What would further interest rate rises mean for you?

Following last year’s Bank of England (BoE) base rate increase, experts predict as many as four more rises over the next two years. Whilst it is thought that any rises will be gradual, that could still lead to an overall increase of 1%. That might not sound like much, and in the grand scheme of things, it won’t be for the many people who take precautions and protect themselves against it. However, research shows that more than half (57%) of people have no idea what effect further rate rises would ...

The three stages of retiring on your own terms

What age do you picture yourself retiring? Are you looking forward to an early retirement which allows you to spend time with your family and cross off some of the things you’ve always wanted to do? If not, what’s stopping you? According to a report from Scottish Widows, 10 million (20%) of UK adults expect that they will have to work until they are forced to stop due to physical health problems. A further three million (6%) believe that they will not be able to retire at all and ...

Stay-at-home mums missing out on pension equality

According to analysis by Royal London, as many as 50,000 stay-at-home mothers could be missing out on thousands in retirement income, due to changes made to the way Child Benefits work five years ago. What is happening? The change has meant that, in couples where one person earns over £50,000, the other is ineligible for Child Benefits, even if they are a stay-at-home parent. However, for stay-at-home parents, there’s more to Child Benefits than just money; they are also entitled to National Insurance credits, which are required to claim ...

Retirement planning: What matters to you?

Your retirement priorities will be different to the next person’s, but that’s not to say that there aren’t similarities in the things that we’re looking for when we finish working. Research from Scottish Widows has shown that the most-cited priorities for those planning their retirement finances are: Income (41%) Flexibility (40%) Passing on benefits (10%) Having control over investments (9%) Finding out what’s important Knowing what you want when you stop working comes easier to some than others. If you find yourself struggling, consider: What kind of lifestyle you ...