Pensions: Does the Autumn Statement have a sting in its’ tail?

Large black scorpion Heterometrus laoticus isolatedLast week’s Autumn Statement was, by the standards set by George Osborne, pretty mundane. However, hidden in the speech, and the raft of documents issued by the Treasury afterwards, were subtle indications of where Government pension policy may head over the next few years. The changes, if they happen, could have a significant impact on your retirement and potentially cost you dearly. Triple lock The triple lock was introduced in 2010 and guarantees that the basic State Pension will rise in line with earnings, inflation, as measured by the ...

Savings: A new inflation beating account for savers?

SavingOver the past few months, interest rates on savings accounts have fallen to record low levels and with inflation rates predicted to increase, savers can be forgiven for feeling pessimistic. However, has the Autumn Statement brought some much needed relief to beleaguered savers? Details are sketchy, but the answer may be “yes”, all be it in a very limited way. A new NS&I bond In his first, and as it turns out last, Autumn Statement, Philip Hammond announced that National Savings & Investments (NS&I) would launch a new bond in 2017. Mr Hammond said that ...

Pensions: Women unable to plan for retirement as effectively as men

Silver sex symbolsNew research has shown that the gap between the ability of men and women to save for their retirement is getting wider. The latest Scottish Widows Women & Retirement Report revealed that: 52% of women are now saving adequately for their retirement, compared to 60% of men Only 42% of divorced women are able to save adequately for retirement The number of self-employed woman has risen by 22% over the past four years, however only 36% are able to save enough money for their retirement The gender gap widens The report ...

Autumn Statement 2016: Winners and losers

Investment Sense Verdict_istock Every Autumn Statement and Budget speech leaves some of us better off, whilst others won’t be so impressed with the changes announced by the Chancellor. Here’s our initial take on who are the main winners and losers after Philip Hammond’s first, and indeed last, Autumn Statement. Budget 2014: WinnersWinners Tenants (possibly) Mr Hammond announced that letting agents will no longer be able to charge fees to tenants for renting a property. On the face ...