What an annuity costs and where to buy it

If you’re looking to purchase a life-long income with your pension savings, there’s a lot to think about when making the irreversible decision about where to put your money. Where can you find a good annuity? How much do they cost? Where to buy First of all, your pension provider may offer their own annuity six months before you retire, …

State pension age increase brought forward by Gov’t

The government has announced the state pension age (SPA) will rise to 68 seven years earlier than previously planned. The change is in line with a report led by John Cridland and published in March this year. Under current legislation, from December 2018, the SPA for men and women will increase to 66. It will then rise to 67 between …

Drawdown regrets for savers ‘putting pension freedoms at risk’

Drawdown regrets for savers are putting pension freedoms at risk. Savers who invested in drawdown are unhappy with their choice while others admit they did not understand the risks before buying, new research* from MetLife shows. – More than one in five admit they did not understand the risks of conventional drawdown and more than one in 10 are unhappy …

Bank of England hold interest rate at 0.25%

Bank of England hold interest rate in September. The Bank of England have left UK interest rates unchanged this month after promising economic data. After cutting interest rates to a new record low last month, the Bank of England’s Monetary Policy Committee decided unanimously to hold interest rates at 0.25%. This policy move follows recent data which suggests the economy …

Stephen Crabb Work and Pensions Secretary Resigns

Stephen Crabb has resigned from his Government post as Works and Pensions Secretary, citing ‘the best interests of his family’. Crabb was rushed into the role at the Department for Work and Pensions (DWP) following the resignation of prominent Brexiteer Iain Duncan-Smith after the Budget this year. Following the vote to Leave at the EU Referendum, Crabb declared his candidacy …

The UK’s new Prime Minister – Theresa May

Theresa May, the UK’s new Prime Minister vows to be ‘one nation’ Government that works for all not just the “privileged few”. Speaking outside 10 Downing Street for the first time as Prime Minister and after being appointed by the Queen, she said it would be her mission to “build a better Britain”. She promised to give people who were …