PERSONAL FINANCE NEWS

 
Timothy Barber
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BEWARE PHONE CALL SCAM
HM Revenue & Customs has issued a warning to taxpayers after reports that thieves were making phone calls pretending to be the taxman. According to reports, fraudsters say that you are due a tax rebate and ask for your bank details over the phone. They then try to gain access to your bank accounts and could sell your details on to other organised crime gangs. HMRC urges anyone who receives a call to contact the police and not to disclose their details.

PARENTS OFFER STUDENTS A HAND
Students are underestimating how much help their parents will give them while at university, according to new research from Barclays bank. The survey found 77 per cent of parents are willing to help, whereas only 43 per cent of students are expecting help. On average, parents are willing to contribute £9,000 to the costs. This is more than double what students think their parents will contribute. However, only 29 per cent of parents said they saved for this cost.

PENSION AND ISA LINK
Online financial services provider Fair Investment is urging the government to make saving for a pension easier for young people. It says that saving £50 a month when you are young can make a real difference when you retire. It would like to see ISA investments blended with pension saving and the state pension. This would encourage more saving, it says, since it would be simpler and more flexible than current pension plans, which do not allow cash withdrawals.