ARE ‘SLASHIES’ THE FUTURE OF WORK?
A study by the Association of Independent Professionals and the Self-Employed1 reports that more than 320,000 self-employed people in the UK have two or more jobs. The term used to describe this is ‘slashie’, as in “I’m a writer/dog-walker/gardener”.
AUTO-ENROLMENT BENEFITTING THOSE IN SMALLER FIRMS
The government reports that auto-enrolment has been an “extraordinary success”. A study by the Institute for Fiscal Studies2 shows that only 26% of small business employees would be saving in a workplace pension if auto-enrolment had not been introduced, whereas the actual figure is now 70%. Auto-enrolment has effectively increased the pension participation rate amongst employees of small firms by 44%.
PENSIONS – DON’T LEAVE MONEY TO THE WRONG PEOPLE
A pension nomination form allows pension plan holders to give instructions as to who should receive their pension on death. But if it isn’t updated when circumstances change, there’s a risk that the pension could pass to the wrong person, for example an ex-partner.
UNRATED POLICY WARNING
People often buy unrated policies from comparison sites as they can seem a cheap option, but the Financial Conduct Authority warns that consumers buying unrated insurance policies could be at risk. Four unrated insurers have gone into administration in the last 18 months, leaving people with certain types of motor and buildings policies without cover.
This article is purely for information only and does not constitute advice, for advice based on your individual needs and circumstances please contact a financial adviser.