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Finance

400,000 households will now get ‘reliable’ £50 boost each year

What is the Cold Weather Payment? A person may get the Cold Weather Payment if they’re getting certain benefits or Support for Mortgage Interest. The scheme runs between November 1 and March 31 each year, and it may be possible to get more than one payment during that time, although it’s not guaranteed there’ll be […]

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Finance

State pension age rise process has changed for increase to 67

Similarly, the consultation document asks whether it is “reasonable to give people a fixed period of notice for state pension age changes, and if so what period”. Commenting on the upcoming publication of the review, Tom Selby, head of retirement policy, said: “Jeremy Hunt’s Autumn Statement brought generally good news on the state pension. However, […]

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Finance

Dragons’ Den pitch branded ‘disaster’ but business then sold for

Among the brands to have entered the Den is Pasta Evangelists. Co-founders Finn Lagun and Alessandro Savelli’s time on Dragons’ Den aired in 2018, seeking £75,000 in exchange for a 2.5 percent equity stake in the business. Pasta Evangelists makes artisanal fresh pasta, which is available for home delivery and subscriptions. During their pitch five […]

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Finance

Pensioners on low income could get £25 via Cold Weather Payment scheme

The Cold Weather Payment scheme runs during the winter, and it’s now opened for 2022/23. People may be eligible if they get certain benefits or Support for Mortgage Interest, including pensioners on Pension Credit. The payment isn’t guaranteed though – eligible people only qualify if the average temperature in the area is recorded as, or […]

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Finance

Octopus Energy explains how you could save £488 on energy bills – check if you can save

Closing the gaps – £45 Putting the heating on during harsh winters is crucial, but often draughts can reduce the impact. “Identifying and plugging up draughts around doors, windows and other gaps can help trap warmth in and make your gas spend go further,” Octopus said. Setting the thermostat – £128 Using the thermostat as […]

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Finance

Pensioners can get money off their food shop – how over 60s can access 10% discount

Each Tuesday, people aged 60 and over can bag 10 percent off their shop at Iceland and The Food Warehouse. There’s no minimum spend, meaning eligible customers can secure the discount whatever the size of their shopping list. To redeem the discount, shoppers will of course need to shop on a Tuesday, and show either […]

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Finance

Millions of pensions face £25,000 lifetime hit as inflation soars: ‘Dramatically impacted’

Sarah Coles, senior personal finance analyst at Hargreaves Lansdown warned: “Inflation at 18.6 percent would push millions of people into dire straits. “And because these horrible price hikes are being driven by the essentials people need to stay alive – like food and heat – it’s going to hit those on lower incomes hardest, who’ve […]

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Finance

Savings in retirement: What are the options for £35k inheritance? Your questions answered

“I’ve just received £35,000 from a relative’s estate. I have never had so much money in all my life! I really don’t know where to put the money. At the moment I have £10,000 in my ISA, £10,000 in my husband’s ISA and £14,000 into a flexi save account. The reason we decided on only […]

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Finance

Thousands see state pension STOPPED as Pension Service ‘can’t be sure amount is correct’

Furthermore, they are told to tell the service if the decision “will cause hardship or circumstances change”. Ian Andexser, Chairman of the Canadian Alliance of British Pensioners, has sent an open letter to Secretary of State for Work and Pensions Thérèse Coffey, urging her to intervene. Within the letter, Mr Andexser, who is among those […]

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Finance

‘Stark reality!’ Inflation rise sparks UK recession fears – ‘Ducks are getting into row’

Giles Coghlan, Chief Analyst, HYCM said: “As today’s inflation data came in just a fraction below the market’s maximum expectations of 9.3 percent year-on-year, traders and investors should therefore watch for yet more aggressive action from the Monetary Policy Committee in August. “Predictions are currently suggesting that inflation could top 11 percent this year – […]