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What is pension tax relief? How it can help you reach retirement goals

There are many excellent reasons to save into a pension. One of them is the tax relief you benefit from, but many pension savers are overlooking this valuable boost to retirement savings.

According to a Royal London survey, just 15% of people fully understand how tax relief on pensions is paid. Importantly, once people had a better understanding of how pensions tax relief works, 25% were more likely to increase pension contributions. Tax relief can help boost your savings and put you on a path to a more comfortable retirement.

Read more: What is pension tax relief? How it can help you reach retirement goals

How to choose the right financial protection product to give you confidence

The pandemic has highlighted the impact the unexpected can have on finances and lifestyle for millions of people. The uncertainty of the last year is spurring more people to consider financial protection products. However, simply taking out a protection policy may not provide you with the right type or level of cover. It’s crucial you consider your priorities and situation.

Some 8.3 million (48%) of 25- to 44-year-olds that don’t have an income protection policy are now interested in learning more, according to an LV= survey. After a year when unemployment figures increased and more than nine million people have been on furlough at some point, workers are more aware of their financial security than ever.

Read more: How to choose the right financial protection product to give you confidence

World Environment Day: Why restoring ecosystems is important

Since 1974, World Environment Day has been celebrated annually on 5 June. It aims to engage governments, businesses, and people to address pressing environmental issues. This year, the theme is “ecosystems”.

An ecosystem is a community or group of live organisms that live in and interact with each other in a specific environment. From frozen tundra to diverse forests, ecosystems are important, but modern lives mean these environments are being degraded. According to the United Nations (UN):

Read more: World Environment Day: Why restoring ecosystems is important

Covid-19 spurs more people to seek financial advice, but it’s not just for times of crisis

The pandemic has placed pressure on families across the UK. So, it’s not surprising that more people are seeking financial advice and thinking about their long-term security. While financial advice can be incredibly useful in a crisis, an ongoing relationship with a financial planner can be just as valuable.

After a year of lockdowns and social distancing, 53% of UK adults say the financial crisis caused by Covid-19 has prompted them to seek professional financial advice, according to a survey from Prudential.

Read more: Covid-19 spurs more people to seek financial advice, but it’s not just for times of crisis

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