January 2023 | Fair Point | abrdn Financial Fairness Trust Newsletter

04 January 2023

New Year, New Grants

We are already four days into January, which means there’s just over a month to go until our next funding deadline. If you have an idea for a research, campaign or policy project which will help people on low-to-middle incomes and needs funding, have a read of our blog by Programme Manager, Vivienne Jackson, on what to expect during the application process or and get in touch. The deadline is 1pm on 6th February.

We have lots of exciting projects we’re looking forward to this year. There’s one in particular that we need your help with; the Institute for Employment Studies has launched a commission on the future of employment support. The commission is keen to involve everyone with an interest in employment support and learn about what works. You can submit your views here. You can also find out more about the commission here.

Project in focus

Last month we published the latest report from our regular tracker series, which has been monitoring the impact of the cost-of-living crisis on household finances. It found 10 million UK households lack confidence in their financial outlook over the next three months. This time last year, that figure stood at 5.6 million households, meaning 35% of all UK households now lack confidence in their financial futures. In addition, nearly 11 million told us they feel like they have no control over their financial situation.

Read the press releaseRead the full report.

What’s new?

Death and Taxes and Pensions

Last month we supported new research from the IFS on pension taxation. It found keeping savings in a pension can be a highly effective way of avoiding inheritance tax and income tax and called for loopholes to be swiftly closed.

The IFS have suggested policy solutions which would ensure those who are wealthy enough to pass on large amounts do so fairly. Take a look.

Latest podcast - pensions

Talking of pensions, our latest podcast features Felicia Odamtten from Resolution Foundation and Steve Webb, former Minister for Pensions, who discuss how to avoid being poor in retirement. It’s jam-packed with issues: potential ways to make sure people are saving enough for the future; how the triple-lock came about; the benefits of auto-enrolment but the need for further action; pension freedoms – and much more.

Listen here or wherever you get your podcasts.

Upcoming event

Assessing government incentives to put money aside

What is the state of British peoples’ savings? How many different ways does government try to incentivise households to save? Who benefits from those policies? And how can policy better support people to save for a rainy day?

To mark the launch of new research exploring government incentives for saving in the UK, in partnership with the Resolution Foundation, this hybrid event will debate and answer these questions. Following a presentation of the report’s key highlights, we will hear from leading experts on what policymakers can do to enable people to save more, especially those on the lowest incomes.

The event will be open for people to physically attend, alongside being broadcast via YouTube and the Resolution Foundation website.

Mon, 16 Jan 2023 09:30 - 10:45 GMT

Register here