Workers could have to put hundreds of pounds more a year into their pensions under proposals being considered to boost retirement savings.
A minimum total contribution of 12%, made up of both employer and employee cash, is under consideration by the second Pensions Commission, according to The i Paper. But no final contribution rate has been agreed and details are undecided.
The commission’s final recommendations are expected in spring 2027, meaning there will not be an immediate change to your payslip.
The Sun looks at how this could impact workers' take-home pay and why the change is being considered. ... See MoreSee Less
MINISTERS are eyeing up plans that could force workers into saving more for their retirement – we reveal how much more YOU will have to pay in. Workers could have to put hundreds of pounds mo…
Christmas is fast approaching, and while the festive season is a wonderful time for families to come together, the extra costs can make it stressful.
Which? has rounded up 11 money-saving tips from its experts, from loyalty schemes to Secret Santa, to help you cut festive costs, both this year and for years to come.
ISA millionaires have hit a record high - there are now almost 8,000 ISA millionaires in the UK, as historic stock market returns have rewarded patient investors.
While it is theoretically possible for someone who put their full ÂŁ20,000 ISA allowance into cash each year since 1999 to have become an ISA millionaire, it is incredibly unlikely, and the vast majority of ISA millionaires joined the club by putting their ISA contributions into the stock market.
For anyone dreaming of joining the ISA millionaire's club, it's important to remember that patience is key.
Read more in this article from MoneyWeek.
Investing can help your money grow over time but isn’t guaranteed. ... See MoreSee Less
If your mortgage deal is coming to an end, should you fix for two years or lock in a rate for longer?
Fixed rates are currently close to the 6% mark - if you're coming to the end of a two-year fixed deal, you're likely to find that today's rates are slightly higher than when you last took out your mortgage. Those coming off five-year fixed rates need to prepare for significantly higher rates; for most mortgages, this jump will result in monthly repayments increasing by hundreds of pounds.
This Which? article looks at two- and five-year fixes plus six key things to weigh up before choosing your next mortgage. ... See MoreSee Less
Lost pension pot? Missing pensions can mean missing out on years of growth. According to new research About 2.5 million lost pots are thought to be held by people aged under 55. Have a read of this article from the Independent to learn how you can trace yours through services such as the Pension Tracing Service and pension finding tools. ... See MoreSee Less
With 6% mortgage rates now being talked about as the new normal, the housing market is changing fast. The average interest rate on a new five-year mortgage deal hit 6% last week, the highest in three years. If you’re planning to buy, now’s a good time to review your budget, explore options and get clarity on what you can afford. Have a read of this in depth article from the Observer. ... See MoreSee Less
What does the rising State Pension age mean for retirement planning? The State Pension age is gradually increasing, and many people are staying in work for longer. This article looks at how the changes could affect retirement income, pension access and future planning. For more information, read this article from Which? ... See MoreSee Less
There are plenty of financial tasks that need to be dealt with after someone dies and it might feel like they need doing straightaway. Yet acting too quickly on things like selling a property, moving money or dealing with insurance, could create unnecessary tax, legal or financial problems - the last thing you need when emotions are already running high. This Telegraph article explores the money decisions you should press pause on. ... See MoreSee Less
How does the seven-year rule work when it comes to inheritance tax? This article takes a closer look at what it means and how taper relief work for gifts made three to seven years before death. ... See MoreSee Less
Gifts made less than seven years before death may be liable for inheritance tax under the seven-year rule – but how the rule is applied is less well known
Workers could have to put hundreds of pounds more a year into their pensions under proposals being considered to boost retirement savings.
A minimum total contribution of 12%, made up of both employer and employee cash, is under consideration by the second Pensions Commission, according to The i Paper. But no final contribution rate has been agreed and details are undecided.
The commission’s final recommendations are expected in spring 2027, meaning there will not be an immediate change to your payslip.
The Sun looks at how this could impact workers' take-home pay and why the change is being considered. ... See MoreSee Less
Ministers eye plans for workers to save more - how much will YOU have to pay in?
sprou.tt
MINISTERS are eyeing up plans that could force workers into saving more for their retirement – we reveal how much more YOU will have to pay in. Workers could have to put hundreds of pounds mo…Comment on Facebook
Christmas is fast approaching, and while the festive season is a wonderful time for families to come together, the extra costs can make it stressful.
Which? has rounded up 11 money-saving tips from its experts, from loyalty schemes to Secret Santa, to help you cut festive costs, both this year and for years to come.
Read more > ... See MoreSee Less
11 ways to boost your budget this Christmas - Which?
sprou.tt
Discover expert tips to save money on presents, food and festive essentialsComment on Facebook
ISA millionaires have hit a record high - there are now almost 8,000 ISA millionaires in the UK, as historic stock market returns have rewarded patient investors.
While it is theoretically possible for someone who put their full ÂŁ20,000 ISA allowance into cash each year since 1999 to have become an ISA millionaire, it is incredibly unlikely, and the vast majority of ISA millionaires joined the club by putting their ISA contributions into the stock market.
For anyone dreaming of joining the ISA millionaire's club, it's important to remember that patience is key.
Read more in this article from MoneyWeek.
Investing can help your money grow over time but isn’t guaranteed. ... See MoreSee Less
Number of ISA millionaires hits new record high
sprou.tt
There are now almost 8,000 ISA millionaires in the UK, as historic stock market returns have rewarded patient investors. How can you join the club?Comment on Facebook
If your mortgage deal is coming to an end, should you fix for two years or lock in a rate for longer?
Fixed rates are currently close to the 6% mark - if you're coming to the end of a two-year fixed deal, you're likely to find that today's rates are slightly higher than when you last took out your mortgage. Those coming off five-year fixed rates need to prepare for significantly higher rates; for most mortgages, this jump will result in monthly repayments increasing by hundreds of pounds.
This Which? article looks at two- and five-year fixes plus six key things to weigh up before choosing your next mortgage. ... See MoreSee Less
Should you fix your mortgage for two or five years? - Which?
sprou.tt
Plus, 6 key things to weigh up before choosing your next mortgageComment on Facebook
Lost pension pot? Missing pensions can mean missing out on years of growth. According to new research About 2.5 million lost pots are thought to be held by people aged under 55. Have a read of this article from the Independent to learn how you can trace yours through services such as the Pension Tracing Service and pension finding tools. ... See MoreSee Less
Millions of pensions are going unclaimed in UK – here’s how to find yours
sprou.tt
Older people with lost pensions could have even more valuable ones to discoverComment on Facebook
With 6% mortgage rates now being talked about as the new normal, the housing market is changing fast. The average interest rate on a new five-year mortgage deal hit 6% last week, the highest in three years. If you’re planning to buy, now’s a good time to review your budget, explore options and get clarity on what you can afford. Have a read of this in depth article from the Observer. ... See MoreSee Less
For first-time buyers, 6% mortgages are the new 12%
sprou.tt
Global events have pushed borrowing rates to their highest level in three years, but that doesn’t mean we should expect a 1990s-style crashComment on Facebook
What does the rising State Pension age mean for retirement planning? The State Pension age is gradually increasing, and many people are staying in work for longer. This article looks at how the changes could affect retirement income, pension access and future planning. For more information, read this article from Which? ... See MoreSee Less
Does a rising state pension age mean you'll need to keep working? - Which?
sprou.tt
The average age at which people retire has reached a record high.Comment on Facebook
There are plenty of financial tasks that need to be dealt with after someone dies and it might feel like they need doing straightaway. Yet acting too quickly on things like selling a property, moving money or dealing with insurance, could create unnecessary tax, legal or financial problems - the last thing you need when emotions are already running high. This Telegraph article explores the money decisions you should press pause on. ... See MoreSee Less
Six money mistakes you could make in the rush to sort an estate
sprou.tt
Hasty decisions after a death can cost you dearly – here’s when to hit pauseComment on Facebook
How does the seven-year rule work when it comes to inheritance tax? This article takes a closer look at what it means and how taper relief work for gifts made three to seven years before death. ... See MoreSee Less
The common ‘misconception’ about the inheritance tax seven-year rule
sprou.tt
Gifts made less than seven years before death may be liable for inheritance tax under the seven-year rule – but how the rule is applied is less well knownComment on Facebook