Tony Hazell  

Later life lending is not fit for purpose

Tony Hazell

Tony Hazell

Is it the strength of financial advice? Are men more willing to engage with financial advisers, the majority of whom are men?

Is financial advice biased towards finding a better outcome for men?

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Does the pension tax system, which offers greater rewards for higher rate taxpayers, lead to more money going into men’s pensions?  Women make up just a quarter of higher rate taxpayers – and have done so for the past six years.

Several studies have suggested that when it comes to investing women are, in general, more risk averse than men. However, these studies may not be reliable as it has also been suggested that only those with interesting outcomes are actually published.

Prudential and others should conduct more research into this subject because, while the fact that women are still retiring on smaller incomes is interesting, what we really want to understand is why and what can be done to address the situation.

Inheritance tax

The news that inheritance tax receipts exceeded £5bn for the first time in the 12 months to the end of May illustrates what a big income source IHT has become for the government.

No wonder Jeremy Corbyn has his eyes on property and would like to row back on higher housing allowances.

All those pensioners who stayed at home in protest at prime minister Theresa May’s planned social care and winter fuel allowance changes might wish to consider this if we are forced to the ballot boxes again in a couple of years' time.

Tony Hazell writes for the Daily Mail's Money Mail section