Wealth Management News
Elderly people with savings pay £195 more a week on average for care - 8 August 2018
A new report has identified that those who save for care in later life could pay up £10,000 a year more than those whose bills are met by local councils. The figures, prepared by care analysts LaingBuisson, found that those
Banks called on by FCA to create ‘basic savings rate’ to help savers - 8 August 2018
The Financial Conduct Authority (FCA) has suggested that banks may be required to set a minimum interest rate for some of their savings accounts under new rules it is considering. The new move comes following growing concern that many savers
Pension withdrawals hit £2.3 billion in second quarter - 8 August 2018
New data has shown that pension holders withdrew more than £2.3 billion during the second quarter of 2018 under the pension freedom rules. According to HM Revenue & Customs (HMRC), this was an increase of 35 per cent compared to
Is the Bank of England moving closer to August interest rate rise? - 9 July 2018
The most recent meeting of the Bank of England’s monetary policy committee (MPC) saw a margin of six to three against a rate rise, leading to predictions that the next committee meeting in August could see the base rate increase.
Half of millennials call on the Bank of Mum and Dad for money to fund home purchases – as well as grocery shops - 9 July 2018
With young people in the UK struggling to get on to the property market and often saddled with debt, it is not surprising that new research has revealed that more than half of all adults aged between 21 and 35
New study suggests UK workers have concerns about their retirement savings - 9 July 2018
A new study into the attitudes of workers has found that around 40 per cent of people across Britain are worried about their ability to retire comfortably. The fear is not surprising as 13 per cent of the 950 people
Are you aware of this little-known pension freedoms rule? - 9 July 2018
While most people are aware of pension freedoms, and the ability they give to drawdown on your pension pot early, very few are aware of the benefit they give to your family when a pension is inherited. And neither do
Base rate yet to have a significant effect on savers’ rates - 5 June 2018
The number of accounts paying returns over the base rate has dropped by 77 since the rate rose to 0.5 per cent in November 2017, according to the Moneyfacts UK Savings Trends Treasury Report. In its release the online publication
100,000 defined benefit pension holders transfer out in 2017/18 - 5 June 2018
A Freedom of Information (FOI) request made to The Pensions Regulator (TPR) has revealed that an estimated 100,000 members transferred out of their defined benefit (DB) pension schemes between 1 April 2017 and 31 March 2018. In its response to
Next 18-months will see thousands of interest-only mortgages mature - 5 June 2018
New figures from UK Finance have revealed that nearly 200,000 interest-only mortgages are due to mature over the next year and a half. Over the past six years, the number of homeowners on interest-only mortgages has fallen, with numbers declining
