changing pension landscape, more details about claiming benefits following a bereavement can be found by visiting gov.uk.

Read the full article here

Money Marketing: FCA: Decision trees and ‘red-amber-green’ warnings likely to be advice

financial well being

The FCA will release more guidance for financial planners on how they can triage defined benefit transfer cases. This comes after the FCA received a number of questions from Advisors about tools such as decision trees and red-amber-green traffic light questionnaires.

Our thoughts

It looks as though the FCA is still struggling with appropriate guidance for Advisers to deal with defined benefit pension transfers.

Read the full article here

HR News: Want to support your employees’ financial wellbeing?

financial well being

Poor financial wellbeing can happen to anyone and can cause real problems in an individuals life including at work. Individuals worrying about money are more likely to have a bad nights sleep, more likely to not finish tasks and more likely to be depressed.

Our thoughts

A useful article from HR News on how employers can address the financial well being of their employees and the benefits of doing so.

Read the full article here

Lower My Charges

We publish financial news roundup at the end of every week, so watch this space. If you would like to find out more about LowerMyCharges or how to switch your adviser, please contact us directly.

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