All the latest news and views from Financial Advice Network

Unmanageable debt affects thousands

16 Jan, 2018

Unmanageable debt said to be serious problem for lowest-income households in Britain

The Institute for Fiscal Studies (IFS) analysed official figures to estimate the extent of unmanageable debt. The research body found that unsecured borrowing, such as loans, overdrafts and credit cards, had been rising by nearly 10% a year in the UK. Helen Barnard, from the Joseph Rowntree Foundation, which commissioned the report, said: “The government, […]

advisers hit with 24million pound levy

04 Jan, 2018

Financial advisers landed with extra 24 million pound levy

The Financial Services Compensation Scheme (FSCS) is to raise an additional £23.9m from financial advisers, following higher than expected claims about self-invested personal pensions (Sipp). The scheme said in its latest Outlook publication that it had expected the costs to be higher than the amount levied on advisers for this year, but decided to limit the levy with […]

Older workers not saving for retirement

14 Dec, 2017

One in five older workers aren’t saving for retirement according to Aviva

Strained by the rising cost of living, almost a fifth of UK workers in their fifties and sixties are unable to save anything for retirement, new research has revealed. In a report published by insurance company Aviva, it was found that a total of 43% of those aged 50 to 59, and 38% of those […]

Crude oil prices increases by over 1%

12 Dec, 2017

Crude oil prices increase by more than 1% the highest level since 2015

Brent crude oil prices rose by more than 1%, with the current price of a barrel being $65, and has reached its highest level since mid-2015 after the major Forties pipeline in the North Sea was shut down for repairs. Ineos, which recently became the owner of the pipeline, said a shutdown was the safest […]

Carillion pensions worries increase after liquidation anouncement

15 Jan, 2018

Carillion downfall leaves 28,500 people scared for their pension

The defined benefit (DB) pension schemes of Carillion, one of the UK government’s biggest contractors, will enter the Pension Protection Fund (PPF) after the company announced it had gone into liquidation. Carillion has 13 pension schemes in the UK with more than 28,500 members, and a deficit of £587m at the end of July. After […]

diesel car market share will drop to 15% in 2025

09 Jan, 2018

Diesel vehicles market share could shrink to 15% by 2025

A study conducted by Aston University in Birmingham, has revealed that diesel vehicles could see their share of the UK car market plummet from 50% to 15% by 2025. This conclusion was drawn due to a “perfect storm” of environmental concerns and Government policy. Last week, figures from the Society of Motor Manufacturers and Traders found that demand for diesel […]

7.9million in debt after Christmas

02 Jan, 2018

Christmas debts become apparent for 7.9 million Brits this January

Debt charity, the Money Advice Trust (MAT), is calling on households to start planning for next Christmas to avoid falling into a debt spiral, as a large number of people are expected to fall behind on their bills this month after the expensive festive period. In a recent survey, the charity found that 55% of […]

Over 50s spending their kids inheritance

13 Dec, 2017

Pension dashboard will benefit consumer and industry alike says MP

The government will announce legislation on the pension dashboard to bring pension schemes and providers on board, Guy Opperman, the minister for pensions and financial inclusion, revealed. Speaking at a workshop session on the project on Monday (11th December), the minister said: “…there is growing evidence for some form of compulsion to bring about a […]

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