Early pension exit fees capped

The Financial Conduct Authority (FCA) will be given the power to cap “excessive” early exit fees on pension pots. The new FCA responsibility will be introduced through legislation and the government will be publishing a formal response. The proposals will see the FCA being independently responsible for determining what the level of the cap on[…]

New state pension: a guide

The new state pension comes into effect from 6 April 2016 but research has found that many savers don’t understand the changes. A survey by Aviva found that: 24% are unaware of the flat rate pension 42% of 55-64 year olds aren’t sure if they’ll receive it 57% know that the state pension age is[…]

Retirement planning

An introduction to using your resources to ensure you get the retirement you want. What do you want your life to be like when you pass retirement age? Are you looking forward to the end of your working life as a time to take on new projects or to simply relax after 40 plus years[…]

Consumer confidence rises despite uncertainty over economy

People feel more confident about their personal finances but still have concerns about the state of the economy. According to GFK’s consumer confidence index, most people report a rise in confidence in the past year with forecasts predicting further growth in the next 12 months. However, expectations for the economy have decreased over the last[…]

Minimising inheritance tax

A guide to changes to the inheritance tax nil-rate band and strategies to reduce your liability. We all like to think that our nearest and dearest will lament our passing with fond memories. It would be sad to think that after the initial period of mourning has passed, kind words turn to bewilderment when your[…]

Pension scams put savings at risk

Over-55s are the targets of repeated cold-calling and email scams offering fake pension opportunities. 5 months after the introduction of the new pension  freedoms, 40% of Citizens Advice pension staff have come  into contact with people affected by pension scams. Around  10% have seen people fall victim to scams.  Of those contacted by scammers, 80%[…]