Families miss out on £2,000 in tax-free childcare

More than a million parents in the UK are missing out on £2,000 a year by not claiming tax-free childcare. HMRC statistics found that around 172,000 families are claiming the Government support, up from 125,000 year-on-year. As 1.3m parents are eligible for the...

‘Most workers are unsure of pension pot value’

Most employees do not know the current size of their pension pots, according to research. Opinium polled 983 workers on behalf of the Pension and Lifetime Savings Association (PLSA) and found 54% did not keep track of their savings. Knowledge levels among workers...

Bank of England holds interest rate

The Bank of England has kept interest rates on hold at 0.75%, after coming close to cutting rates for the first time since August 2018. On 30 January, the Bank's Monetary Policy Committee (MPC) voted 7-2 in favour of retaining the rate for the next quarter, despite...

Pension exclusion ‘sees under-22s miss out on £18,000’

Employees under the age of 22 could be missing on up to £18,000 as a result of being excluded from auto-enrolment, a report has claimed. The Department for Work and Pensions (DWP) conducted a review into the Government's workplace pensions scheme back in 2017. One of...

Over-55s reveal target for retirement

People approaching retirement believe they need an average pot of £114,436 to feel comfortable for the rest of their lives. SunLife asked more than 1,000 over-55s how much they would need to fund a comfortable retirement on top of any income they already receive....