New account launched by National Savings & Investments

After being announced in last year’s budget, the new National Savings & Investments (NS&I) Investment Guaranteed Growth Bond has finally been launched. The bond is a fixed rate product, offering 2.2% gross/AER. The Treasury announced it in November 2016 as a ‘market leading’ savings bond, but whilst it does offer the highest interest rate, it arrives at a time when inflation is high and expected to rise. What exactly is it? Contrary to what the name suggests, the new NS&I bond isn’t an investment product, but a savings bond with no element of ...

How should you use the new lifetime ISA?

They say that an ISA is for life, not just for Christmas. Or is that a dog? Regardless, that’s the case for the new Lifetime ISA. The Lifetime ISA (shortened to LISA in this article for your own sanity) will be launched on the 6th of April 2017. It is a saving scheme that will be partially funded by the Government, and this article will delve deep into exactly how it can be used: First house purchase? Retirement? Both? So, who or what exactly is LISA? The LISA is the latest addition to the ...

Savings: Compensation limit set to rise

Compensation limit set to riseFrom next week, savers will receive a boost to the level of protection they get if their bank or building society goes bust. Currently, the Financial Services Compensation Scheme (FSCS) protects up to £75,000 of savings per person, per institution. However, this will rise to £85,000 from 30th January. The limit is changing because of the falling pound, with the value of protection pegged broadly to 100,000 Euros. The new level of protection means that savers can deposit an additional £10,000 with each institution and be guaranteed to ...

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 ...