Category: Uncategorized

Are “sub-prime” car loans going to cause a new financial crash, just as sub-prime mortgages triggered the crisis in 2008? That’s the possibility highlighted in an article by The Guardian last week. “Personal contract plans” are booming, and becoming the main way that people fund their new car purchases these days. But experts argue that…

A man who saved for 11 years into his pension has been told it is now worth nothing. The Edinburgh newsagent had put-away £8,740 in the 1990s and early 2000s, but has now been told the entire sum will have been eaten away by “management fees” by the time he reaches the age of 65.…

The Women Against State Pension Inequality (WASPI) movement is campaigning against recent increases in the State Pension Age, which they feel were implemented without giving some women enough warning, and enough time to change their financial planning to accommodate the change. They have now launched a petition to parliament requesting early access to their pensions…

The insurance group, Admiral is planning to branch out and start providing loans later this year. The personal loans will mainly be aimed at people planning to buy a car – an obvious connection with their car insurance business. Insider Media reports – “Chief executive David Stevens has said… “We’ve been running a beta test…

A new warning has been given on the rates that people typically withdraw cash from their pensions. As life-expectancy is increasing, the rates that used to be recommended could now be over-optimistic. Research by pension company Aegon suggests that one in five people risk running out of money in their pension. Morningstar reports – “Aegon…

A new report has shown that, for the first time, UK pensioners’ incomes are higher than those of their younger counterparts. On average, pensioner households are £20 per week better off than working-age households. The results come from a study by the Resolution Foundation for the Intergenerational Commission. Sky News reports – “The As Time…

Higher rate taxpayers in the UK will be given an extra £600 “tax free perk” under a new scheme designed to encourage more people to take financial advice about their retirement. Starting this April, the “Pension Advice Allowance” will mean that savers can get early access to some of their pension (up to a total…

If you’re looking to take out a loan in 2017, The Independent has a “Survival Guide” to help you make sure you get the most appropriate deal for your circumstances. They point out that this may be a good time to take action – “Whatever you need the cash for, a personal loan is often – though…

Could the State Pension Age (SPA) rise to 74 by the 2060s? That is the suggestion considered by former pensions-minister Steve Webb, who is now working for Royal London. He was commenting on projections by the Office of Budgetary Responsibility (OBR), which include that possibility as one of their scenarios. The Actuarial Post website reports…

“Why can’t I cash in my £10,000 pension?” is the question asked by a Daily Telegraph reader, in their “Jessica Investigates” section today. Reader, John Davis asks – “After spending 25 years in the pensions and life assurance industry, I ceased working in the field at the age of 50… By then I had accumulated…