Savings News
Halifax welcomes extension of Saving Gateway
Commenting on the extension of the Saving Gateway initiative, Tony Wilcox, head of savings at Halifax: "We welcome the Chancellor's announcement to extend the availability of the Saving Gateway initiative. This is good news for those savers who need the most help.
UK tax regime should reward hard work, say Brits
85 per cent of Brits believe that the current UK tax regime needs to do more to reward those who work hard and save well, according to new research from Abbey Savings.
Road to the Saving Gateway is paved with opportunity
In a year of tough decisions about spending priorities, taxes and new Government initiatives, the Chancellor has a unique opportunity to help millions of people in Britain understand the merit of savings.
TISWAS generation facing bleak financial future
They may have been brought up during a golden age of children’s television, but the gaping financial black holes of the TISWAS Generation – ThIrty Somethings Without Any Savings – mean many will have to work into their 70s or hope they start earning six-figure salaries just to get by.
Credit crunch reveals winners and losers as bank holds rates
Payouts on savings are up a staggering 1.2 percentage points from January 2007 despite the Bank of England base rate being the same now as it was then, according to new research from MoneyExpert.com.
Abbey enhances savings range
Reinforcing their commitment to encouraging savers to put more money away for their futures, Abbey Savings has increased the savings limits and bonuses on a number of its savings products.
Dramatic fall in level of savings
Excluding pension contributions, UK adults are saving on average just 5.9% of their gross income each month, while 37% of people claim they are unable to save anything at all.
Brits to take advantage of stock market volatility
Over 15 million Brits (34 per cent) have dabbled in equity markets and a further 6.6 million (15 per cent) are considering taking advantage of current lower market valuations and investing in the stock market, according to new research from Abbey Savings.
Nationwide calls on the Chancellor to make saving a priority
Nationwide Building Society, ahead of next week's Budget, has called on the Chancellor to reform the ISA system and do more to encourage children and parents to save.
Brits start saving for retirement at 28
A global study into retirement has revealed that, on average, Brits start planning for their retirement at 28 – 5 years earlier than the international average age.
Savings & investment index reflects drop in consumer confidence
The Standard Life Savings & Investment Index hit an all time low in January 2008.
Barclays launches new range of savings accounts
Barclays is launching three new savings accounts, including a market leading cash ISA paying 6.50 per cent AER interest to allow customers to make the most of their tax-free savings allowance.
Savings – What a difference a year makes
This time last year the base rate was at the same level as it is today (5.25%). Savings rates on the other hand, are far higher than 12 months ago.
Post Office attracts £3 billion in savings
Post Office Financial Services has attracted over £3 billion in savings deposits and has won half a million car insurance customers, strengthening its position as one of the fastest growing financial services providers in the UK.
Aim high, save low
Far from retiring quietly, young people today expect to be able to afford the things they enjoy now when they retire with foreign holidays, satellite TV and gym membership as standard.