In this episode of Informed Choice Radio, Martin talks about saving for retirement without using a pension.
There is also a roundup of the latest personal finance news and an update from the world of Informed Choice.
Saving for retirement without using a pension
Some new research by Alliance Trust Savings has found that over a third of savers are using cash ISAs to build a retirement fund. This rises to almost half of those living in the north of the country.
This research raises some interesting points about saving for retirement. We often think of retirement planning as the preserve of the pension. Pensions are the tax-efficient instrument of choice that people have historically used to save for later life.
But does that still make sense? Should your retirement savings rely entirely on pensions or is there a better way?
Personal finance news update
-A different measure of price inflation is being introduced which will better reflect everyday price changes and the cost of owning a home.
-9,000 Tesco Bank customers who were victims of fraud have received £2.5m of refunds.
-A ‘dire’ shortage of housing is continuing to drive up prices in the UK, according to surveyors.
-New research has identified the great British inheritance tug of war. Parents and children are banking on financial support from each other, according to the latest findings from SunLife’s Cash Happy report.
-Women are effectively working for free from now until the end of the year as a result of the gender pay gap.
Useful links mentioned in this episode
–The Antidote: Happiness for People Who Can’t Stand Positive Thinking by Oliver Burkeman
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