Welcome to the latest issue of our TIPS financial magazine for Sep/Oct 2020. As the world continues to work out how to live with the coronavirus (COVID-19) pandemic, many will agree that the new normal needs new thinking.

The pandemic has unleashed changes that seemed unthinkable only six months ago. Along with the health, safety and well-being of family, friends and loved ones, the new normal has also highlighted the need for financial guidance and support during this turbulent period.

Saving into a pension is one of the most tax-efficient ways to save for your retirement. Not only do pensions enable you to grow your retirement savings largely free of tax, but they also provide tax relief on the contributions you make. On page 10, we look at the various pension allowances that you need to be aware of and help you understand how to make the most of them.

While the number of couples divorcing has decreased in recent years, the cohort of couples deciding to split in later life is on the rise. Splitting with a spouse in your forties, fifties or even later can bring with it many complications. What’s the reason for the boom in so-called ‘silver’ splitters? Check out page 09 to find out.

Giving up the 9-to-5 doesn’t necessarily mean stopping work. On page 03, we explain why many people are now considering staggered or flexible working. It can suit some individuals who have caring responsibilities or health issues, or those thinking about retiring in the next few years.

We are living in extraordinary times right now, in the grip of a global coronavirus pandemic. Families are becoming more open about their finances, with the COVID-19 crisis highlighting the need to discuss Wills and Inheritance. Read the article on page 06.

Is your financial planning strategy ready for the new normal?

We hope you enjoy the latest issue of our financial magazine, and if you require any further help or guidance please do not hesitate to contact one of our independent financial advisers here. We’re here to help and support you and your family.

You can read a copy of the latest TIPS here.

The content of the article featured is for your general information and use only and is not intended to address your particular requirements. Articles should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of the particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of any article. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts. Levels and bases of, and reliefs from, taxation are subject to change and their value depends on the individual circumstances of the investor. The value of your investments can go down as well as up and you may get back less than you invested. Past performance is not a reliable indicator of future results.