Pensions, savings and investments

The government has insisted that there is no need to up the state pension retirement age beyond the increase to 68 planned for 2044.

Competition among banks and building societies in their efforts to attract new customers has pushed up the general level of interest rates on savings accounts.

People who have money in offshore accounts but have not disclosed the tax that may be owing are being given a second and final chance to settle their bills at a reduced penalty rate.

Savers will get better protection in the event of their bank or building society collapsing.

Some people who have not registered to receive gross interest could be paying too much tax on their savings income.

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