News and blog

State Pension top up - Class 3A voluntary National Insurance Contributions explained

In October 2015, the government will be introducing the Class 3A voluntary National Insurance Contributions (NICs), which will be available to purchase for a period of 18 months by those who have an entitlement to State Pension and have reached or will be reaching State Pension age by 5 April 2016. The aim is to allow pensioners to boost their retirement savings and will be particularly beneficial to women who took a break from work to have children as well as the self-employed.

Pension freedom warning - Fraudsters targeting over 55s with investment scams

Following the pension reforms introduced earlier this year, the charity, Citizens Advice, has seen a dramatic number of pensioners targeted repeatedly by fraudsters, resulting in 1 in 10 falling victim to a con.

Since the over 55s have been given increased freedom with their pension savings, pensioners have been keen to make more from their retirement pot. As a result, optimistic criminals have been luring savers into fake schemes which offer high rates of returns.

Thinking of downsizing?

It’s a question many of us will face as we get older, but what are the options and benefits that it could bring?

Moving to a smaller property that is more accustomed to our needs, or to simply free up funds to boost your retirement pot is a major decision for any family. But the changes that have been raised by the government in recent months could be more important than ever in helping you decide.  

Post Offices to stop selling Premium Bonds

Following the £10,000 increase in the maximum amount you can save in Premium Bonds, National Savings and Investments (NS&I), who manage this savings lottery, have also announced that Premium Bonds sold over the counter in Post Office branches will no longer be available from the end of July. Instead, savers will need to apply online, by post or by phone.

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