Category: Uncategorized

The level of total student loan debt in the UK has risen to over £100 billion recently. The outstanding debt has soared up by 16.6% by the end of March 2017, as shown in figures released by the Student Loans Company. Students in England accounted for nearly 90% of that debt. As we have mentioned…

New research shows that millions of UK workers are missing out on “top-ups” that could boost the value of their pension when they come to cash it in. A lot of larger companies will match the amounts their employees pay into their pensions when those employees save more. This could add hundreds or even thousands…

After only 11 months in the job, pension minister Richard Harrington has been replaced by Guy Opperman in the latest cabinet reshuffle. This has prompted claims from some in the pension industry that the speed of changes is like “musical chairs”, with the implication that at a time when factors like the ageing population, increasing…

Consumer complaints about payday loans have risen sharply for a second year, despite new rules which were supposed to improve the industry. In 2017-2017, the Financial Ombudsman Service (FOS) had 10,529 complaints – a huge rise from the 3,216 complaints the year before. This comes at a time when experts are worried about the credit…

It seems likely that a planned increase in the state pension age will be shelved, after the election results forced the government into an alliance with the DUP, who oppose such a rise. In March, the Cridland Independent Review proposed that the age of retirement should be increased to 68 by 2039, rather than by…

People who are releasing money from their pension are using a “£1 trick” to reduce the amount of tax they have to pay. This technique helps to ensure that they are not hit with the emergency tax rate on their withdrawals. Currently, a “quirk” in the tax system means that if you release a lump…

Are you concerned that you are not saving enough for your retirement? Well, one option may be to work longer. On average, working for an extra five years could add £46,000 to your pension – adding about two-thirds extra to an average UK pension pot. That could increase the monthly income you receive in retirement…

An estimated 42% of “millenials” have taken out a payday loan in the past 5 years… but how will that affect their changes of getting approved for a mortgage? It seems some lenders look at different kinds of loans on a person’s credit history in different ways. Your credit history covers the last 6 years…

Helping their children get through university is one of the reasons people may look at pension loans. But for those students whose parents are not helping them out, the debt that has built up by the time they finish their studies can be crippling. One expert is arguing that compound interest is making the debt…

More news on the fears about the potential problems that could be caused by over-enthusiastic lending in the car loans sector. Banks in the USA are reported to be “pulling back” from the market. due to fears that car-buyers may be taking on more debt than they can maintain. A total of nearly $1.2 trillion…