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For Freedom! But With a Dash of Prudence … 

Savers are embracing new UK pension freedoms but also acting with prudence and rationality, according to the latest figures. Since April, when the new rules came into effect, the Association of British Insurers say savers have withdrawn £4.7 billion from their pension pots. £2.5 billion was paid out in 166,700 cash lump sum payments – an average payment […]

Hunting Carney Clues In Interest Rate Guessing Game

Whether you are a saver or borrower you will be well aware that interest rates have been at historic lows – and for much longer than anyone predicted.  So which way will they go next? As Governor of the Bank of England, Mark Carney has the unenviable job of setting UK interest rates alongside the […]

Top-ups Scheme Offers Pension Income Boost

Retirees are being offered a chance to buy inflation-proof, Government backed income as part of a pension top-ups scheme which launched this week. Men aged 65 or older and women aged 63 or older are being offered a chance to increase their State Pension by up to £25 a week, giving them guaranteed extra income […]

Pension Savings – Have You Got The Habit?

There are signs the UK could finally be getting the savings habit with the amount of money being salted away into pensions jumping from £11bn to £15bn per year. While the latest figures from the Department of Work and Pensions (DWP) show that the bulk of the increase has come from auto enrollment, officials say […]

Confused by Pension Freedoms? If in doubt, ask!

Much has been made in the media recently about the new pension freedoms which have been unleashed by the UK Treasury. There have even been reports of 20-year-olds asking when they can ‘cash in’… Like all good stories, the reality of the pension changes introduced is quite a bit different. Yes, people now reaching their […]

Tax changes for property buyers

Both the UK and Scottish Governments have introduced changes to the way tax is levied on house purchase transactions. Doing away with the tiered system where buyers paid a flat rate of tax depending on which bracket the purchase fell into, there is now a ‘progressive’ scale which applies to all purchases. All house buyers will […]

‘Last time buyers’ equity release surge

The number of homeowners looking to release equity from their properties to boost their savings and pension pots is on the increase, according to the latest research. Figures from the bi-annual Prudential Downsizing Index reveal that 41% of homeowners over the age of 55 plan to sell their current property, with 75% of those saying they […]

Self-employed facing pensions timebomb

The UK’s ever growing army of self-employed workers are walking into a pensions nightmare if they don’t take action to address the problems soon, according to the Daily Telegraph. Recent figures from the Office for Budget Responsibility show there are now 4.5 million UK individuals who are self-employed, with the number growing rapidly in the years following […]

Adult kids could cost you dearly in retirement

Having grown-up children living at home could cost you dearly in terms of your planning for retirement, according to a study. The recent recession and the ever-growing gulf between house prices and salaries means that adult children are increasingly having to stay with mum and dad while they save up a deposit. And a survey […]

Average family life goals cost almost £1m

The average cost of funding typical life goals including getting married, buying a home, having children and retirement is £877,000, according to a report. The Lloyds Bank Family Savings report found that, while things like getting married cost in the region of £12,000, this pales into insignificance when compared with buying a house (£175,000 on […]