For those in this fortunate position, after 6 months of extra ‘lockdown’ cash being added to their bank balance, now’s the time to review future savings and investments to get a better long term return.
Total scheme assets decreased by less than 0.1 per cent over the past month, to £1,775bn, representing a 5 per cent increase since the start of the year.
Fidelity Investments suggests a retirement savings rule of thumb for individual which calls for saving 1x your salary by age 30, 3x by 40, 6x by 50, 8x by 60 and 10x by age 67.
This month, 43 per cent of Fidelity’s analysts reporting positive indicators globally, compared with 39 per cent last month.
What is furlough, how does affect your pensions, and what happens when the rules change in August? We answer all your questions on the Coronavirus Job Retention Scheme
Its budget for 2020/21 is £140.9m, split up as £129.7m for resource spending, £400,000 for capital spending and £10.8m is for the pension dashboard programme.