Finance in the News – w/c 12.08.19

Short summaries of articles we think you will find useful from some of the weekend’s broadsheets.

FINANCIAL TIMES

“The future for the pensions taper”
Will the NHS pensions row result in major surgery for unpopular tax trap?
“Woodford equity fund tops list of UK underachievers”
£32bn sitting in poorly performing ‘dog’ funds, report reveals.
“Insurance premium tax receipts hit record high”
The government collected £6.2bn from insurance premium tax in 2018-19.
“Investors must weigh the risk of rising inflation”
Trump leans on the Fed ahead of his re-election year.
“MPs call for ‘mandatory disclosure’ of pensions charges”
Work and pensions committee says it is ‘near impossible’ for savers to work out level of charges.
“The Lifetime ISA: three ways to invest”
A government-backed scheme for the under-40s to save for retirement or a first property.

THE TIMES

“‘Easy access savers could pocket £4.8bn with a notice account”
Savers may be missing out on £4.8bn of interest by failing to move their money from poor-paying easy access accounts to other deals that lock in their cash for a few months, researchers claim.
“Move fast to claim pension top-up for mixed-age couples”
Couples with one partner above the state pension age and the other below it could lose out on up to £7,000 a year unless they claim pension credit by Tuesday.
“Savers pay £17bn price for loyalty”
The 15.2 million savers who have not switched their easy-access accounts since 2016 have, between them, missed out on £17.3 billion in interest — an average of £1,139 each.

THE TELEGRAPH

“’What to do with £10k”
The ultimate plan for a 40-year-old investor.
“Buy-to-let crunch: ‘I was forced to sell my 44 properties, here’s how I saved £250k in tax’”
Thousands of property investors being forced out of the sector by punishing tax reforms are finding that selling up causes a tax headache all of its own.
“Save the public from ‘dreadful unregulated investments’: City grandees back Telegraph campaign”
Pressure is mounting on the City watchdog to close a loophole that allows regulated firms to sell risky unregulated investments.

THE GUARDIAN / OBSERVER

“Hey Google, lend me a tenner? NatWest trials voice banking”
High street bank says Google Home trial could let you do the banking as you make a cuppa or iron a shirt.
“Why is it so difficult to stop your pension money making the climate crisis worse?”
You’re lucky if your company pension set-up includes ethical funds that don’t invest in coal extraction or oil drilling.

Mail

“I was ‘contracted out’ but my National Insurance payments to build up state pension weren’t reduced – what should I do?”
Steve Webb replies.

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