General Election 2017: How will it affect your personal finances?

The answer to that question depends on two things; the outcome of the election and how you react to the inevitable instability it will cause. At this early stage, the most likely outcome seems to be a Conservative victory, with an increased majority. At least that’s what a certain Mrs May, of Number 10 Downing Street, has gambled on. Logically, if this is the case, Mrs May, and the Chancellor Philip Hammond, will be emboldened to drive through changes to domestic policy, whilst negotiating Brexit. Of course, even if it looks unlikely right ...

Report recommends State Pension age to rise to 68 earlier than scheduled

A new report has recommended the age that you can start receiving the State Pension should be increased faster than currently scheduled. The in-depth review, conducted by John Cridland, concluded that the State Pension age should be changed to 68 by 2039; seven years earlier than currently planned. The review ran alongside a study conducted by the Government Actuary’s Department (GAD) which estimated that the State Pension age could rise to 70 by 2054. Mr Cridland, former Director General of the Confederation of British Industry (CBI), raised several key points. Titled The ...

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 ...