Why savers could be mistaken for ignoring Cash ISAs

Why savers could be mistaken for ignoring Cash ISAs Once a firm favourite among savers, new figures from HM Revenue & Customs (HMRC) suggest that the humble Cash ISA is being neglected. As interest rates remain low, the amount of money being paid into Cash ISAs has fallen by a third, despite an all-time high annual allowance of £20,000. With more choice than ever for savers, many are instead opting to store their money in: Stocks & Shares ISAs Traditional savings accounts High interest current accounts The introduction of the Personal Savings Allowance ...

Final Salary pensions: Why are transfer values rising?

retirement transfer values New research, by Xafinity, has shown that Final Salary pension (also known as Defined Benefit pensions) transfer values rose by 3% in August. The rise is predominantly due to a fall in the yield on gilts, which are routinely used to underpin the guarantees provided by Final Salary pensions. The trustees of every Final Salary pension calculate transfer values differently, so not all will be rising at the same pace. However, the general increase, plus new rules, which from 2019 will communicate the value of their Final Salary pension to ...

Retirement: The unexpected reason millions plan to downsize

downsizing The concept of downsizing has been around for years. In fact, research shows that many of us are over-reliant on rising house prices to help fund our retirement. However, a new report from Prudential shows that releasing capital isn’t the main motivation for most downsizers.   The key figures from the research are: 3.9 million: the number of over-55s who to downsize to a smaller home in later life 47%: The percentage of over-55s who plan to downsize £112,000: The average amount of equity that homeowners will release The main reason for downsizing, is usually thought ...

How do NS&I returns compare to the market leaders?

A safe place to keep money means various things for different people. Some prefer banks, whilst others may prefer stashing it under the bed (although that’s not so safe!), but one of the most secure places for your savings comes in the form of National Savings and Investments (NS&I). In its 156-year history, the NS&I has kept the nation’s money safe and sound, whilst funding its public-sector net cash requirement. HM Treasury offers a 100% guarantee on any money held using NS&I products, beating the £85,000 limit covered by the Financial Services ...