Author Archives: Dave Taylor
Ministers lay out Local Government Pension Scheme reforms after union deal
Ministers have outlined their plans for the future of the local government pension scheme after employers and unions brokered a framework agreement on how to implement Lord Hutton’s reforms. Treasury chief secretary Danny Alexander said “headline agreements” had been reached … Continue reading
Buying cheaper than renting in 94% of towns
Buying property is now more cost-effective than it has ever been compared to renting, proving cheaper in 47 out of 50 British towns, compared to 40 out of 50 this time last year, according to research. A study by a … Continue reading
34% of homeowners view their home as their pension
More than one in three people aged over 45 regard their house as part of their pension pot, promising a strong future for equity release, according to recent research. The research of more than 1,000 people aged over 45 showed … Continue reading
No base rate rise expected till 2014 “at the earliest”
Interest rates will not rise until 2014 “at the earliest,” experts have suggested, after the Bank of England said it is unlikely to change its monetary policy stance soon. The July minutes of the Bank’s Monetary Policy Committee (MPC) showed … Continue reading
Call to scrap pensions tax relief to boost saving
Replacing tax relief on pensions with a matched savings scheme and setting up a “no-lose lottery” could help plug Britain’s savings gap, a think tank said. The current tax relief system only encourages saving amongst those already inclined to save, … Continue reading
Base rate on hold for 28th month
The Bank of England Monetary Policy Committee (MPC) chose to keep base rate on hold at 0.5%, as economic recovery remains fragile. As widely expected, MPC members ignored calls from organisations including the Save Our Savers group to hike rates, … Continue reading
HNWs fail to claim top rate pension tax relief
Some high net worth (HNW) individuals are failing to claim their 40-50% pensions tax relief because they do not know they must claim it themselves. Several tax advisers told the Financial Times that, as high earners are switched from final … Continue reading
Inflation-linked annuities break even at 96
New data shows that RPI would need to average four per cent over 20 years for an inflation-linked annuity to match a level annuity. Average inflation rates over the past twenty years suggest that a man at age 65 would … Continue reading
Annuity customers missing ‘billions’
Research suggests that customers are missing out on billions of pounds by failing to apply for an enhanced annuity and that advisers could be part of the problem. Independent research commissioned by Oxford Economics, on behalf of the Pension Income … Continue reading
BoE interest rates remain at record 0.5% low
The Bank of England (BoE) today held interest rates at a record low as concerns about slow growth outweighed worries over high inflation. Economists had predicted rates would stay at 0.5% for the 27th month in a row. The Monetary … Continue reading