Pensions: 5 things to think about before transferring your Defined Benefit pension

open hand on sky backgroundPension Freedom has opened up many more possibilities for people as they approach retirement, including the option to transfer out of their Final Salary pension. Before we go any further we should point out that Defined Benefit pensions are also referred to as Final Salary schemes or maybe CARE (Career Average Revalued Earnings) schemes, however, for the sake of simplicity we shall only refer to them as Defined Benefit pensions in this article. It’s probably still true to say that, for those people who have them, Defined Benefit ...

Savings: Rates fall further as the drought continues for savers

desert with wet place on itAs if savers needed any confirmation, new research has shown that interest rates are still falling. What’s more, there is no end in sight to the drought, which has seen hard pressed savers endure an unprecedented period of low interest rates. New research from Moneyfacts, shows that over the past 18 months’, savers have seen 883 cuts to interest rates on all savings account, compared to just 188 rises. The one bit of good news for savers is that inflation remains relatively low; 1.3% (Retail Price Index) ...

Pensions: New service launched to help track down lost pensions

The words LOST & FOUND written in vintage letterpress type The Government has launched a new website to help people track down old workplace and personal pensions, which they may have forgotten about, or lost touch with. It is believed that over £400 million in pensions remains unclaimed and with retirement incomes being squeezed, every pound found will provide valuable income for pensioners. The site has been launched in response to the needs of employees who change jobs more regularly than ever before and a 400% increase in pension tracing requests during the ...

One in four property sales falls through, costing homebuyers thousands

Handshakes with customer after contract signatureNew research has shown that an alarming number of property sales fall through each year, potentially costing homebuyers thousands of pounds in lost fees. The research from LV= Legal Services found that: 27% of property sales in the past five years have fallen through Lawyers holding up the property buying process were to blame for 48% of all purchases which failed to complete, equivalent to 96,000 transactions in 2015 Of the others, 21% of buyers were gazumped and in 15% of cases the buyer pulled out ...