Record low for annuity rates

The average annual income from a standard annuity has fallen to a record low within three weeks of a major overhaul of the pension system.

The popularity of annuities – bought from a pension pot and guaranteeing a fixed, regular income for life – fell after the shake-up was announced. Since 6 April, retirees have been able to do what they wish with their pension pot, but it may be taxed.

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Free money ignored

They say nothing in life is free. So when £25 was seemingly abandoned in the middle of Manchester city centre it was met with suspicion.
Especially as it came with one vital stipulation – “for people in need only.” It was placed there by social media company “The Lad Bible” – not as an act of kindness or charity – but as a social experiment.

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Britain’s Richest Man

Warner Music owner Len Blavatnik is Britain’s richest man with a £13.17 billion fortune, according to the 2015 Sunday Times Rich List.
He takes the top spot from brothers Sri and Gopi Hinduja, now worth £13 billion. The total wealth of the richest 1,000 individuals and families in Britain has more than doubled in the last 10 years to £547 billion, the survey reported.

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UK GDP growth disappoints

The UK’s economy grew by just 0.3% in the first quarter of 2015 compared to expectations of 0.5% growth and last quarter’s 0.6% rise, according to the Office for National Statistics. The first quarter’s figure is the worst reading since the fourth quarter of 2012 when it was up only 0.1%.

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Strawberries and cream, but don’t forget your investments!

What a fantastic summer for the UK so far; a new royal baby, a British Tour de France winner, a great start to The Ashes series, the first British mens singles winner at Wimbledon since 1936 and the hottest summer weather for years!

With all the excitement it’s easy to forget that the FTSE 100 is currently over 1000 points higher than at the same time last year, that’s an increase of over 18%.

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