National Minimum Wage Rates

Just a note to remind you that new rates for the National Minimum Wage (NMW) and National Living Wage (NLW) apply from the 1st April.

From the 1st April 2018, the following hourly rates will apply

  • NLW rate for workers aged 25 and over – £7.83
  • The main rate for workers ages 21-24 – £7.38
  • The 18 – 20 rate – £5.90
  • The 16 – 17 rate for workers above school leaving age but under 18
  • the apprentice rate* – £3.70

*for apprentices under 19, or 19 or over and in the 1st year of their apprenticeship

Remember there are no exemptions from paying the NMW on the grounds of the size of the business.

Using Multi-Asset Funds in Client Portfolios

If the recent volatility in stockmarkets has demonstrated anything, it is that holding a diversified portfolio of investments rather than relying on any one asset class for returns is usually a wise approach.   So says the Investment Association.

It is no wonder the popularity of multi-asset funds is soaring, they say, with trade body, the Investment Association, reporting its Mixed Asset sectors have been taking in significant inflows.

We’ve been following this formula for many years now and we are pleased that our views are receiving the approval of the IA.

And one other thing to remember, particularly in times of volatility;  “It’s not the timing of the market, it’s the time in the market!

‘Forgotten’ funds to be released by banks/building societies –

An estimated £300m in forgotten and unclaimed money is to be released by banks and building societies in order to support disadvantaged people and those trapped in spiral debt.

The money will be sourced from unclaimed bank accounts which have no owner or have been left ‘forgotten’.

An estimated £2bn is currently sitting in these accounts – £330 million of which the government plans to donate to charity.

Minister for Sport and Civil Society Tracey Crouch said: “By unlocking millions of pounds from dormant accounts for a range of good causes, we can make a real difference to lives and communities across the country.”

No mention of what is happening to the rest!