The World Bank’s Post

Our online December knowledge session on 📈Is growth fiduciary?📈 is next Thursday 14 December! 🍃 Legal Voices for the Future member, Tim MacDonald, will discuss the crucial role played by the pensions industry in the fight against climate change. Pensions are all but invisible in social thinking about social change today. And yet they control vast sums of society’s shared savings - more than any single government, and many times more than any single corporation.   In this session, we explore how pension powers can be exercised to become a force for social action on climate.   Sign up using the link in the comments! 👇 #climatechange #legalvoicesforthefuture #lawyers #growth #fiduciary

Just started the course on Informality and the Transition to Formal Economy by ITCILO and I would like to ask my connections specifically in the least developed and middle-income countries: Considering the status of our nation's pensions, investment schemes and mismanagement of state institutions, what is your take on strengthening the formal sector? Do we have faith in our governments coming through for us when the time is up to fulfill their promises, hence the need to strengthen the formal economy(paying taxes and social security)? Lets educate ourselves on the matter. #informaleconomy #formaleconomy #leastdevelopedcountries #middleincomecountries #transitioningsafely

With confirmation today that state pensions will be rising by 8.5% next year, two opinions seems to be prevalent: 1. Pensioners deserve it - there’s a cost of living crisis, and relatively speaking, the UK state pension doesn’t match up with state pensions of comparative nations. Pensioners need as much help as they can get. 2. Pensioners don’t deserve it - why should the youth of today, who have had less financial advantages (affordable housing, DB pensions, etc) fund this (at least in part anyway)? What are your thoughts on this? I am most definitely not qualified to provide any insight into whether it’s right or wrong to keep the triple lock, or what they should do as an alternative. However, that being said, when I see elderly, vulnerable people struggling, I know what side of the fence I sit on.

The third tip in my series to help set your child on the path to financial freedom relates to generations supporting generations. For grandparents, here's a brilliant way to pass down wealth to your grandchildren on your death. 💰 Consider using your pensions to secure your grandchildren's financial future. If you're under age 75 when you pass away, pension funds are paid out tax free to the beneficiaries. If you are aged over 75 when you pass away, the beneficiaries are taxed at their marginal rate of tax. By doing this, you're creating opportunities that could shape their future in incredible ways. #FamilyLegacy #PensionPlanning #GenerationalWealth

The Impact of Regulatory Changes: Adapting to Financial Evolution in South Africa The South African financial landscape is evolving! Legacy Wealth Solutions keeps you informed about recent regulatory changes, impacting pensions, taxes, and more. We empower you to understand these changes and adapt your financial plan accordingly. Our holistic approach ensures your wealth remains protected and grows even amidst changing regulations #FinancialRegulations #FinancialPlanning #HolisticWealthManagement

Saving a nest egg can give your children a great start in life - and it can help the financial well-being of your whole family. Recent research by St. James's Place revealed that more than two-thirds (69%) of clients expect to provide some form of financial support for a family member at some point* – over and above day-to-day ‘running costs’ Let's look at the options; such as children's pensions or a Junior ISA. *Intergenerational Wealth Transfer Survey, SJP and The Wisdom Council, 2023, survey size 887. #FinancialWellbeing #AnglianWealthManagement #WealthManagement

Creating a nest egg for your loved ones is so important

THE STATE PENSION. Why is there hostility about the #statepension and the #triplelock, which keeps it at least at a reasonable level of pension? People make financial contributions during their working lives, for decades, to be entitled to a full state pension. So it isn't really a benefit, rather it is deferred wages. The UK state pension is one of the lowest in the EU, so no one will be living the high life on just the state pension. Without the triple lock many older people would be living in poverty. Some fortunate people will have additional occupational or other pensions. However total pension income is subject to #incometax, which is right and proper. Guess who has one of the best pensions in the UK? #MP's of course, paid for by the taxpayer. Surprise, surprise.

𝗧𝗵𝗲 𝘀𝘁𝗿𝘂𝗴𝗴𝗹𝗲 𝗳𝗼𝗿 𝗳𝗮𝗶𝗿 bp 𝗽𝗲𝗻𝘀𝗶𝗼𝗻𝘀 𝗴𝗼𝗲𝘀 𝗼𝗻. ▶️ Winter is approaching again and many pensioners will really struggle financially with high fuel bills. ▶️ An average BP pension of £18,000 and soaring cost of living price increases means that a 17% loss in pension value is distressing, cruel and unfair. 𝗗𝗼 𝘆𝗼𝘂 𝘁𝗵𝗶𝗻𝗸 𝗕𝗣’𝘀 𝗻𝗲𝗴𝗹𝗲𝗰𝘁 𝗼𝗳 𝗳𝗼𝗿𝗺𝗲𝗿 𝗰𝗼𝗹𝗹𝗲𝗮𝗴𝘂𝗲𝘀 𝗮𝗻𝗱 𝗳𝗿𝗶𝗲𝗻𝗱𝘀 𝗶𝘀 𝗿𝗶𝗴𝗵𝘁? ▶️ To see more than 50 different BP pensioner stories check out the comment below 👇 #BPpensions #bp #CSR #ESG #ethics Louise Kingham CBE FEI Craig Marshall Kate Thomson

Families paid £4.6 billion in Inheritance Tax (IHT) through the first seven months of the 2023/24 financial year (April to October) – up 12% on the first seven months of 2022.1 Reducing the value of your estate during your lifetime will mean that your family will owe less IHT in the future. Many people know that they can gift money to reduce their IHT liability, but not everyone knows how workplace pensions and death-in-service benefits can be ringfenced to avoid IHT. Read more here: https://lnkd.in/esV2efPN #ihtplanning #financialadvice #financialplanning #legacy #family