Savings

ISA allowances for 2017/18

Wednesday 5 April is the final day savers can contribute to an ISA before the allowances are reset for the new tax year.

Quarter of homeowners will need to downsize for retirement

Around 63% of homeowners favour downsizing their property to fund their retirement.

Parents to use Lifetime ISA to support children

Many parents are preparing to utilise the Lifetime ISA as a tool to encourage their children to save.

Over 55s unaware of new state pension age

A quarter of older workers over 55 are unaware of the new state pension age.

Average self-employed private pension savings half of employees

Average pension savings for self-employed people is half that of full-time employees.

Older savers call for more ISA clarity

Older savers are calling for ISAs to be simplified.

Deposit compensation limit increased

As of 30 January 2017, the deposit compensation limit is £85,000, up from the previous limit of £75,000.

Many still unaware of Lifetime ISA

Many people are unaware of the Lifetime ISA and how it works, 2 months before its official launch.

Average inheritance now £119,000

Over 55s are likely to save the majority of any inheritance, which now stands at £119,000.

21% lose track of multiple pensions

21% of people with multiple pension pots have misplaced one or all of their retirement savings.

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