ICR333: Wake up when it comes to your retirement income
In this episode I’m talking about retirement income; the good, the bad and the ugly.
I’m talking about a new report from the Financial Conduct Authority, looking at how the retirement income sector is serving consumers more than three years after the introduction of pension freedoms.
There’s also a roundup of the latest personal finance news and the after show, where (after an extended break from these Friday episodes) I talk about what’s been going on recently in my world and in the world of Informed Choice.
Personal finance news
-Automatic Enrolment will not diffuse the ‘ticking timebomb’ that is the self-employed pensions crisis. That’s according to a new landmark report by the Association of Independent Professionals and the Self-Employed.
-Two influential committees of MPs have said over 40s in England should pay additional tax to help pay for elderly care. Those in retirement should also pay the tax, if they have sufficient pension or investment wealth, according to MPs.
-Annual house price growth has slowed to a five-year low, according to the latest Nationwide house price index. The closely watched index of house prices shows a 2% annual growth rate, down from 2.4% in May.
-It was announced this week that a heterosexual couple have won their legal bid for the right to have a civil partnership instead of a marriage. The Supreme Court unanimously ruled in favour of 37 year old Rebecca Steinfeld and 41 year old Charles Keidan, both from London.
-The Financial Conduct Authority (FCA) has published an update on its Strategic Review of Retail Banking Business Models. The Review is an in-depth and wide-ranging piece of work to give the FCA a greater understanding of retail banks’ business models, and how these may change in the future.