My brother-in-law has just retired after more than 35 years of loyal service with his employer, UK banking giant HSBC. He was not a greedy banker, just a rank and file employee – a solid accountant – so I forgive him for working for a bank that has recklessly shut more branches in recent years than any of its rivals.
Despite what some high-profile politicians predicted before the EU referendum vote, the UK economy is rocking along very nicely post 23 June. The scourge of inflation is under control for the time being – 0.6% as measured by the latest Consumer Prices Index (CPI) – while the employment rate at 74.5% is at its joint highest level since comparable records began 45 years ago.
What interesting times we live in now that the nation has voted to do a Brexit.We have witnessed political musical chairs played out in the corridors of Westminster – and Labour has yet to stop moving its furniture.
The retail investment fund management industry has done Brits proud over the years. It’s helped many of us become (seriously) richer by investing our pensions and individual savings accounts (Isas) wisely in vehicles such as unit trusts and open-ended investment companies (Oeics).
Governments love to tinker with our pensions, rarely for better, often for worse. They simply can’t keep their greedy mitts off them. Shame. The new tax year, beginning on 6 April, will see yet more pension change inspired by government meddling.
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