business and finance

Budget 2020: High earners get pension tax relief boost to help doctors

The Government's move means most doctors will no longer be hit by tax bills due to the hated 'taper' - but it shunned widespread calls to abolish the complicated pension tax rule altogether.




business and finance

Pensions chief warns older workers face delayed retirement after rout

Barry O'Dwyer, chief exec of insurer Royal London, said the catastrophic rout caused by the coronavirus could mean some people nearing retirement age no longer have enough money left to live off.




business and finance

What to do with your pension if you are hard up or made redundant

We explain how you can mitigate the fallout from reducing or ending pension contributions for a time. Don't panic, stay vigilant against scams, and keep paying in if you can afford it.




business and finance

How do I get a will signed with two witnesses during coronavirus crisis?

With fear about coronavirus gripping the country, demand for wills is soaring. Law firms say they are seeing jumps in requests ranging between 30 and 70% compared with normal business.




business and finance

How to stop coronavirus infecting your pension income

Younger savers will have decades to recoup pension losses, but those close to retirement have tough decisions to make.




business and finance

Child benefit claims plummet, meaning more parents lose state pension credits

The number of families claiming child benefit has plunged by 44,000 to 7.28m over a year, and has fallen by well over half a million since 2012.




business and finance

Savers struggling in coronavirus crisis warned against pension scams

Savers who are under financial pressure or have lost jobs should beware scammers tempting them to tap pension pots early or switch them into higher risk investments.




business and finance

Pension withdrawals soar at start of tax year: Avoid these five pitfalls

Tom Selby, a senior analyst at financial services firm AJ Bell, explains how first-timers and experienced investors can avoid unnecessary losses and big tax bills




business and finance

Switch away from 'flawed' RPI inflation in 2025 would cost BT £1.7bn

Morten Nilsson said switching billions of index-linked government bonds it held from the Retail Prices Index to CPIH would cost it at least £1billion, due to a fall in the value of the bonds.




business and finance

Should state pension triple lock be axed to help pay for the coronavirus crisis?

The guarantee should be abandoned to ensure the economic recovery from the coronavirus crisis is fair to working-age households, says the Social Market Foundation.




business and finance

Should you consider a direct cremation? It is the cheapest type of funeral

No frills cremations cost around £1,600 on average, and ashes are returned to a family afterwards, allowing them to organise a personal memorial at a time of their choosing.




business and finance

Coronavirus lockdown providing rich pickings for heartless criminals

So far they have cheated victims out of £2 million, using the fear of Covid-19 to launch a wave of scams that experts describe as 'sick'. We advise you on how to thwart the fraudsters.




business and finance

Should you worry about your final salary pension as deficits deepen?

Many savers have ditched these generous guaranteed pensions in recent years, often tempted by huge transfer value offers. We reveal six things you must consider if you're tempted.




business and finance

How do I set up power of attorney during coronavirus lockdown?

Registering lasting power of attorney might start taking longer than the usual eight weeks during the current crisis, but official oversight body suggests some temporary workarounds.




business and finance

What happens to my pension if I am furloughed?

We explain how pensions are treated while people are furloughed, including what happens if you are in your employer's 'salary sacrifice' scheme.




business and finance

I wrongly thought I got divorced - can my wife share an inheritance?

We separated 20 years ago. I am about to inherit from an estate and have a small private pension and a full state pension. Can my wife claim on them? Lawyer Lisa Pepper, of Osbornes Law, replies.




business and finance

Steve Webb answers your pension questions here

Former Pensions Minister Steve is This is Money's Agony Uncle. Here's where you can check out all his previous columns to see if any involve issues affecting you.




business and finance

How do we convince our elderly father to sign a straightforward will?

The only item in the will is his house, which will be split 50/50 between my brother and I anyway. There's nothing underhand going on in any way. Lawyer Jane Sutherland of Nelsons, pictured, replies.




business and finance

Savers transferring final salary pensions will get warning letters

Any saver expressing interest in ditching a final salary pension is to be warned off in a letter telling them it's unlikely to be in their best interests.




business and finance

Rose Knight, the 110-year-old who couldn't get a food delivery

Sainsbury's customer Rose Knight, from Surrey, who drove ambulances during World War II air raids, has been unable get food dropped off at her home, despite frequent attempts.




business and finance

New overdraft rates of up to 40% are meant to come into force today

Controversial new overdraft rules come into force today which has seen some banks increasing overdraft rates to nearly 40 per cent.




business and finance

Big banks to cut savings rates to as low as 0.01%

Some savers are now in line to earn as little as 0.01 per cent - just £1 interest over a whole year on each £10,000 in their account. This is £129 less than if they switched to a top easy-access deal.




business and finance

New Turner £20 note smashes estimate and sells for £7,500 in online auction

An ultra-low numbered new £20 note sold for a whopping £7,500 at a behind closed doors auction this afternoon, far beyond its estimated price.




business and finance

Will building society fat cats cut their pay this year?

The interest building society customers receive has been cut to ribbons ever since the 2008 financial crisis. But Yorkshire's Mike Regnier, for example, will keep his £20,000 bonus from 2019.




business and finance

Name-checking Confirmation of Payee cuts bank scams by 31%

Britain's largest current account provider Lloyds rolled out Confirmation of Payee to customers over five weeks in February and March, and said it had now carried out 4million name checks.




business and finance

Savings platforms saw surge in interest as coronavirus caused market havoc in March

Savers with large pots looked for a safe haven amid market storms caused by coronavirus, with savings platforms that safely spread money around seeing a surge in applications.




business and finance

Don't use cards? Here's how to get hold of cash

UK banks this week outlined how how vulnerable customers can get hold of cash. For the first time, trusted friends and family will be able to make withdrawals on their behalf.




business and finance

Best savings rates: Children's accounts face hefty cuts

Grandparents with fixed monthly pension payments could find their bank balances are looking much healthier now they are no longer spending money on things like going out and holidays.




business and finance

Best savings rates: Marcus makes a cut but new top easy-access deals are launched

Savers have been handed a double blow as two market-leading easy-access deals have both disappeared within a week of each other, with Marcus and Virgin Money both making cuts.




business and finance

NS&I reverses next month's planned cuts to Premium Bonds in win for savers

National Savings & Investments was due to halve the number of winners of £50 and £100 prizes next month to 13,448, and the odds of winning would be cut from 24,500 to 1 to 26,000 to 1.




business and finance

Record 180 savings deals vanish as Nationwide cuts

There were 1,768 available savings accounts and Isas at this time in March, Moneyfacts said. By April this had fallen to 1,588, and average savings rates from 0.56% to 0.44%.




business and finance

NS&I reverses savings cuts to fund Government war on coronavirus

Despite interest rates plunging to record lows, National Savings and Investments has gone against the grain and abandoned plans to cut rewards which would have cost savers £200 m.




business and finance

What next for savings rates? Banks tap into new funding scheme

A Bank of England scheme designed to provide banks with cheap money to lend to small businesses has handed out an enormous £6billion in its first week, official figures reveal.




business and finance

HSBC and Lloyds report thousands more are digitally scanning cheques

Figures from two of Britain's big four high street banks revealed the numbers of cheques being digitally deposited using mobile banking apps has surged, while branch footfall has plummeted.




business and finance

Last chance to open a Nationwide account offering 5% interest

From the start of May, 5% savings deals will be as dead as a dinosaur, with Nationwide cutting FlexDirect from 5% to 2% and lowering the balance you can earn interest on. But you can sign up now.




business and finance

Banks cut savings rates for loyal savers by four times the base rate chop

The official base rate was reduced by 0.65 percentage points last month to 0.1 per cent, but savers face bigger cuts.




business and finance

We waited 60 years to win £50,000 in the Premium Bonds draw

Last month retired school site manager Ken Medlycott (pictured with wife Sally) won a huge £50,000 - doubling his savings. The odds of him winning such a prize in a year were one-in-7,466.




business and finance

Nationwide loses current account switching crown to Monzo

Nationwide lost its switching crown to Monzo in the final three months of last year, new figures show, as the highest number of people in four years switched their bank accounts in March.




business and finance

Treasury will reduce Lifetime Isa penalty to 20% until next April

In a major victory for This is Money, who raised the issue with the Treasury on Monday, minister John Glen said the Lifetime Isa withdrawal penalty would be reduced to 20% until next April.




business and finance

Should you cash out as NS&I makes cuts to fixed-rate savings deals?

While NS&I announced it was reversing planned cuts to some of its variable rate savings accounts, including Premium Bonds, it still pressed ahead with cuts to 10 fixed-rate deals.




business and finance

Downsizing your home: Tips for moving to a smaller property in retirement

There are many reasons people choose to move to a smaller place. Perhaps your kids have left so there's no need for all the extra room, or you want to release some cash to supplement your income.




business and finance

UK towns where house prices rose the most in the past decade

House prices in Hartlepool, Redcar & Cleveland and Blackpool are lower than they were ten years ago, new analysis shows.




business and finance

Newcastle Building Society hands first-time buyers £2000 on top of their Lifetime Isa savings

Home buyers looking to get onto the housing ladder for the first time can now access a deal that will boost their deposit savings by £2,000.




business and finance

Surprise December 2019 bounce in house prices say Nationwide

House price inflation was up by 1.4% annually last month despite December typically being one of the slowest in the property market, figures from Nationwide Building Society show.




business and finance

What next for house prices in Britain from 2020 onwards?

House prices in Britain are a much-talked about subject - and a borderline obsession for some. But after a rollercoaster ride in the past decade, what will happen next?




business and finance

Equity release rates hit their lowest ever levels - but is it really as cheap as it seems?

The lowest rate on the market is now just 2.84 per cent - on offer from More to Life - making it cheaper than ever to borrow against your home after you retire. But there are catches.




business and finance

House prices up 4% in 2019 after a £4k December bounce, says Halifax

Halifax's house price index showed the average property climbed £9,136 last year to £238,963, but the bank said that it only expected 'modest' rises in the year ahead.




business and finance

Lenders slice rates on 5-year mortgages as popularity of longer term deals soars 

The number of five-year fixes on offer for those with a bigger deposit is now even greater than the number of two-year deals, which have traditionally been the most popular mortgage-type.




business and finance

Which mortgage lenders let you use your bonuses to secure a loan?

Numbers crunched by mortgage broker Private Finance reveal that picking a 'bonus-friendly' mortgage lender could add a significant chunk onto the amount some workers could borrow.




business and finance

Sainsbury's Bank urged to move borrowers to a regulated lender after pulling out of mortgage market

Sainsbury's Bank is under pressure to guarantee that its mortgage customers won't be sold to a 'vulture fund' or private equity firm.