Wealth Management News

Age limit for private pension withdrawals to go up

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The minimum age for private pension withdrawals will increase from 55 to 57 in 2028, according to the Treasury. The pension freedom reforms introduced by former Chancellor George Osborne have allowed pension holders to access their savings pots at 55 before the State Pension retirement age, which is currently 65. Under the current rules, pension […]

Wealth Management News

Are you a mortgage prisoner?

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It is believed that thousands of homeowners in the UK could be trapped in poor pension deals due to changes to the affordability rules brought in during the last financial crisis. Often referred to as mortgage prisoners, these homeowners have found, that despite generally keeping up with repayments, they are no longer eligible for many […]

Wealth Management News

NS&I given go-ahead to raise £40bn this year

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In response to the Coronavirus pandemic, the Government has asked the National Savings and Investments (NS&I) to raise a record £40 billion this year to help with the fight against the virus. The Treasury has revised its annual fundraising target for the bank for 2020 from £6 billion up to £40 billion as the Government […]

Wealth Management News

Banks list top 10 Coronavirus scams

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Throughout this ongoing pandemic, fraudsters have attempted to play on people’s fears to try and trick them out of their hard-earned cash. Now UK Finance, the trade body for the British banking sector, has issued a list of the most common scams to help people identify them. The ten scams to be wary of include: […]