Brits to receive first cost of living payments from government starting today July 14, 2022 Eight million Brits will begin receiving payments to help with the cost of living crisis on Thursday.. Direct payments will be automatically made into recipients’ bank, building society or credit union account, for low-income households on means-tested benefits. The first payment, referred to as the DWP Cost of Living payment, will consist of £326 and [...]
£330 pay boost for 30m Brits as National Insurance threshold will rise to £12,570 from tomorrow July 5, 2022 Millions of Brits will get a modest boost in their pay packets this month as they grapple with surging living costs, because – from tomorrow – the threshold at which people pay National Insurance (NI) will increase. The UK Government has previously said this will benefit nearly 30m working people with a typical employee saving [...]
Pensions growth ‘stabilises’ despite fears of a pandemic plunge, DWP finds June 28, 2022 Growth in pension saving has “stabilised” in the past two years despite fears that the pandemic would slash the amount of workers squirrelling away cash for retirement, official figures revealed today.
DWP: Decades old IT system errors over ‘successive governments’ meant millions paid wrong pensions June 17, 2022 IT system failings over “successive governments” led to millions of people getting the wrong pensions for decades. The department for work and pensions (DWP) is investigating how to rectify the situation to ensure ‘every pensioner receives the financial support to which they are entitled”. The discrepancy was revealed by the BBC this morning, which cited [...]
City watchdog convicted just two people for insider trading in the past five years June 13, 2022 The UK’s financial watchdog achieved just two successful convictions against individuals for insider trading over the past five years, according to The Times. New data recovered from the UK’s Financial Conduct Authority (FCA) via a freedom of information (FoI) request shows the watchdog secured just two successful convictions in the five years running from [...]
Government to face Atos in court following spat over £845m supercomputer contract May 23, 2022 The UK government is set to face IT company Atos in the UK’s High Court next month after the French firm filed a lawsuit against government over its decision to award an £845m Met Office contract to Microsoft. The French multinational is claiming its bid was wrongly excluded from the tendering process on the grounds [...]
Age hits equally, but the gender pension gap doesn’t May 19, 2022 According to Amazon’s rankings, the best selling products for sixty-plus Brits are elevated toilet seats, pill organisers and pain relief creams. As elderly age affects the population regardless of gender, Amazon’s pensioners’ insights don’t take into account whether the buyer is a man or a woman – raised toilet seats are so far yet to [...]
Government to hunt down ‘callous’ benefit fraudsters in new £600m crackdown that should save £2bn May 19, 2022 A new crackdown on benefit fraud should save the taxpayer £2bn over the next three years. A £600m plan is to be unveiled by the Government. The plan will involve 2,000 trained specialists reviewing two million universal credit claims over the next five years. DWP officers will also be bolstered with new powers, including to [...]
Pension bodies launch saving campaign as inflation threatens spending power April 5, 2022 Top pension bodies have launched a campaign to try and boost the UK’s engagement with pensions today, as fears grow that soaring inflation could take a chunk out of pensioners' spending power.
Government explores ways to unlock wave of pension investment March 30, 2022 The government is exploring ways to unleash a wave of investment from pension funds into private assets, as it opens an industry consultation today designed to slash red tape.