Over-65s are profiting from a rising trend in the number of people becoming self-employed, according to a study. QuickBooks developer Intuit polled 5,000 people and found the average ‘silver self-employed’ worker earns almost £40,000 a year – around £7,000 more than...
Many adults may be overestimating what they will receive in retirement, a study has found. Insurance company Aviva polled 2,030 people and found 25% are relying on discounts and subsidies to make their retirement more affordable. Furthermore, 23% said they had a good...
Businesses that failed to pay staff the national minimum wage have been forced to pay back more than £2 million in unpaid salary. In addition to paying workers back money they owed, 233 employers on the government’s ‘named and shamed’ list were fined...
From an article on 11th October 2016 A single financial guidance service, delivering debt advice, budgeting and pension guidance will be set up by the government. The Money Advice Service will be abolished (as announced at Budget 2016) and the Pensions Advice Service...
From an article on 13th October 2016 The pension reforms introduced by former chancellor George Osborne will cost an estimated £5 billion to the UK economy and contribute to rising house prices, according to the Office of Budget Responsibility (OBR). The report looked...
An article from the 13th October 2016 Almost a third of people over the age of 50 are dealing with financial debt, repaying an average of £12,000. Saga Personal Finance’s survey of 1000 people aged over 50 found that 29%, or 6 million, are currently repaying debts in...
An article from the 3rd October 2016 Workers earning the national minimum wage (NMW) have received a pay rise as of 1 October 2016. 270,000 workers aged 21 – 24 earning the NMW have seen their hourly wage rise by 25p an hour to £6.95. Those working 35 hours a week...
Saving towards a new home is 3 times more important than saving for a pension for under-35s, according to research by Nottingham Mortgage Services. 25% of the over 1000 adults surveyed said that their top priority is raising funds towards buying their first property...
39% of business owners still have no understanding of the forthcoming apprenticeship levy, according to research by the British Chambers of Commerce (BCC). 30% of the 1600 medium-sized businesses (employ between 50-249 employees) surveyed will have to pay a levy of...
More than one third of working adults are uncertain on when they will retire, according to research by Platforum. 30% plan to work either full time or part time beyond the state retirement age, which is currently 65. Uncertainty is higher among women with 39% having a...
