15m workers not ‘sufficiently’ saving for retirement, says top pensions chief Investing Tens of millions of working people will face a crisis in retirement with the current automatic salary contribution “no longer sufficient,” the boss of one of the UK’s largest pension providers has warned. Around 15 million people are set to suffer in retirement as workers use their automatic eight per cent auto-enrolment pension contribution as [...]
Vulnerable bank customers could face ‘higher barriers’ to redress in Treasury overhaul Banking Warnings are being raised over a planned Treasury shake-up of financial services rules after an impact assessment revealed vulnerable customers could be excluded from receiving compensation when wronged. The government unveiled its Enhancing Financial Services Bill at the King’s Speech, which paved the way for reform to consumer redress protections through changes in the Consumer Credit [...]
Standard Life snaps up Aegon UK for £2bn to create savings giant Investing Standard Life has snapped up the UK’s largest investment platform Aegon UK in a £2bn deal. The FTSE 100 giant – previously known as Phoenix Group – said the deal would create the UK’s top retirement savings and income business with near 16m customers and £480bn in assets under administration. Standard Life expects an annual [...]
Clearbank deposits balloon amid growth at Revolut and Coinbase April 15, 2026 The banking backbone behind the likes of Revolut and Coinbase has recorded a surge in deposits and revenue as client activity hit record levels Clearbank, which launched in 2017 to provide banking infrastructure and embedded services to challengers, posted a 65 per cent jump in deposits in 2025, reaching £17.8bn. The growth came as the [...]
NS&I under fire for ‘short-changing’ bereavers March 25, 2026 The UK’s state-owned savings giant is facing mounting backlash over its handling bereaved families’ savings. National Savings and Investments (NS&I) – formerly called the Post Office Savings Bank – has faced criticism for leaving families of deceased savers forced to call in lawyers to claw back their rightful cash. The Treasury-backed vehicle, which holds around £250bn [...]
UK bank ramps up fight for savers after rebrand January 22, 2026 The battle to bank Britain’s savers has ramped up with the arrival of a new name, set to challenge ‘easy access’ incumbents such as JP Morgan’s Chase, Goldman Sachs’ Marcus and fintechs like Oaknorth. The former UK arm of Jamaica National Group, previously dubbed JN Bank UK, has revamped its operations after being sold in [...]
Autumn Budget: Rachel Reeves told to scrap ‘not fit for purpose’ Lifetime ISA September 12, 2025 Chancellor Rachel Reeves has been warned that the Lifetime ISA (LISA) is “not fit for purpose and must be reformed” in the Autumn Budget. Tom Goddard, a senior associate at audit, tax and business advisory firm Blick Rothenberg, has argued that the LISA “must be reformed to not conflict with shared ownership schemes”. The LISA [...]
Monzo ramps up the banking battle for Gen Alpha August 21, 2025 Monzo has made a major play to secure the next generation of savers as banking giants look to secure a grip on the Gen Alpha market. The London-based fintech has added a three percent interest rate to its savings account for Under 16s. This catapults Monzo above its rivals’ rate offer for children’s accounts. TSB [...]
Moneybox’s wealth focus helps treble inflows to record high August 21, 2025 Moneybox secured its second consecutive year of profitability in 2024 after swathes of new customers poured billions into the firm. The investment platform‘s net inflows more than trebled to £5.8bn, from £1.7bn the year prior – a jump of over 241 per cent. Assets under management also more than doubled to £11.7bn as the fintech’s [...]
Five top paying savings accounts – earn up to 7.5 per cent August 8, 2025 Savings accounts are staging a fiery comeback as UK providers battle to attract customers. With the cost-of-living still rumbling on and interest rates beginning to shift, there’s prime opportunities to put money to work. A number of top accounts have upped rates in recent months – some over seven per cent – helping in a [...]