According to new research by Interactive Investor, nearly one in three people are dipping into their savings or pensions earlier than planned in order to cover household expenses. The rising cost of living is cited as the most pressing financial concern for over half of adults, closely followed by the fear of running out of …
Pensioners Brace for Disappointment as Officials Consider Adjusting Triple Lock Calculations In a potential blow to pensioners, the expected £902 annual increase they were anticipating from April next year may not materialize. Whitehall officials are contemplating tweaking the figures used to calculate the state pension boost. The “triple lock” pledge currently guarantees a rise in …
Investment platform, Interactive Investor, is set to launch a new pension product in the coming weeks that aims to offer great value for savers with small balances. The new pension, called Pension Essentials, will be a self-invested personal pension (Sipp) that allows customers to save up to £50,000 for a monthly fee of £5.99. In …
Age UK Warns that Cutting Back on Food Can Lead to Hunger in Financial Emergencies Age UK has revealed that nearly 1 in 3 adults aged 60 and above have reduced their food consumption to make ends meet during financial emergencies. According to the charity, food and non-alcoholic drinks take up a larger portion of …
Looking for the perfect retirement location in the UK? Look no further! In a surprising twist, regions such as the Outer Hebrides, Exeter, and Kirklees have been identified as the top places to retire according to a new ranking system. Consumer group Which? compiled a list of the 12 best places to spend your golden …
Thousands of British expats may lose a significant portion of their pension due to “misleading” advice from the UK government, according to financial consultants cited by The Mail on Sunday. Many pensioners are already out of pocket after believing the Department for Work and Pensions-sponsored Money Helper-Pension Wise guide, which stated that they could withdraw …
Millions of Savers Face Retirement Financial Shock with Insufficient Pension Savings Alarming research reveals that nearly half of individuals over the age of 55 have less than £50,000 saved in their pension, leaving millions of savers vulnerable to financial instability in retirement. A report by stockbroker Interactive Investor, seen by Money Mail, highlights the extent …
Young Workers Could Receive a £120,000 Boost to Their Pension Pot Under new automatic enrolment rules that passed into law today, young workers may receive a substantial boost to their pension pot by the time they reach retirement age. These changes aim to expand pension auto enrolment to cover more lower earners and young workers …
How to Reduce Inheritance Tax: Avoid These Costly Mistakes As inheritance tax receipts reach a staggering £7.1 billion annually, many families are seeking ways to minimize their tax burden. From making gifts during your lifetime to setting up trusts, there are legitimate strategies to pass down wealth without incurring hefty taxes. However, it is crucial …
Pensioners Issue Warning to Rishi Sunak and Sir Keir Starmer Ahead of General Election Pensioners across the UK are raising concerns to Prime Minister Rishi Sunak and Opposition Leader Sir Keir Starmer as the country gears up for the next General Election. Their warning comes after Sunak refused to guarantee the protection of the triple …