How to boost pension savings for women
In this episode, it’s all about the ladies and an interesting suggestion on a way to boost their levels of retirement savings. Keep listening if you’re of the less fair persuasion too, as there’s still plenty in this episode for you!
There’s also a roundup of the latest personal finance news, with the Bank of England keeping interest rates on hold and the FCA taking action against insurance companies who rip-off loyal customers.
And there’s the aftershow segment with talk of new team members, getting the time of the Budget wrong and an early Christmas.
Personal finance news
-The Bank of England has left interest rates unchanged at 0.75% but warned borrowers not to assume rates will be cut in the event of a no-deal Brexit. Voting unanimously 9-0 to keep rates on hold, the Bank’s Monetary Policy Committee said it is just as likely to hike rates in the face of a chaotic Brexit, with “little monetary policy can do to offset” the impact of a disorderly exit from the European Union.
-Pound Sterling has risen strongly against the Euro following speculation that a Brexit deal date has been decided. A deal on Brexit must be reached by 21st November, according to a letter from Brexit Secretary Dominic Raab to the House of Commons.
-HMRC has announced that it will consider refunding taxpayers who have faced a ‘failure to notify’ tax penalty in connection with the High Income Child Benefit Tax charge. The move has been welcomed by mutual insurer Royal London who have been campaigning for reform to the system which is poorly understood by many taxpayers.
-Work-related stress is a “growing epidemic”, according to a new warning from trade union the TUC. New figures published by the Health and Safety Executive show 15.4 million working days were lost to work-related stress in 2017/2018 – an increase of nearly 3 million.
-Insurance firms could face a crackdown over-charging loyal customers, following a new investigation by the Financial Conduct Authority. Firms are routinely charging loyal customers an average of £350 a year more than new customers, with the higher premiums hidden by gradual year-on-year price rises.