Gaps in my National Insurance Record
You may have been wondering what exactly state pension is and how you get full access to it. Hopefully this can shed some light on the subject. The full amount of the State Pension is £203.85 per week. How much you receive of this is dependent on the amount of full National Insurance contribution years you have accumulated over your working life. Most people collect full years through working…
When is the State Pension age going to rise?
Recently announced plans by the French government to raise the retirement age by two years to 64 prompted widespread outrage, with protesters taking to the streets of Paris to make their objections heard. The situation became so serious that police ended up firing tear gas at protesters, King Charles had to cancel his planned state visit to France, and you could have been forgiven for thinking that photos of…
Teach your children good financial habits
Wanting to look after your family is one of the most natural impulses in the world, and that is one reason why you will want to make sure your finances are in order, so you can provide for them after you are gone. But another way to help your loved ones is to instill good financial habits into them early on in life, so they are in a stronger…
Can I get a state pension if there are gaps in my National Insurance record?
Typically, a person who receives a state pension will have made 35 years’ worth of National Insurance contributions. But there will always be people who have not reached this milestone and will therefore miss out. You might have been off work for several years because you had children or caring responsibilities. Or perhaps you lived overseas, or were recovering from an accident or illness and were unable to work…
Should I be worried about a new banking crisis?
You cannot have failed to have noticed some rather worrying headlines recently, from the collapse of Silicon Valley Bank, which led to HSBC buying its UK arm for just £1, to the £2.5bn takeover of Credit Suisse by UBS, in a move backed by the Swiss government. Six leading central banks, including the Bank of England, are boosting the flow of US dollars to keep credit flowing to households…
Homeowners resent stubbornly high mortgage rates
While the sense of turmoil that defined Liz Truss’s brief premiership has thankfully subsided, the legacy of the measures she (tried to) implement still remains. According to the Bank of England, the number of mortgage approvals hit its lowest level since 2009 – excluding Covid lockdowns – during January this year. That means that the mortgage market has contracted for five months in succession, and many analysts believe this…
What is happening with the Government’s Pensions dashboard
For some time now, the Government has been working towards rolling out a pensions dashboard, where people can view all their pension savings in one place. This, it said, would revolutionise how consumers keep track of their pension information, put savers in control and transform how they think and plan for their retirement. That is really important when you think about how a person can easily rack up multiple…
How to avoid arguing about money
As soaring energy and food prices put pressure on your household budget, you do not want money to become a source of tension at home. So how can you make sure you and your partner do not spend all your time in conflict over financial matters? Set goals together If you are one half of a couple, you need to involve your partner in making major life decisions and…
Get ready for the end of the tax year
The end of the tax year is fast approaching and little time remains. So in the weeks ahead of the April 5th deadline, what steps should you be taking to make the most of your money and reduce your tax bill? Here are just a few areas you could look at. Use your ISA allowance You can save or invest up to £20,000 per year with a cash ISA,…
Could you afford to retire early?
Early retirement – retiring any time before state pension age – is the dream for many. The pandemic focused many people’s minds; making them think about what they want out of life – and for many in a position to make big changes, early retirement was the big one. The House of Lords Economic Affairs Committee has recently been looking into what’s driven an increase in economic inactivity over…
