Graphs and arrows

Are better Interest rates on their way at last?

The UK has had an unprecedented period of low interest rates;  2009 saw the base rate drop to 0.5 and then last August down to 0.25.  That's eight years of extremely low interest rates.  Whilst this has been great for borrowers and helps to keep the business economy afloat, it has been disastrous for those people in or approaching retirement.  Annuity rates have been terrible for pension income returns and the bank rates for the people who have savings have been providing very poor returns.

Polling Station

The Brexit Effect

In true form, the ending of Theresa May’s last-minute snap election ended in a rather unexpected hung parliament, with the Conservatives planning to team up with Northern Ireland’s DUP party to form a majority government.

The election marked shock losses for the Conservatives. Out of 650 seats, the Tories finished with 318 seats - eight short of the figure needed to win - with Labour on 262, the SNP on 35 and Liberal Democrats on 12.

Water flowing down a plughole

Expat exodus causing a major problem for British universities

When an expat moves from their homeland to a new destination, either for work or education, they become a potentially valuable addition to that country. Such expats may go on to become an integral part of the country, which is why the rights of EU expats living in Britain has been one of the hot topics during Brexit negotiations.

Theresa May's pre-election refusal to guarantee the rights of migrant workers appeared to have a negative impact on many UK job sectors employing top flight individuals. It's a problem the media highlighted as a Brexit 'brain drain'.

SIPPs

SIPPs growing in popularity

New data has shown that the amount of money transferred into self-invested personal pensions (SIPPs) has grown by more than 200 percent since the introduction of new laws providing for greater pensions freedoms.

In 2015, then Chancellor George Osborne enabled retirement savers unrestricted access to their pension savings upon reaching the age of 55.

The data, which was released by not for profit FinTech company Origo, showed that prior to the April 2015 reforms, SIPPs were receiving 21 percent of funds from defined contribution schemes; that figure has since grown to 43 percent. Furthermore, the figures show that of these transfers 23% are from individual personal pensions (IPPs).

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