paying-off-a-mortgage-or-paying-into-a-pension 
Employee Benefits
JUNE 26, 2023
With interest rates on the rise, we often get asked at our financial education sessions, is it best to pay off your mortgage or pay into your pension? However, there are often limits on the amount you can overpay without paying a penalty, so make sure you check this first.
Employee Benefits
DECEMBER 19, 2023
The Bank of England has also recently reported that nearly 5 million UK households are facing an average £2,900 increase in their annual mortgage payments. Manage debt – There are many different types of debt with varying rates of interest, and it’s usually a good idea to focus on paying off high interest debts first.
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Employee Benefits
JULY 7, 2023
A financial dilemma that many people consider is whether to prioritise reducing their mortgage debt or whether to increase the amount they pay into their workplace pension. On the other side of the coin, when mortgage rates were low, increasing mortgage repayments may have been less attractive than it is today.
Employee Benefits
FEBRUARY 7, 2023
Redundancy Entitlement: If an employer makes a job role redundant forcing an employee to leave the company, they may be entitled to redundancy pay. For those who have been in the same job for at least two years, their employer is usually legally required to pay them. There are also plenty of online resources such as GOV.UK
Employee Benefits
FEBRUARY 6, 2023
As a result of turbulent economic times, many employers have stepped in to offer some form of financial support for their workforces, such as pay rises, one-off cost-of-living payments or an enhanced financial wellbeing package. Financial education can be key to helping employees build future financial resilience.
Employee Benefits
JANUARY 17, 2023
Next, making a list of these monthly outgoings i.e. mortgages or rent, energy bills, debt, car insurance, eating out and groceries, regular subscriptions etc, will highlight where their money is going and what savings could be made. It is often a good idea to make paying off expensive debts a priority. Create a budget.
Employee Benefits
DECEMBER 20, 2023
In retirement, many will probably be paying significantly less income tax, no National Insurance or pension contributions, and mortgages may be paid off, but other costs may be higher such as heating bills as retirees may spend more time at home. Track down all pensions There are 2.8
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