SIPPs: Consolidation, charges and clarity, a look back over 2016

Straight open road to upcoming 2017 at idyllic sunsetThe Self-Invested Personal Pension market has seen an unprecedented year of change, and we still have two months to go! Three key themes have emerged over the past 10 months; consolidation, charges and clarity. Not all the changes have been positive for consumers, with prices rising and competition falling. Let’s look at all three in more detail. Consolidation – on the rise The year started with Curtis Banks acquiring Suffolk Life in one of the largest ever deals of its type. The pace of consolidation hasn't slowed ...

It’s a tough time to be self-employed

It’s a tough time to be self-employed 150pxAs the ‘on demand’ economy kicks in and more people become self-employed, we might be forgiven for thinking that now is a golden age for those people who work for themselves. However, new research shows this is anything but true. Lower earnings The Resolution Foundation has revealed that average earnings amongst self-employed workers are lower than they were in the mid 1990s. Their research has found that the number of self-employed workers has risen by 45% since 2001 / 2002 but their average weekly earnings has fallen ...

Married couples lose out after failing to claim tax break

feet of bride and groom, wedding shoes (soft focus).New figures show that millions of people are paying too much tax, because they are failing to claim the married couples allowance. HMRC (HM Revenue & Customs) has revealed that only one million married couples have claimed the new allowance, out of the 4.2 million who are eligible. The allowance was introduced in April 2015 and is worth £220 in the current tax-year. How does it work? The system works by allowing either a husband, wife, or civil partner to transfer part of their unused Personal ...

Breast Cancer Awareness Month highlights the need for protection

pink ribbon, symbol of breast cancer awarenessNew research, to coincide with Breast Cancer Awareness Month, shows the importance of women ensuring they are financially protected. Figures from Breast Cancer Care, show that approximately 60,000 women are diagnosed with the disease each year in the UK. That’s the equivalent of one women every 10 minutes. Furthermore, breast cancer is the most common form of the disease with 1 in 8 women contracting it during their life. Improving survival rates Despite the prevalence of the disease, survival rates are improving, with 85% of women living longer than ...