State Pension Age to increase earlier than planned

The Government has announced a change in its plans for the State Pension Age, delaying it by a year for six million people. The plans will increase the State Pension Age to 68 for people currently aged between 39 and 47. The change will be phased in between 2037 and 2039, seven years early that had previously been proposed. The Government believes the change will reduce the cost of the State Pension by £74 billion by 2045/46. In an announcement today, David Gauke, the Secretary of State for Work and Pensions, confirmed that ...

Confusion over pension contribution cap resolved

The Government has moved to resolve the confusion over the amount some people can pay into their pension. Although, not everyone will be happy with the news. Announced in the Budget earlier this year, the change proposed a cut in the amount some people could pay in to their pension. Known as the Money Purchase Annual Allowance (MPAA), it caps the amount some people, who have already drawn money from their pension under the new Pension Freedom rules, can subsequently contribute. The Government proposed a cut from £10,000 to just £4,000. However, ...

“Scrap tax changes” – every residential landlord

New research from Paragon Mortgages reveals that most Buy to Let (BTL) landlords want the Government to reverse changes made to the way BTL investments are taxed. It may sound a little obvious, but the Paragon Mortgages PRS Trends report shows that landlords are aware of the changes in the way that BTL will be taxed. In the first quarter of 2017, 88% said that they fully understood the implications of tax relief changes, up from 71% six months prior. The Paragon PRS Trend report surveyed 201 residential landlords, asking what single ...

Fixed bond interest rates rise by 30 per cent since January

Savers who can put their money away for the long term are able to earn 30 per cent more than they would six months ago, according to analysis by Telegraph Money. Those willing to put their money into fixed rate bonds are being rewarded with significantly higher interest rates, with Paragon Bank leading the best buy tables on their: One-year fixed bond Two-year fixed bond Three-year fixed bond Five-year fixed bond With interest rates on fixed savings bonds creeping up over the past few months, predictions of further increases are being made ...