Should I stay or should I go? Our favourite places to retire overseas

It was way back in 1981 when The Clash wrote their only number one hit single ’Should I stay or should I go?’ If you queued up in the record shops as a 20-something punk, you are probably now of an age where your thoughts are turning towards your retirement. How time flies! Nearly four decades later though, many would-be retirees are asking themselves the same question, albeit this time, it’s about where they should live in their retirement. In fact, new research has found that 1 in 10 over-50s are considering ...

Not made a will? Here’s the perfect solution

Not made a will? Here's the perfect solutionAre you one of the 51% of people in the UK who have not made a will? If you are, it’s probably on your to do list, and you’ve just not got around to it yet. In November, there’s a solution to this problem coming to a solicitor’s practice near you. Read on and we’ll explain all you need to know. But before we do, here are a few reasons why you should make a will: It’s the best way of confirming how you want your ...

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 ...

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 ...

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 ...

Pension tax relief is safe for now…

In the run up to any budget or General Election, there are always rumours circulating regarding the abolition of pension tax relief. In fact, whenever the Government look to save money, pension tax relief seems to be a likely target. Therefore, many pension savers will be pleased to hear that the threat of cuts to the current system have been publicly neutralised by David Gauke, the Work and Pensions Secretary. Mr Gauke released a statement on the 4th July, saying that he doesn’t expect to see any fundamental changes in the near future. What ...

Surprise ‘triple lock’ U-turn announced as DUP signs deal with Conservatives

The Conservative party has scrapped a manifesto commitment to drop the State Pension ‘triple lock’, along with plans that would have seen the Winter Fuel Payment means-tested in the future. Announced earlier today, the news comes at the same time as a confidence and supply deal, with the Democratic Unionist Party (DUP). The DUP has agreed to back the Conservative Government on key votes. The ‘triple lock’ means the State Pension increases by whichever is the highest out of: The rate of inflation as measured by the Consumer Price Index (CPI) Average ...
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