Savings

State pension age could require 'significant' rise

The state pension age will need to rise to 72 over the next two decades if the government wishes to peg retirement costs to the public purse at the same level as existed in 1981.

Savings accounts face 'obsolescence'

The twin pressures of stubbornly high inflation and low interest rates could render savings accounts obsolete, it has been warned.

Small firms should be exempt from pension proposals

The very smallest employers should be exempt from the automatic enrolment pension scheme that is due to come into effect in 2012.

Savers not being told about interest rate changes

Many banks and building societies are failing to keep savers properly informed about changes to the interest rates on their accounts, comsumer group Which? has claimed.

Government publishes a raft of tax consultations

The Treasury has issued nine consultation papers on various aspects of the personal and business tax system in what amounts to a far-reaching overhaul of the entire regime.

Tax system to be simplified

The UK tax system is be streamlined and made simpler in an effort to boost levels of investment in business, the government has announced.

Pension annuities no longer to be compulsory

The government has announced that people will no longer be obliged to buy an annuity with their pensions.

Inflation still the enemy of savers

Basic rate taxpayers require savings accounts offering interest rates of 4 per cent if they are to outpace inflation.

Changes may reduce occupational pension payments

The government has laid out plans to change the way that payments are calculated for final salary pension schemes.

New guidelines to speed up ISA transfers

Savers with cash ISAs should see an improvement in the length of time it takes to switch accounts from one provider to another.

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