This week’s financial news roundup covers the increase in contactless card transaction limits, which comes into play this week. In addition, read about how the government is considering scrapping free prescriptions for some over 60s and why one pensions expert believes that a drop in the state pension age is not out of the question.
While it’s widely known that the UK state pension age is set to gradually increase over the next decade, fewer people are aware of plans to change when Brits can start drawing down from private pensions, too.
The clocks going back at the end of October is the ideal opportunity to spend an extra hour in bed for many people. However, a new campaign is calling on us to use that extra hour to trace our lost pensions instead.
This week’s finance news brought a damning report from the National Audit Office about pension underpayments. We also learned that HMRC is being urged to increase the Money Purchase Annual Allowance for over 55s and that fraud losses in the UK surged in the first half of 2021.
This week brought the news that many Brits will miss out on the state pension increase next year. Likely state pension delays are set to cause anxiety among older people, and eligible households were urged to apply for the Warm Home Discount as soon as possible.
This week’s finance news brought warnings from experts over lowering the state pension age. New figures also revealed that credit card use has surged recently, and why Brits need to save more money to feel financially secure.
In this week's finance news roundup, it is revealed that over two million Brits are getting less than £100 a week in state pension payments. Elsewhere, UK staycation prices are skyrocketing. Spain remains the most desirable destination for ex-pats, and the property market faces a severe stock shortage.
This week saw calls for the Department of Work & Pensions to face questions over the unpaid state pension pensions fiasco. Also, thousands of energy customers are facing bill shocks, Rishi Sunak has set up a new fund to help struggling households, and vast numbers of older workers could be facing redundancy.