Self-employed pensions: Auto enrolment won’t catch everyone

Self-employed pensions Auto enrolment won’t catch everyoneAutomatic enrolment began in 2012 and the phase-in period for employers of all sizes is due to end in early 2018. But 4.8 million self-employed people have been left out. HM Revenue & Customs (HMRC) reports that the number of self-employed Britons who actively pay into a personal pension pot has fallen from 950,000 to just 350,000 between the 2006/07 and 2015/16 tax years. This means that 4.4 million people are either using an alternative saving method, or, more likely, failing to ...

Student loans: What’s changing and how will it affect students?

Student loans What’s changing and how will it affect studentsTwo big tuition fee changes have been announced. But what do they mean for students? Changes to tuition fees will affect young adults in your family; whether yourself, children or grandchildren. Opening the 2017 Conservative Conference, Prime Minister Theresa May announced plans to freeze tuition fees at the current limit of £9,250 per year. In perhaps bigger news, she also pledged that the minimum annual income needed to begin repaying student loans would rise to £25,000 per year, an increase of £4,000 on ...

Number of insured women falls by almost 40% in 12 months

Number of insured women falls by almost 40% in 12 monthsThere has been a drastic change in the number of women with financial protection such as Critical Illness Cover, Life Insurance and Income Protection. A decline of 37% means that almost two thirds of households are at financial risk. 49% of women said they had taken either Critical Illness Cover, Life Insurance or Income Protection in a 2016 study by Aegon. 12 months later and new research from Scottish Widows shows that: 31% have Life Insurance 7% have Critical Illness Cover Further ...

Think of the children: over-50s reduce personal spending to leave a legacy behind

Think of the children over-50s reduce personal spending to leave a legacy behindA self-imposed need to leave a legacy to loved ones could be causing over-50s to avoid spending money on themselves. This is despite most adults expressing a preference for their parents to enjoy their retirement, even if that means eating into savings and future inheritances. By the numbers Research from Saga Money shows that 80% of parents are actively concerned about the amount they will be able to leave for their children when they die Approximately half of those who ...