Savings

Savings accounts squeezed on interest rates

One in ten of variable rate savings accounts have seen their interest rates cut over the past six months.

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Workplace pension schemes not always keeping savers informed

A number of workplace pension schemes are failing to provide their members with clear enough information about the choices open to them on retirement.

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Fixed-term savings rates show a fall

Interest rates on fixed savings accounts declined over the past month, new figures have revealed.

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Older taxpayers often paying the wrong amounts

Well over one million pensioners have overpaid their tax, official figures have revealed.

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Put retirement age up to 70, argue employers

A leading employers’ group, the Institute of Directors (IoD), has called for a radical overhaul and simplification of the pensions system.

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Proposed EU rules could hit pension funds

A draft directive drawn up by the EU could curtail the range of investments available to pension fund managers, it has been claimed.

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More funds going into workplace pension schemes

Both employers and employees have stepped up their level of investment in defined contribution pension schemes over the past two years.

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New tax-free savings limits for the over-50s

Savers aged over 50 now have the chance to invest more in tax-free ISA savings accounts.

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Employers given more time to prepare for pension reforms

The government’s pension scheme for lower income employees is not to be introduced fully until 2016, a year later than originally planned.

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Ruling goes against retirement age legal challenge

Employers will still have the right – for now – to ask employees to retire at the age of 65 following a judgement in the High Court.

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