Pension Loans

Category: Uncategorized

  • FCA Tells Landlords, Don’t Give Pension and Loan Advice

    The Financial Conduct Authority (FCA), which is a bit like the school principal for financial businesses in the UK, has told landlords: “Hey, don’t give advice about loans and pensions to people who are trying to buy a part of a house (this is known as ‘shared ownership’).” Why is the FCA saying this? While…

  • Half of Savers Think They Can Never Afford to Retire

    A new study has found that over half of people saving into pensions in the UK believe they will never save enough money to retire comfortably. The research also revealed that homeowners, many of whom are contending with high mortgage costs and other household bills, had similar concerns about retirement. The study by the Living…

  • How Much Will My State Pension Be?

    The state pension in the UK is set to increase by more than 10% in April 2023, thanks to the triple lock system. This system ensures that the state pension rises each year in line with one of three factors: average earnings, inflation measured by the consumer price index, or a minimum of 2.5%. The…

  • Students Could Still be Paying for Their Loans in Retirement

    PensionBee, an online pension company, has shared some news about student loans. They say students starting university this year could still be paying back their student loans when they’re old and retired! This is due to the introduction of the new ‘Plan 5’ loan, which means that any remaining debt will not be written off…

  • Pension Scam Warnings and How to Stay Safe

    Yourmoney has an article outlining seven signs to look out for to prevent pension scams and keep your savings safe. Overview: Warning Signs: Protection Measures: Reporting:

  • State Pension: poor Government record-keeping could hit thousands of workers

    Some government computer systems from the 80s and 90s were not talking to each other properly. Because of this, up to 50,000 people, mostly women, might end up getting less money when they retire, even if they deserve more. Who’s Raising the Alarm? Steve Webb, who used to be the Pensions Minister, is warning about…

  • State Pension to Rise Next Year?

    The UK government is considering giving a big boost to the state pension next year. This means that if you’re receiving a state pension or will in the future, you could see more money in your pocket. They’re thinking of an 8.2% increase, making it close to £11,500 a year, or about £220 a week.…

  • Putting Pension into Buy To Let – Take Advice First

    Experts agree that if you’re thinking about putting your pension into Buy-to-Let property, you should take advice first – the tax implications could change your mind! 1. The Main Point This article says that people who are thinking about using their pension money to buy property to rent out (known as “Buy to Let” or…

  • The 33% Tax Risk in Using Pensions for Buy-to-Let (BTL) Property

    There’s a new warning for people thinking of using their pensions to buy Buy-to-Let properties. The Warning: Royal London, a big financial company, says, “Hang on a minute!” If you do this, you might end up with a hefty tax bill. Here’s why: A Deeper Look at the Numbers: Depending on how much you have…

  • Covid-19 Crisis Sparks Worrisome Wave of Early Pension Withdrawals

    The economic impact of the coronavirus pandemic is far-reaching, causing individuals across the UK to experience unprecedented financial strain. For some, this strain seems so overwhelming they’re looking to take drastic measures by tapping into resources earmarked for their future – their pension pots. Soaring Numbers of Early Pension Withdrawal Requests UK savers, caught in…