Summer Newsletter 2026
Sir David Attenborough celebrated his 100th birthday this year, and the nation celebrated with him. His extended career and continued high profile aren’t something many of us will be able to replicate, but longer life spans can be expected for many people, with half of women and two-fifths of men aged forty today enjoying a life span of 90 years. But with an extended lifespan comes the question of how to fund it.
In what has been billed as the most significant change to pensions since the introduction of pension flexibility 11 years ago, the new Pension Schemes Act 2026 is set to overhaul the provision of pension funding and improve the outcomes for pension investors. With a focus on consolidating the number of defined contribution (DC) schemes, currently dominating the private pension sector, into larger, value for money funds, the whole shape of the pension landscape looks set to shift.
If you are approaching retirement age you are a target for a new wave of frauds proliferating through both online and telephone channels. The offer to boost retirement savings can sound tempting and purport to come from your provider, but the promised returns fail to materialise or in some cases funds can be lost entirely Younger people have also become a targeted demographic – and may be even more vulnerable to persuasion as frauds targeting them can also come with endorsements from a recognised social media personality of ‘finfluencers’. However, their credentials are in the most part questionable, with some figures now on trial for breaching regulations. The adage about talking to professionals is particularly crucial when it comes to investment.
It’s not all bad news for the young. Some younger people will be fortunate enough to benefit from a little-known opportunity to boost their savings in their 18th year. The last year of the Junior ISA before the child turns 18 is eligible for the maximum £9,000 investment, as in all the previous years. If the young person then opens an ISA in the same year, after their 18th birthday, a further £20,000 tax-free savings opportunity opens up for them creating a special ‘bumper’ tax-free savings year (although from April 2027 the maximum amount investable in a cash ISA for those under 65 will be £12,000).
For updates on these and other issues that could affect your financial planning, please see our Summer newsletter. We will be back in touch in September when the new team in Downing Street will be bedded in.
