Annuity sales up by more than a third
More people opted for an annuity in the past year, seeking to benefit from the security of a guaranteed income and lock in higher rates. Sales of retirement annuities jumped by over a third between 2022/23 and 2023/24, according to data from the Financial Conduct Authority (FCA). Offering a guaranteed income for life, annuities are […]
Confidence rising among home buyers
There are positive signs of a rebound in the UK property market as mortgage rates trend downwards and more homes are put up for sale. With further interest rate cuts from the Bank of England on the horizon, potential buyers are gaining confidence about making their move. ‘Window of opportunity’ opened This summer and early […]
Firms call for employee health tax incentives
As many as 2.8 million people in the UK are thought to be out of work due to long-term ill health. This is hampering the country’s economic growth, with over a third of businesses saying they have turned down growth opportunities due to labour shortages. To address the issue, business leaders have called for a […]
Breaking the inheritance taboo
Money and death are two things that many of us often avoid talking about, so perhaps it’s no surprise that the majority of people who received an inheritance sum in the past five years did not discuss its value with the benefactor beforehand. While some receive more than they had anticipated, others get less — […]
First-time buyers to get £30bn of family help over next three years
People buying their first home had almost £10bn of financial help from family members last year to help them get on the property ladder. A new analysis from property firm Savills reveals that gifts and loans from the so-called Bank of Mum and Dad totalled £9.4bn in 2023. The amount has almost doubled since 2019 […]
Workplace pensions to be rated red, amber or green
Twelve years on from the launch of auto enrolment, a new traffic light-style rating system for workplace pension schemes aims to deliver better value for savers. Under the proposal, workplace defined contribution schemes will be compared on metrics that demonstrate value — not just costs and charges, but also investment performance and service quality. They […]
One in seven targeted by pension scams
Pension savers have been advised to watch out for scams after research revealed that 7.3 million people in the UK have experienced an attempted pension scam in the past 12 months. This equates to around one in seven UK adults. Almost four million people lost money to purchase scams over the same period. The findings […]
More home sales agreed as confidence improves
Activity in the housing market is continuing to pick up, with more sellers listing homes for sale and more sales being agreed. With interest rates finally coming down and mortgage costs easing, there are positive signs for both buyers and sellers. Increasing supply of homes for sale The UK property market has seen a shortage […]
Mental health training for line managers linked to better business performance
When employees are experiencing mental health issues, it’s vital that they feel supported at work. One in six workers in the UK experience mental health challenges, with 12.7% of all sick days attributed to mental ill-health. New research highlights the business benefits of equipping line managers with the skills to help address mental health challenges […]
Transition into retirement overtakes ‘hard stop’
People’s expectations of retirement are changing. Most workers no longer hope or expect to have a ‘hard stop’ retirement, where they simply stop working and rely solely on their pension. Instead, a majority now anticipate retirement to be a period of transition, where they reduce their working hours and balance work with doing other things. […]