Annuities fall in popularity, but could they still be the right choice?

Annuities have undoubtedly fallen out of favour among new retirees, as 75% fewer people are choosing to buy one when they retire, since 2015’s Pension Freedoms reform. (Source: Association of British Insurers ABI) But is that truly because the new options are better? Not according to reviews from the Financial Conduct Authority (FCA), who believe this drop could be due to the marketing of pension products, rather than individual suitability. What do Annuities offer? Naturally, Annuities are more suitable for some people than others, and whether you ...

Power of Attorney: Five steps to put your future decisions into the right hands

What happens if you are unable to make decisions about your care, finances and health? It can be a scary thing to think about, but by planning now, you will benefit from increased confidence and the knowledge that those issues are in trusted hands, should the time come. That’s where Lifetime Power of Attorney (LPA) comes in. LPA gives the people or person named, the power, to make decisions on your behalf, in situations where you are unable to make them yourself. This could be due to mental or physical incapacity. Setting up ...

Fed up of low interest rates? Make your money work for you

Where do you keep your money? In a savings account, ISA or maybe in a box under your bed? No matter where you keep your savings, if the interest rate is below inflation (which almost all of them currently are) then the buying power of your savings will gradually decrease. Your savings are losing value. Why interest rates matter 65% of UK adults do not know the definition of an interest rate, according to research from Money Supermarket. Meanwhile, 57% do not know the current Bank of England (BoE) base rate ...

NS&I slash interest rates for Guaranteed Growth and Income Bonds

Just three months after launching Guaranteed Growth and Income Bonds, National Savings and Investments (NS&I) have announced that new savers will now see lower interest rates. Who are NS&I? NS&I have offered financial products for over 150 years. They are a popular provider, with over 25 million customers investing more than £147 billion. NS&I are backed by the Government, and as such, customers benefit from a 100% guarantee on their savings, while other banks and building societies are covered by the Financial Services ...