Retirement: Are Annuities dead?

exitusWhen George Osborne announced Pension Freedom some two years ago, many people predicted the end of the Annuity, suggesting that the new found freedoms would make the traditional way of turning a pension pot into an income obsolete. So, one year on from the start of Pension Freedom, has the humble Annuity died the death that so many predicted? New research from Retirement Advantage helps us answer the question, but before we look at that in more detail, it is worth quickly reminding ourselves how an Annuity works. Annuities – the basics In simple ...

Retirement: Workplace pensions better than Lifetime ISAs

Walking direction on asphaltHow should you save for your retirement? An influential Government minister believes that workplace pensions are a better option than the new Lifetime ISA, and we agree! Lifetime ISAs were announced in the Budget earlier this year and will be available from April 2017 to anyone under the age of 40. Savings will attract a Government ‘bonus’ of £1 for every £4 saved and the money accumulated can be used to help meet the cost the deposit for first time buyers or retirement. When money is withdrawn, providing it is ...

The London Marathon, how did Bev do?

Bev marathon 2 150pxWe are thrilled to let you know our Managing Director, Bev Stoves, completed the Virgin London Marathon on 24 April 2016. So, how was it? Apart from getting married and having children, it was definitely up there as one of the best days ever! The camaraderie and friendship between runners from getting on the Tube, queuing for the loos to going over the start line and the finish line was amazing. I started with all the charity runners and it was fabulous to hear so many wonderful stories about ...

Savings: Cash ISA v ‘traditional’ savings account, how do rates compare?

Road sign blue with words Tax FreeThe new Personal Savings Allowance (PSA) now means that many savers won’t pay any tax whatsoever on the interest from their savings. Under the new rules, introduced from 6th April 2016, basic rate (20%) taxpayers will be able to receive up to £1,000 in interest each year, tax-free. For higher rate (40%) taxpayers this drops to £500. So, following this change, how do the interest rates on ‘traditional’ savings accounts and Cash ISAs (Individual Savings Accounts) compare? Let’s take a look: Instant access accounts Best Cash ISA: Punjab ...