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Martin Flanagan: Aegon's BlackRock tie-up way ahead in pensions shake-upScotsman (blog)The pensions industry has not had changes to seek in recent years. We have had final salary pension schemes giving way to defined contribution, partly due to company schemes coming under financial pressure and partly due to people living longer.
Financial TimesUK's 'challenger' banks surge aheadFinancial TimesUK's 'challenger' banks surge ahead. Emma Dunkley. Share. Print; Clip; Gift Article ... By comparison, the largest challengers, TSB, Virgin Money, Williams & Glyn and Handelsbanken, posted a 9.5 per cent ROE — up from 8.8 per cent. Both groups ...and more »
Financial TimesSmall UK 'challenger' banks surge aheadFinancial TimesSmall UK 'challenger' banks surge ahead. Emma Dunkley. Share. Print; Clip; Gift ... By comparison, the largest challengers, TSB, Virgin Money, Williams & Glyn and Handelsbanken, posted a 9.5 per cent ROE — up from 8.8 per cent. Both groups ...
Bank of North Dakota Soars Despite Oil Bust: A Blueprint for California?The Market OracleWhere to get this money? One option would be the state's own pension funds, which are always seeking good investments. Today state pension funds are looking for a return of about 7% per year (although in practice they are getting less). One billion ...and more »
Telegraph.co.ukQuestor tip: Don't hang up on TalkTalk yet, there's room to growTelegraph.co.ukAround 157,000 of the company's customers were caught up in the scandal, which saw hackers gain access to credit card and bank account details, as well as personal information such as dates of birth. In all, the incident is expected to cost TalkTalk ...and more »
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To Save or To Clear the Debts?

You may have noticed that your savings aren’t doing a lot to pay their way these days. Pensioners are badly hit as many of them use the interest from their life savings to pad out the weekly amount they get from the state. Many mortgage payers are happy as their payments have come down, but just about everyone else with savings is in the situation where the real value of their money is falling because interest payments aren’t as high as inflation.

 The average rate for UK instant access accounts including current accounts was around 0.17% at the end of February and we’ve had another cut in the Bank base rate of half a percent since then. Despite that, with credit hard for many people to come by; credit limits being cut by the card companies and worries about job losses, if you can, it’s best to have some savings on hand for an emergency. And the latest figures show that people are saving more. There’s nearly £1,000 billion of savings in our banks and building societies and another £90 billion in National Savings.  

In terms of interest you may as well keep your money under the bed – but then that’s probably the first place a cash strapped burglar is going to look. Fixed rate bonds pay slightly higher rates than instant access accounts. National Savings and Investments products are increasingly popular because people want to know their money is safe whatever the interest rates and they have a 100% government deposit guarantee. It’s never been more important to shop around and don’t be slow to move your money to higher interest rate paying accounts. Keep a close check on any accounts you do have to see what interest you are being paid. The financial pages of the newspapers are good for advice on which accounts are paying the best rates but these change frequently. 

Once you’ve got your emergency fund in place if there’s any money left over think about clearing expensive debts. There’s no point in having a lot of money sitting in an account getting 2.5% interest if you’re paying off loans or credit card accounts at interest rates in the high teens and 20’s. Homeowners are paying off their mortgages too. Some who’ve seen their monthly payments fall are continuing to pay at the old rate so that they clear their mortgages more quickly.

If you have a lot of savings think about getting some financial advice. Your money may not be doing as well for you as it could and a good Independent Financial Adviser can be worth his or her weight in gold. Visit more than one and choose the advice you feel happiest with. Family, friends and colleagues may be able to recommend advisers they’ve used and found helpful.

If you’re lucky enough to have money to put aside it’s time to take stock and nurture it so that it can nurture you back in the future.

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