Ask the expert: Can I build a £1m pension by 60? Personal Finance Fidelity personal financial specialist Marianna Hunt is back on hand to answer your burning questions, and today a reader wants to know how to achieve a £1m pension pot. Q. I’m 32 and earn £50,000 per year. I only have about £55,000 in my pension currently and want to grow that to £1m by age [...]
Over one million pensioners hit by higher income tax rates Personal Finance The number of pensioners paying the highest rates of income tax has doubled in the last five years as frozen thresholds drag more Brits into higher bands. The amount of pensioners paying income tax at 40 per cent or 45 per cent has surpassed one million this current tax year, according to a freedom of [...]
Use AI for investing at your own risk, warns watchdog Personal Finance The financial watchdog has warned Brits using AI for investment advice that they may not be protected if things go wrong as more people turn to online chatbots. Four in five inexperienced investors admitted to using AI tools for help with their investment decision, according to the latest research from the Financial Conduct Authority (FCA). [...]
Pensioners to hand over bank statements in government benefits crackdown August 26, 2026 Pensioners will have to hand over their bank statements to the government as part of its crackdown on the ballooning benefits system. The Department of Work and Pensions (DWP) is preparing to inform pensioners they will need to provide bank statements as part of its review into Pension Credit claims, I News first reported. The [...]
Billions in pensions go missing: JP Morgan and Standard Life reconnect Brits with lost wealth August 24, 2026 Over £2bn in lost wealth was returned to savers in the first six months of the year, by firms including JP Morgan and Standard Life who want to reconnect Brits with lost money. The initiative, dubbed ‘Billions 4 Millions, returned £2.5bn in lost and uncliamed financial assets to consumers, spanning pensions, investments, savings and financial [...]
Ask the expert: Is this a hack for contributing £29,000 to an ISA? August 17, 2026 Fidelity personal financial specialist Marianna Hunt is back on hand to answer your burning questions, and today a reader wants to know if they’ve found a hack on UK ISA rules. Q. My grandson is turning 18 this year. I want to give him some money to invest in his ISA. Is it true that [...]
Grandparents fund university degrees to avoid inheritance tax net August 13, 2026 Wealthy grandparents are choosing to fund their grandchildren’s university education over leaving a large inheritance as they look to avoid the shake up to the tax system. The bank of grandma and grandad has played a greater role within UK families in recent years, as parents continue to be squeezed by rising costs. In particular, [...]
Ask the expert: How do I avoid double tax on my pension? August 5, 2026 Got a question for our expert? Email asktheexpert@cityam.com Fidelity personal financial specialist Marianna Hunt is back on hand to answer your burning questions, and today a reader is looking to avoid the incoming double tax blow. Q: I’m hoping to retire soon and am just deciding where I will draw my income from. I had [...]
Pensioners hit with £8bn tax bill after government freezes allowances July 30, 2026 Pensioners paid some £8bn in extra tax last year after a freeze on personal allowances dragged people into higher bands, new figures have revealed. The amount of tax paid by people in retirement climbed from £21.1bn to £29.8bn, an increase of over 40 per cent in just two years, according to the latest pension participation [...]
IHT receipts hit record high as Rachel Reeves’ frozen bands raid plague Brits July 21, 2026 Inheritance tax receipts soared to a record high in the three months to June 2026, as frozen thresholds drag more Brits into the net. Receipts hit £2.3bn over the period, according to the latest figures from HMRC, a £96m increase from the same period last year. In June alone inheritance tax (IHT) receipts totalled £871m [...]