Savings: FSCS calms fears in the UK after Cyprus bailout

FSCS calms fears in the UK after Cyprus bailoutA levy to be forced on savers in Cyprus, as part of the EU bailout of the country, has caused alarm amongst savers throughout Europe. However, in the UK at least, moves have been made to reassure savers that their savings accounts will not be raided in the same way. Savings levy The EU has agreed to a 10 billion Euro bailout of the Cypriot economy, but as part of the measures all bank ...

Annuities: Buying an Annuity soon? 7 mistakes to avoid

iStock_000012131139XSmallEvery day we deal with new enquiries from people approaching retirement and wanting to take an income from their pension. We’ve got a huge amount of experience helping people arrange their Annuity purchase, as well as advising them on other retirement options, and we are seeing the same mistakes being made time after time. We thought we’d put together a quick guide, showing you the seven most common mistakes people make when buying an Annuity and how to avoid them. 1.    Not shopping around ...

Retirement: Annuity rates drop in June, how low will they go?

Retirement: Annuity rates drop in June, how low will they go?Our research has shown that Annuity rates have dropped for a third month in a row. Last month our benchmark Annuity rate dropped by a further 1%, on top of a sharp fall in May of over 3.5%. For the second month in a row Legal & General are the most competitive provider, with Aegon propping up the table, offering the lowest Annuity rate, down nearly 6% on the month before...

No change to interest rates, no further Quantitative Easing

The Bank of England have left interest rates on hold and decided against extending the existing £325 billion program of Quantitative Easing (QE). Despite the International Monetary Fund (IMF) calling for a cut in UK interest rates the decision to leave rates at 0.5% was hardly a surprise. ‘Wait & see’ The IMF also suggested that the Bank should extend the program of QE and some observers had predicted that this advice would be followed. However it seems that the Bank has decided to adopt a ‘wait and see’, monitoring both inflation and the wider economy, before making their next move. At least one ...