Savers planning to dip into their private pensions at age 55 will be forced to wait an additional two years from 2028, the Government has confirmed. Anyone aged 49 and under must now wait until 57 before being allowed to access their pensions without incurring significant and prohibitive tax charges. As it […]
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Six-month wait for cash if DIY investors sell property funds
Suspending a fund can protect investors as fund managers are under less pressure to raise cash via a “fire sale”. The proposed three to six-month notice period would mean they can plan sales and reduce the likelihood of a fund suspending, the FCA said. The watchdog added that its new rules would also enable funds […]
Property buyers face wait to purchase as surveyors battle backlog
Homebuyers face a frustrating wait to complete their purchases, despite the Government ban on surveyors visiting properties being lifted. The housing market was kickstarted on Wednesday after the Government said it would allow property transactions to resume. However, there are fears that it could be weeks before many would-be buyers […]
Blackmore Bonds files for administration as investors face anxious wait for their cash back
Thousands of investors with more than £45m held in “mini-bonds” issued by property investment firm Blackmore face an anxious wait to find out if they will get any cash back after the firm appointed administrators on Thursday. Geoff Bouchier and Benjamin Wiles of Duff & Phelps have been appointed after […]
Rail commuters wait weeks as refund requests are delayed
Workers who bought season tickets through a company offering cheaper fares have been left waiting weeks for a refund on their tickets. Commuter Club offered discounted tickets for those travelling to work by train. Promoted by adverts on the London Underground, its website boasted that customers could cancel their tickets […]
Cash crisis warning as businesses wait for furlough scheme to kick in
Businesses facing a cash crisis are desperate for the Government to launch its furlough scheme in time for this month’s payrolls, the British Chambers of Commerce has warned. A survey conducted by the business organisation found that two-thirds of respondents had furloughed staff in advance of the job retention programme, […]