Personal finance
The Department for Education is poised to put the Teachers' Pension Scheme, which covers over 1.1 million teachers, out to tender to the private sector. This move, revealed in documents seen by The Sunday Times, could mark a significant shift in the management of occupational pension schemes in
Personal finance
Debbie Harrison's article highlights the critical need for understanding pension planning in the face of scandals and uncertainty. The basic building blocks of state schemes, occupational pensions, and individual private plans are as follows: almost 10 million people receive a state pension, 11 million employees rely on occupational
Personal finance
As the UK housing market undergoes changes, property specialists warn that homeowners who let out their properties are facing a challenging year ahead. With the introduction of the "average" rental payment system in April, rental prices could be squeezed in some areas, and landlords will struggle to increase
Personal finance
Borrowers can benefit from using mortgage brokers to navigate the complexities of the mortgage market, according to industry experts. Despite lingering concerns about commission-driven advice, reputable brokers can help borrowers secure better deals on fixed and discounted rates, as well as term assurance. By using a broker, borrowers can avoid
Personal finance
People with terminal illnesses, like Aids patient Mr. S, are being offered attractive cash payments for their life insurance policies by a growing number of companies. However, these companies often have a history of delays, excuses, and in some cases, failing to provide the promised payments. This phenomenon is part
Personal finance
The UK life insurance industry is bracing itself for significant changes in consumer response to new disclosure rules, which require full transparency on commission payments to salesmen and advisers. Independent actuary AKG predicts a 30% drop in commissions this year as buyers become more informed. The "key features"
Personal finance
Reading a mutual fund's prospectus can seem daunting, but taking the time to understand its contents is crucial for making informed investment decisions. The prospectus provides a wealth of information, including risk levels, fees, and tax implications, which can significantly impact an investor's financial well-being. By
Personal finance
Cheltenham & Gloucester (C&G) customers who were previously ineligible for bonus payments as part of the society's proposed merger with Lloyds Bank will now receive a small windfall, according to recent revelations. The bonus payments are linked to the customers' investment accounts, with only those
Personal finance
Many people investing in personal pensions are unaware of hidden charges that can significantly reduce their retirement savings, according to a new survey by actuarial firm Bacon & Woodrow. These charges, which include stockbrokers' commission, trusteeship fees, custody fees, and stamp duty, are often not included in the annual
Personal finance
Women in Canada are increasingly facing poverty in their old age due to inadequate pension savings, according to experts. The current pension system and benefits are not providing enough support for women, who have historically had limited opportunities to earn retirement benefits. The situation is likely to worsen as more
Personal finance
A budget specialist from leading accountancy firms suggests a "pick-pocket budget" is likely on November 29, with tax take expected to increase from most taxpayers. The chancellor will announce a further cut in mortgage-interest relief at source (MIRAS) from 20% to 15% this year, and a subsequent cut
Personal finance
The UK Chancellor has several reasons to review the current tax-free investments, including the pounds 5.46 billion invested in personal equity plans and the pounds 610m lost in tax revenue. Building societies and insurers are pushing for changes to Peps and Tessas, with the Building Societies Association suggesting the
