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Savings

Savers see higher returns

Competition among banks and building societies in their efforts to attract new customers has pushed up the general level of interest rates on savings accounts.

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Last 'amnesty' for unpaid taxes on offshore accounts

People who have money in offshore accounts but have not disclosed the tax that may be owing are being given a second and final chance to settle their bills at a reduced penalty rate.

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Savers to benefit from improved compensation rules

Savers will get better protection in the event of their bank or building society collapsing.

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Savers could be overpaying on tax

Some people who have not registered to receive gross interest could be paying too much tax on their savings income.

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High Court hearing for retirement age case

A case contesting the right of employers to force workers to retire at 65 has reached the High Court.

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Pension funds deeper in deficit

The financial shortfall for pension funds worsened in June, according to official figures.

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Review could signal end of compulsory retirement age

The government’s announcement that it is to bring forward a planned review of the default retirement age could mean that employers may lose the right to force staff to retire at 65.

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Pension contribution tax relief plans to be amended

A measure limiting how much tax relief people can claim on their pension contributions has been changed by the government.

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Savers begin to reap rewards of higher rates

After months of low returns on their money, savers are starting to see an upturn in their fortunes.

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Scrap right to enforce retirement at 65, says Committee

Employers should lose the entitlement to force employees to retire at 65, the House of Commons Work and Pensions Select Committee has argued.

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