Retirement: Annuity rates drop following Brexit decision

Brexit exit emergencyAs the political fallout from Brexit continues with almost daily resignations, the effects on your personal finances are starting to filter through. One of the key groups who will feel an almost immediate effect are those people approaching retirement. Decision time As you get nearer to retirement a number of decisions need to be made, perhaps the most pressing is how to turn your pension pot into an income. Despite the introduction of Pension Freedom in April 2015, using an Annuity, which provides a guaranteed income for the rest of your ...

Savings: Brexit to trigger nightmare scenario?

frightened couple at homeSince the EU Referendum result was announced, much of the focus has been on the reaction of the world’s stock markets. So far, despite a brief period immediately following the vote to leave the EU, the markets have been relatively benign. However, the effect on savers of the decision to leave has received less attention, but there are worrying signs that this group of people could suffer as a result in the months and years to come. Existing problems Since the financial crisis of 2008, savers have had to put ...

Help to Buy ISAs proving popular

My Savings for a New HouseNew figures have shown that thousands of first time buyers have opened Help to Buy ISAs over the past six months, as they try and build a large enough deposit to get onto the housing ladder. The Help to Buy ISA was launched last December and allows potential first time buyers to receive a bonus of 25% if they money saved is used to buy a home; for example, if £200 is saved, a £50 bonus will be payable. The bonus is capped at £3,000, however for ...

Brexit: Keep calm and carry on

exit from the eurozoneIt’s true to say that, whichever way you voted, In or Out, most of us were surprised by the EU referendum result, especially after the final opinion polls (as well as the bookmakers) suggested that Remain would be victorious. However, the reality was of course a victory for the Leave campaign. A few days later, as politicians try to navigate unchartered waters, Sterling weakens and stock markets fall, you can be forgiven if your thoughts turn your own personal finances. The next few weeks will be characterised by a ...