Savers now have access to a new type of hybrid pension scheme, which could help them improve their retirement returns. New Collective Defined Contribution (CDC) schemes are said to offer a useful “middle ground” between existing Defined Contribution and Defined Benefit schemes. What are the differences between defined contribution and Read more…
The current high levels of inflation are having a wide range of effects on our financial lives, not least on our savings. While many savings accounts are increasing their interest rates as a response to the Bank of England raising the base rate, new research suggests that many financial products Read more…
According to the latest product sales data provided by the Financial Conduct Authority (FCA), there is a growing number of retirees who are not taking advice when purchasing income drawdown and guaranteed income for life products. The analysis, provided by retirement product specialists Just Group, has revealed that 40 per Read more…
The current state of the global economy and rapidly rising inflation in the UK means that many savers are experiencing a period of financial hardship. While some of us may be able to rely on savings or investments, there have been growing calls to change the rules around the taxation Read more…
Thousands of Britons facing a cost-of-living crunch have been withdrawing funds from their Lifetime ISA (LISA) accounts and getting hit with significant penalty charges. According to HM Revenue & Customs (HMRC), a record 77,500 LISA savers were issued over £33 million worth of early withdrawal charges in 2021/22. Early withdrawal Read more…