The three groups that will be hit by the new inflation high

Inflation. It is enough to fill anybody with dread. Money only stretches so far, and it is even harder to stretch a pound when it is only worth 97.7 pence. Well, that is the reality after inflation was recently announced to have exceeded the Bank of England’s 2% target to a level of 2.3%. The Office for National Statistics released a bulletin on the 21st of March, revealing inflation to be much higher than previously thought. This news has come as a surprise to many, and will affect three groups of ...

Over 50% of women haven’t started saving for retirement

Over 50% of women haven't started saving for retirement56% of woman haven’t started saving for the future, research conducted by YouGov has recently shown.  The study, commissioned by Scalable Capital as part of their Women’s Initiative, also suggested that 44% of men and women in the UK are concerned about not having enough money for a comfortable retirement. Are women the only ones who aren’t saving? Whilst the survey was intended to research the ways in which British and German women are, or are not saving for their retirement, it also gave an ...

Married? Are you missing out on a tax-break?

Married? Are you missing out on a tax-break?Are you married or in a civil partnership? You could be entitled to a £432 tax break thanks to the Marriage Allowance. HMRC estimates that around 4.2 million couples are eligible to reduce their tax payments thanks to this allowance, which was introduced last year. However, only a million people have claimed it so far. Are you one of the three million people missing out? Are you eligible to claim? Marriage allowance was launched on the 6th April 2016. It is aimed at couples where one partner ...

Don’t miss the deadline to boost your State Pension

The Government has offered up to 12 million Pensioners the chance to convert a lump sum into a guaranteed income for life, on terms significantly better than those available on the open market. The scheme is available to people who retired on the old basic State Pension of around £120 per week, and who therefore miss out on the higher, flat rate pension, of £155.65, introduced in 2016. But time is running out as the scheme closes on 5th April 2017.   How does the scheme work? To qualify you must be entitled to the State ...

Have you chosen the right way to save for retirement?

Have you chosen the right way to save for retirement?With the State Pension currently worth a maximum of £155.65 a week, making additional provision for your retirement is essential if you want the financial freedom to enjoy your later years. Saving for retirement doesn’t need to be complicated, although it’s always helpful to pose some key questions, for example: How much will you to need to live on? How long do you have to save for retirement? When do you want to retire? How will inflation affect you? Will you qualify ...

Thousands of grandparents miss out on income boost

Thousands of grandparents miss out on income boostLooking after grandchildren is something many people enjoy. But few are aware that it can mean losing a substantial amount from their state pension. The good news is that there is a little-known scheme, which could give them back the thousands of pounds that would otherwise be lost. According to Sir Steve Webb, former Minister of State for Pensions and Liberal Democrat MP, thousands of grandparents who provide childcare, are missing out on National Insurance credits that could boost their state pension. Now Director of ...

Cash ISAs: The super six

Cash ISAs: The super sixInterest rates on Cash ISAs remain historically low, and with current inflation rates, the true value of your savings may fall.  Despite this, and the introduction of the Personal Savings Allowance, which will mean far fewer people pay tax on their savings interest, Cash ISAs are still a popular way to save. Especially for those people who want to avoid the risks associated with stock market investments or, who are saving for short-term needs. As we approach the end of the tax-year, thoughts often turn to making ...

SIPP deposit interest rates fall by up to 69%

SIPP deposit interest rates fall by up to 69%Ever since we launched our website way back in 2010, we’ve been known for publishing a best buy table for SIPP deposit accounts. In fact, seven years on, it’s still the most popular page on our website. Over the years, we’ve seen many changes in the SIPP market. But, falling interest rates and a contraction in the number of banks and building societies offering deposit accounts for SIPPs, have been constant themes. We thought it would be interesting to review the history of interest rates ...

Why have stock markets bounced since the Brexit vote?

The referendum of 23rd June 2016, that began the UK’s journey out of Europe, delivered a seismic shock not just to the UK stock market, but to markets around the world. However, after some frightening rumblings, the economic landslide never happened. There was a marked initial dip, but since then the UK stock market has surged ahead. Why has this happened, and is it all good news? Hours after British citizens voted to ditch the European Union, global stocks took a historic two-day tumble. But not only did they soon stabilise, they have ...

Are you heading for a ‘Toblerone Retirement’?

Are you heading for a ‘Toblerone Retirement’?New research has shone a light on our changing retirement habits, as we struggle with the twin effects of inflation and ‘skrinkflation’. Figures from pension provider, Retirement Advantage, show that: The days of the ‘cliff edge’ retirement, where one day we worked, and the next we didn’t, are long gone for many, with 52% of people age over 50 planning to work part-time in retirement That’s an 11% increase over recent years 30% of people are worried about the cost of living in retirement, whilst ...
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