In the last edition of our TIPS financial guidance magazine for 2020 we look at a number of different topics to help you accomplish what matters most to you and your family as the festive period approaches.

In these uncertain times, it can help to focus on the things you can control. And working out what your money’s doing for you now and where it might come from in the future can give you a real peace of mind. On page 06, as another year rapidly draws to a close, many of us may already be starting to think about what resolutions we can make to improve our financial health in 2021. And even though we may resolve to improve our finances, it’s knowing where to begin that’s key.

For the first time in over a decade, the point at which people can claim State Pension (the ‘State Pension Age’) is simple. If you have reached your 66th birthday, you can claim it. Otherwise, you cannot. Men and women born between 6 October 1954 and 5 April 1960 start receiving their pension on their 66th birthday. for those born after that, there will be a phased increase in State Pension age to age 67 in 2028 and eventually age 68 from 2037. Check out page 03 to find out more.

There is no easy way to say it – anticipating one’s death is an uncomfortable topic. Yet it is often worth pushing past the initial discomfort to pursue the potential rewards of effective wealth transfer planning. On page 04 we consider the three places your assets can go at your death: to your family and friends; to charity; or to the government in the form of taxes.

Chancellor of the Exchequer, Rishi Sunak, unveiled further support on 22 October for jobs and workers impacted by the coronavirus (COVID-19) restrictions. Announced alongside a package of business grants for companies in areas facing higher levels of coronavirus restrictions, the expansion comes after Mr Sunak first announced the Job Support Scheme (JSS). Read more on page 05.

Your life, your money, your plan

Whatever stage of life you’re at, we can guide you through the opportunities and challenges you may face. We hope you enjoy the latest TIPS issue, and wish you pleasant reading.

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