Some news, views and comments about everything and anything, relevant and irreverent.
Retirement means saying goodbye to all those everyday hassles, like scammers, fraudsters and, apparently, your spouse.
Just when you thought it was safe to dip a toe into the gently planned swimming pool of retirement, along comes yet another great big financial shark to bite off your extremities.
Thanks to the chancellor, we’ve now been given more freedom to determine our own pensionable futures. Well, thanks George.
We certainly note that at least one sector of the economy has been quick to embrace the new-found freedoms. That would be the criminal sector in this instance. No sooner had Georgio Osbornetti handed us the metaphorical keys to a turbo-charged V12 from Torino, than the criminal gangs got into top gear themselves with lots of investment scams.
Hardly a couple of months have gone by, and already legions of nefarious ne’er do wells have skimmed £1bn from unwitting pensioners. Widely reported government reaction has been to give the straight forward advice to simply not respond to cold-calling attempts to lure you into parting with hard-saved cash. Another case there of shutting the pensions pot top after the legislation has been bolted.
Of course, for reliable advice, you know that Springfords is the place to come, even if you’re among those contemplating a cold call of your own. We refer to those who are not only planning a twilight life crisis car purchase (thanks again, George) but are also planning to drive off into the sunset, leaving their bemused spouse to choke on the exhaust fumes.
The phenomenon of ‘silver splitters’ is just the latest way for our fractured society to split down the middle, come apart at the seams, and generally fall to bits. Divorces, prompted by the new cash freedoms are, according to some solicitors who specialise in marital misery, booming louder than a Lambo with a burst silencer.
Meanwhile, assuming you haven’t answered the phone to any plausibly sounding spivs with an eye to the main chance, may we urge you to take stock of your future pension planning. The game could soon be up for higher-rate earners earning higher rate tax relief on pension planning. Government sources have hinted that we might well all be in it together, at least as far as it goes for the rate of tax relief on pension contributions.
Still, why worry. It’ll soon be out of your hands as to whether or not most of us save for our retirement, since the government’s automatic enrolment legislation means almost most businesses will have to get you on board with your contributions, whether you like it or not.
Of course, barring the discovery of an asteroid on an imminent collision course with Earth, you should be saving for your retirement , no matter what the legislative framework. The personal price for failure to make any provision is simply astronomical. It’s never too late to take some advice, and although we don’t have a telescope and we don’t do marriage counselling at Springfords, we’re better placed than most to start you on the right course.