Savings

Final salary pensions under threat

A half of the final salary pension schemes still in operation in the private sector face closure by 2012.

Savers getting excellent real returns

Savers are currently enjoying some of the best returns on their money in nearly 20 years, it has been argued.

HMRC wins access to offshore bank account details

Over 300 banks and financial institutions will be obliged to hand over details of their customers’ offshore accounts to the tax authorities.

No plans for raising retirement age still further

The government has insisted that there is no need to up the state pension retirement age beyond the increase to 68 planned for 2044.

Savers see higher returns

Competition among banks and building societies in their efforts to attract new customers has pushed up the general level of interest rates on savings accounts.

Last 'amnesty' for unpaid taxes on offshore accounts

People who have money in offshore accounts but have not disclosed the tax that may be owing are being given a second and final chance to settle their bills at a reduced penalty rate.

Savers to benefit from improved compensation rules

Savers will get better protection in the event of their bank or building society collapsing.

Savers could be overpaying on tax

Some people who have not registered to receive gross interest could be paying too much tax on their savings income.

High Court hearing for retirement age case

A case contesting the right of employers to force workers to retire at 65 has reached the High Court.

Pension funds deeper in deficit

The financial shortfall for pension funds worsened in June, according to official figures.

Syndicate content