Savings News
Babyboomers swap work for sun and fun
Baby Boomers of the fifties are shunning a pipe and slippers retirement and looking towards a more sun and fun-filled time, according to research by Bradford & Bingley.
Barclays bucks the trend
While the rest of the savings market seems to be booming with increasing rates and new best buy products being launched almost daily, this week Barclays Bank became the first provider to announce a reduction in its savings range during this period of base rate stability.
Double your reason to save at Chelsea
From Saturday 27 October 2007 there is even more reason to open a savings account with Chelsea.
NS&I reduces interest rates on fixed rate savings
NS&I (National Savings and Investments) will be decreasing the interest rates on a range of its fixed rate savings offers by up to 0.60% per annum. All new rates come into effect on 24 October 2007.
NatWest launches investment offering protection and growth
NatWest has launched a new investment, the NatWest Capital Protected Investment, aimed at those looking for growth potential as well as security.
Company employees lose out in capital gains tax changes
Yorkshire Building Society, one of the biggest providers of employee Sharesave Schemes, has today called for the Chancellor to look in more detail at the implications of the new Capital Gains Tax (CGT) announced in Tuesday’s Pre-budget statement, and its effect on employee share plans.
CGT - "Good news for smaller savers"
The IMA welcomes the Government's proposed reforms to capital gains tax and calls upon the Government to implement them in next year's Budget.
British adults expect property to contribute most to retirement
Despite indications of a cooling housing market in most parts of Britain, people’s faith in bricks and mortar to fund their retirement increased dramatically over the past 12 months.
No guarantee in a rate guarantee
Rachel Thrussell, Head of Savings at Moneyfacts.co.uk, comments: “While the lending markets may still be sitting under a cloud as a result of the credit crunch, there has been a far sunnier outlook for savers over the past few weeks.
Government must not risk distorting the savings market
Commenting on today’s announcement from the Government that it is to consult the financial services industry over increasing the guarantee for deposits held in bank accounts, the ABI’s Director General, Stephen Haddrill, said:
ABCUL welcomes Saving Gateway commitment
ABCUL – the Association of British Credit Unions – has welcomed the Government’s decision to take forward the roll out of the Saving Gateway and its commitment to continuing the Financial Inclusion Fund, announced in the Pre-Budget Report.
Tory tax plans could lead to £44.2 billion in increased savings
25 million Brits would save an additional £44.2 billion per year for their dependants’ future if the threshold for paying inheritance tax were raised to £1 million, according to research from Abbey Savings.
Fixed rates savings: the gap between the best and the rest widens
Rachel Thrusell, Head of savings at Moneyfacts.co.uk, comments: “Peaking at 7% for only a matter of days, those savers who were not quick off the blocks will have missed out on the very best fixed rate deals.
FSA increase limit of Financial Service Compensation Scheme
The Financial Services Authority (FSA) has increased the limit of Financial Service Compensation Scheme (FSCS) cover for deposits to 100% of the first £35,000 of each depositor's claim.
Britons’ savings reach record levels
UK consumers are taking advantage of recent interest rate rises with savings levels for the second quarter of 2007 topping a record £47 billion, according to Unbiased.co.uk’s latest Savings Brake figures.