Your Money

Retirement Planning

Lifetime ISAs will force young people to work ’til they drop, says ex-pensions minister

18 March 2016

Pensions Retirement Retirement Planning Savings Rates

The new ‘lifetime ISA’ could force young people to work until they drop, the former pensions minister has warned.   Steve Webb, who was pensions minister under the Conservative-Lib Dem coalition but now works for insurer Royal London, has criticised lifetime ISAs, which were announced in the Budget this week   Lifetime ISAs, which some […]

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Pension vs Lifetime ISA: “The economic case for the latter is strong”

17 March 2016

Pensions Retirement Retirement Planning

With debate on-going around whether the Lifetime ISA (LISA) will prove popular or lead to the death of pensions, Richard Parkin head of pensions at Fidelity International has crunched some numbers and argues that while time will tell on popularity, the economic case for saving in a LISA, is pretty strong…. Suggestions that the LISA […]

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Equity release sector responds to rising demand with greater choice

14 March 2016

Mortgages & Property Retirement Planning

The equity release market is responding to increasing demand from elderly homeowners looking to unlock cash from their homes with a wider range of products and options, according to new research by Moneyfacts.co.uk The analysis, which focused on the current offerings available in the equity release market, found that there are now 70 different lifetime […]

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City watchdog aims to get “financial advice and guidance to work better for consumers”

14 March 2016

Investing Strategy Personal Finance Retirement Planning

Millions of consumers could have better access to affordable financial advice and guidance that meets their needs at every stage of their lives as a result of recommendations from the Financial Advice Market Review (FAMR) published today. The review, a joint initiative between the Financial Conduct Authority (FCA) and HM Treasury has concluded there is […]

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Budget pension raid: “Don’t crack open the champagne too soon”

7 March 2016

Retirement Planning

Those subject to the higher rates of taxation and most financial advisers were no doubt rejoicing at the weekend, with the news that the Chancellor has apparently scrapped his planned changes to the tax relief on pension contributions. But what does this mean for savers? And more importantly, what else is in store for pensions […]

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Threat to pension tax relief lifted, for now at least

6 March 2016

Pensions And SIPPs Retirement Planning

The threat to pension tax relief in the next budget has been removed at least for now by the Chancellor of the Exchequer George Osborne. National newspapers have widely reported an ‘ally of the Chancellor’ saying: “Now isn’t the right time, with uncertainty in the global economy and reforms such as auto-enrolment still bedding in, […]

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Auto-enrolment savers given false sense of security over pensions

4 March 2016

Retirement Planning

Auto-enrolment is giving savers a false sense of security about their retirement when in reality they still aren’t saving enough into their pensions.   Portal Financial has warned auto-enrolment, which was introduced in 2012, is not preparing savers for a comfortable retirement and that contribution levels must increase.   Auto-enrolment aims to get as a […]

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Pension minister at odds with chancellor over pension-ISA plan

4 March 2016

Retirement Planning Trending News

The pensions minister has raised concern over chancellor George Osborne’s plan to replace pensions with pension-ISAs.   Ros Altmann (pictured) has backed the retention of the existing system, where contributions are exempt from tax, growth within the pensions is exempt and withdrawals are taxed at retirement – known as the exempt, exempt, taxed (EET) arrangement. […]

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Women far smarter than men when it comes to everyday finances says new study

3 March 2016

Investing Strategy Personal Finance Retirement Planning

Women are far savvier than men when it comes to their everyday finances, new research from BlackRock’s has concluded. The asset manager’s Investor Pulse survey found that nearly half of women, at 47%, treat saving money as a financial priority compared with 42% of men. They are also more likely to be concerned with day […]

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“Should we be so shocked in the rise of pension age?”

3 March 2016

Retirement Planning

As the Government announces a review of the state pension age, Jason Hollands, managing director of Tilney Bestinvest, questions whether we should be surprised by this move… The Government review into the State Pension Age, to be chaired by Sir John Cridland, has certainly set the cat amongst the pigeons with a potential shake-up meaning […]

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