Charities, insurance companies and financial advisers are backing a new website designed to help people who have to pay for long-term care. The site, called Paying for Care (www.payingforcare.co.uk), has been launched by annuity providers Partnership, but is designed to give impartial and comprehensive advice on all aspects of the care system. This will include [...]
Higher rate taxpayers will each miss out on tens of thousands of pounds once their child benefit is withdrawn, experts have calculated. Here are some of the investment options that could have been used for the money and the amount that parents could lose out on if they have stayed invested over 18 years. Danny [...]
Savers are losing up to three quarters of their pensions in little-known fees charged by the investment funds that manage their money, a report by senior pension experts warns. Private pensions in Britain pay out on average half as much retirement income as equivalent schemes in Europe, the report says, with hidden costs blighting the [...]
The phasing out of the cheque book by 2018 will have “major ramifications” for the elderly, MPs were told as a campaign was launched to prolong their use. Millions of people still use the payment method every day and scrapping its use would hit small businesses, the elderly and blind people the hardest, it was [...]
No one wants to think about what might happen to their dependants after they die, which is why so many of us put off making a will. It is National Write a Will week this week, and 30 million people in Britain don’t have a will – about 70 per cent of the population – [...]
If you want your children to go to university, you may have to take investment risks. The financial problems looming for most families are huge. University fees are soaring and parents who don’t want to see their children graduating with debts the size of a small mortgage are looking for radical savings ideas. At the [...]
A growing body of concerned parents and grandparents are setting up pensions for their children to combat fears they could end up in poverty in old age. Figures out last week emphasise just how far pensions have slipped down the list of young people’s financial priorities. A third of all 33 to 44-year-olds and 40 [...]
Savings accounts will become “totally obsolete” if inflation rises next week, experts have warned. Latest figures suggested that not a single saver in Briton would make a real return on their cash if the cost of living continues to rise. Historically low interest rates and the government’s preferred measure of inflation, the Consumer Prices Index, [...]
A proposed limit on contributions could hit even those earning modest salaries. On the same day that BP revealed that its beleaguered chief executive, Tony Hayward, would walk away with a £600,000-a-year pension, the Government unveiled plans to severely restrict the amount of money people can save tax-free into one. The Treasury is proposing an [...]
Set up a pension at birth and take advantage of tremendous tax breaks. Parents could make their baby an adult millionaire by starting a pension pot when they are born. While it may be hard to imagine your children reaching retirement, by contributing just £88 per month to a child self invested pension plan (SIPP) [...]
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