TBA Wealth Management

When it comes to planning for later life, one of the biggest misconceptions is that all care is funded by the NHS.

In reality, social care and NHS care are assessed differently. While local authority support is often means tested, some people with complex, ongoing health needs may be eligible for NHS Continuing Healthcare (CHC), which is based on an assessment of their care needs rather than their financial circumstances.

Understanding how care funding works before you or a loved one need support can help you plan ahead, avoid unexpected costs and make informed decisions about the future.

Knowing the difference between NHS care, social care and NHS Continuing Healthcare is an important step in making informed choices for yourself and your family.

What happens to an annuity on death isn’t always well understood.

A common misconception is that annuity income will automatically continue to a spouse or family member. In reality, this depends entirely on how the annuity was set up at the outset.

Options such as joint life cover or guarantee periods must be chosen when the annuity is arranged. If they aren’t selected, income can stop immediately on death, and these decisions can’t be changed later.

This is why it’s important to understand the long‑term implications before an annuity is put in place.

HMRC has shared more detail on how inheritance tax will apply to pensions from April 2027.
A key change is that personal representatives will need to take “reasonable steps” to identify any pension schemes that may pay death benefits. This could include reviewing records, checking bank statements and online accounts, and speaking with family, advisers and providers.
It places additional responsibility on families at a difficult time, so keeping records up to date and seeking advice early can make things much easier.

Headlines are loud. Good investing is quiet.
In early May 2026, oil was still elevated, with Brent crude at $109.87 a barrel even after a 4% daily fall, as markets kept watching the Strait of Hormuz, which before the war handled around one-fifth of the world’s oil and gas supply. Yet despite the noise, the S&P 500 rose 0.8% and the Nasdaq around 1% to record closes on the same day.
History matters here too: Morgan Stanley says the S&P 500 has risen 8.4% on average in the 12 months after major external shocks. The lesson? Don’t let short-term fear derail a long-term plan. Stay diversified, stay invested, and stay steady.

Decumulation might sound technical, but it’s really about one simple thing: turning your life savings into the lifestyle you want.
There’s no one-size-fits-all approach when it comes to taking money from your pension. Whether it’s drawdown, annuities, lump sums or a combination the right strategy depends on your goals, needs, and circumstances.
That’s where we come in. We help you make confident, informed decisions so your money works for you in retirement.
Get in touch to talk through your options.

It’s easy to set up a pension and leave it running in the background.

But many people don’t realise what their pension is actually invested in, or whether it still suits their goals and attitude to risk.

Taking a moment to understand your pension investments can help ensure they’re working the way you expect for your future.