People ‘not engaged’ with pensions may have choices made for them

A Parliamentary committee has proposed a ‘default investment pathway’ for people who don’t make active pension choices at retirement. But should the government be making it easier for people to ignore their most important retirement decisions? Many people are currently receiving poor value from their pension products, according to a report by the Work and … Continue reading “People ‘not engaged’ with pensions may have choices made for them”

What this lottery winner can teach you about your pension

A teenager wins a fortune with her first ever lottery scratch card, and must make a life-changing choice. But anyone saving up a pension pot may face a similarly big decision. What would YOU do? If someone offered you a million pounds now, or a thousand pounds a week for the rest of your life, … Continue reading “What this lottery winner can teach you about your pension”

How long should you fix your mortgage for?

Most new mortgages are fixed deals as home buyers try to beat potential interest rate rises – and there’s been an increase in how long people are fixing for. Nearly half (48%) of new mortgages were for fixes of longer than five years in the most recent figures analysed by mortgage provider Paragon. This is … Continue reading “How long should you fix your mortgage for?”

Cost of divorce following couples into retirement

People who divorce may face an ongoing financial hit from it throughout their retirement, according to new research by Prudential. Younger divorcees and women especially are making potentially very costly mistakes by under-valuing their pensions. The financial impact faced by divorcees in retirement works out at nearly £4,000 a year, research by Prudential has found. In … Continue reading “Cost of divorce following couples into retirement”

Gig economy hides gigantic pension problem

Nearly half of the UK’s self-employed workers may have to rely on just the State Pension in retirement – which a recent report has found to be the ‘least generous’ in the developed world. As the gig economy grows, a potential pensions time bomb is growing with it. How much do you have in private … Continue reading “Gig economy hides gigantic pension problem”

Pension providers to warn over drawdown

If you access your pension via a drawdown scheme, your provider may soon recommend an ‘upper limit’ on the income you take. The new measures are intended to protect pensioners against using up their savings too fast, as many are still in the dark as to the underlying risks of drawdown schemes. Some of the … Continue reading “Pension providers to warn over drawdown”

Do you have the mortgage of Damocles?

Some borrowers are living with a sword hanging over their heads: a mortgage they have little or no hope of repaying. One possible answer is the “lifetime mortgage” – but it’s hardly ideal. What is an interest-only mortgage?  It’s one where only the interest is paid off each month, so the full amount must be repaid … Continue reading “Do you have the mortgage of Damocles?”

From Truffle Trees to Time Shares – Pension Fraud is Very Real

For the first time ever, the High Court has ordered the perpetrators of pension scams to repay the money they took from their victims. Four individuals, who between them ran 11 separate pension scams, must now pay back the £13.7 million they took from pensioners by dishonest means. According to the BBC, as many as 245 … Continue reading “From Truffle Trees to Time Shares – Pension Fraud is Very Real”

Does your Portfolio need a New Year makeover?

If it’s been a while since you looked at your investment portfolio, now could be a good time to stage a review. A regular assessment of your investments will help ensure that you know whether they are on track to meet your financial objectives. The New Year presents the perfect opportunity to take stock. It’s … Continue reading “Does your Portfolio need a New Year makeover?”