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Britons stash over £1bn at home as interest rates on savings dwindle

The most popular reasons the 2,000 people surveyed gave for keeping cash at home include being able to s ee it, using it for everyday spending, and convenience.  Many are unhappy with the interest they were making on other savings and a whopping 17 per cent said their savings were generating no interest at all.

Piggy banks are a great starting point for children learning the basics of saving money, but there is a clear opportunity for adults to gather their stockpiles together and make their money work harder for them.  Whether it is under the mattress, in a bottle, or in a sock drawer, that money could be contributing towards your savings goals.

With interest rates so poor people just do not know where to turn to invest their hard earned cash and give them some sort of genuine return.  This is where I can help!  If you wish to see your money begin to give you an income of 5% per annum, I have a robust genuine safe investment available from a highly reputable multinational insurance organisation that will give you that.

This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Assurance Vie and Fonds En Euro/Sterling

Simon VerityMany clients have sensibly opted to invest in Assurance Vie (Investment Bonds) type arrangements in France for the huge income tax and inheritance advantages offered though these products for French residents. A large selection of clients have also taken the option of using the Fond en Euros or Sterling funds preferring the guaranteed rates of return offered and the invested capital’s security.

Indeed so used are the Fond en Euros funds within Assurance vie “wrappers” that often clients believe that they are one and the same. The Fond en Euros main principles are that your capital’s value is guaranteed and you are given an annual rate of interest. The assurance vie ensures your funds grow free of French taxation due to the code of law relating to Life Insurance products. This combination has been so used in France and so much money tied up in these arrangements that the Government want to bring in a statute to limit the percentage invested into Fond en Euros per investor portfolio as they see this type of fund as stagnating the French economy and restricting investment into industry via the purchase of “actions” or shares. 

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QROPS Uptake is in Decline but Suitability is Still the Key Question

Tick and CrossNew data from HM Revenue & Customs reveals that the combined value of retirement transfers to QROPS fell to £740 million in the 2017-2018 tax year, the first period since the government introduced a 25% tax charge, with the number of pension transfers down to 4,700 from 9,700.

Given the scale of the pension transfer tax, the drop recorded by HMRC in QROPS transfers should come as no surprise. However, as the figures do not differentiate between transfers made by UK citizens and expat retirement transfers, it is difficult to know what, if any, difference the new levy has had on the decisions of expats.

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