When an elderly pensioner visited her local building society for a five-year fixed savings account, she didn’t count on being put into an investment bond that failed dismally. This is Money's Lee Boyce investigates how a saver who wanted safe and steady ended up with a complicated investment instead.
Annuities which pay a level income for the rest of a retiree's life typically have a more head-turning starting income, but it puts pensioners' long-term financial stability at risk as inflation devalues the income.
Investor Data Services found huge disparities in the amount councils are paying investment managers to run their staff pension funds.
Banks led Britain's Footsie higher after European and Japanese central bankers renewed their commitment to monetary stimulus programmes. The FTSE 100 soared 1.62 per cent, or 107.67 points higher to close at 6,762.01 as positive economic data from the U.S. helped keep the rally maintain momentum in the afternoon session.
Citizens Advice criticism at a time when Britain's biggest payday lenders are under threat of being put out of action if they fail to prove to the Office of Fair Trading that their practices are up to scratch.
The average monthly spend on internet shopping has gone up from up from £56 to £113 per month, a survey by comparison website broadbandchoices.co.uk showed.
A Towers Watson survey of FTSE 100 companies showed that they are prepared to make contributions worth 10 per cent of workers' salaries into their retirement pots.
The cost of home insurance cover has continued to fall annually due to increased completion among providers, according to Moneysupermarket.
Am I too old to take a gap year at 55?
And how do I sort my finances before I make the break?
Beware! Ultra low interest rates 'may have to go up far sooner than you think'
PwC economic adviser Andrew Sentance says we could soon see higher rates.
Best bank accounts for those who stray overdrawn
What is dipping into the red costing you? We pick the best accounts for overdrafts
40 ways to save money
How your small business can become a success for less
65% of investors make buy-to-let their pension
Financial Mail reveals the best BTL mortgages and the areas with highest yields.
'I would invest if shares fell, but to commit money now would be sitting on a volcano'
As the stock market stumbles, is it worth the risk to buy in?
Mortgage rates are falling, but don't miss out
'We were really happy Nationwide would let us take out another mortgage at a great rate too.'
Online shoppers spending twice what they did 10 years ago
Report says that means a fifth of UK shops could go in 'High Street Armageddon'
Are we out of the woods yet?
Search continues for green shoots of Britain's economic recovery.
We had no bill from npower for almost a year
And now we have £1,300 to pay - is this really our fault?
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The FTSE 100 Index surged 1.6 per cent or 107.7 points to 6762, resuming its upward trajectory after last week's setback, which was triggered by hints the US Federal Reserve could scale back its vast money-printing drive. In New York, the Dow Jones Industrial Average raced ahead by 1.2 per cent in early trading after figures revealed consumer confidence last month hit its highest level since February 2008. It was also boosted by encouraging data on the US housing market.
Reports over the weekend suggested the bank, in which the taxpayer has an 82 per cent stake, is holding discussions about finding a successor to current chief executive Stephen Hester, although sources said he was not likely to leave imminently.
Deloitte's hiring of Dave Hartnett, who oversaw 'sweetheart deals' with multinationals, was condemned by Commons spending watchdog chairman Margaret Hodge.
The Commission is thought to be examining sales contracts under which Apple allegedly demanded that no rival be offered a better deal.
The CBI's quarterly services sector survey showed output from the sector, which accounts for nearly 80 per cent of wider economic output, improved by 10 per cent.
Niall Booker, a former senior HSBC manager, will take over early next month as boss of the Co-op bank and as deputy chief executive of the whole group, including its food and funeral businesses.
The Co-op Bank, that boasted of becoming a Big Five challenger on the High Street, is on its knees having been forced to own up to an indeterminate black hole in its capital.
My children have left home and I have always dreamed of taking some time off the treadmill. Am I too old for a gap year? What do I need consider about my finances? We ask our experts how those considering heading out on the road in later life can plan ahead.
The Prince's Trust said it found nearly a third of youngsters believed they would be self-employed in the future, while a quarter said they expected to be their own boss within the next five years.
Private investors are being warned that while the stock market may continue to rise, it will remain highly volatile – as last week’s reverses confirmed. Michael Effemey, pictured, a self-taught investor, is cautious.
PwC's economic adviser Andrew Sentance says that as economic growth slowly shuffles upwards and inflation remains above the target, we could soon see higher interest rates set by the Bank of England (pictured). He says there are growing concerns that low interest rates worldwide, while helping borrowers, are fuelling a stock market bubble.
Business super-scrimpers - this is your time. If you play it right, you can cut your costs dramatically. Andy Yates 40 tips and golden rules to making your small business a success
What is straying into the red costing you? As a third of Britons rely on their overdrafts at some point during the month, could switching save you money from high interest and arrangement fees?
Poor interest rates on savings, a generation forced to rent rather than buy, and disappointment with the performance of pension funds are persuading more people to turn to buy-to-let as a key provider of income. A major survey by The Mail on Sunday among prospective and existing buy-to-let investors indicates most are using, or planning to use, bricks and mortar to generate income rather than capital growth. Buy-to-let is providing Kevin Walter, pictured, with the income he needs to enjoy retirement.
The average cost of a property in the priciest coastal area is now £570,378 – more than triple the average of £162,000 for homes inland.
The gap between supply and demand in the capital was at its largest since spring 2009 - while demand has grown 15 per cent in six months, supply has dwindled by 0.6 per cent.
A routine visit to the doctor marked the start of six traumatic months for Jamie and Sandra Brewster, pictured. But their protection policy brought them financial comfort at a time of great distress. Fortunately, Sandra and Jamie, from Penarth, near Cardiff, had critical illness insurance, which pays a tax-free lump sum if you are diagnosed with a life-threatening condition.
The average home has a total income of £699 a week but is left with just £155 after paying bills and taxes, according to new research.
Some popular theme parks have put up prices by as much as 57 per cent since the start of the cost-of-living squeeze, according to a study
Graeme and Amanda Fearon were allowed to keep their old cheap mortgage they were worried about losing when they moved home. Analysts predict more cheap deals will become available this year - but broker London & Country says it is a ‘dangerous game to hold off’ looking for a new deal.
I read of your success in getting a refund for a reader from carbon credit investment company MH Carbon Limited. I also invested with it and I have lost a considerable sum which I can ill afford.
Government backing is turning hundreds of co-operatives into an alternative to costly lenders.
Alexander and Maureen Buchan, pictured, started saving to pay for a wedding.
Imagine a local bank in your local town, run by local people with some of the profits going back into the local community; I want to see created a multitude of small local banks.
More than 20 years have passed since Georgia gained independence, but the country is still relatively unknown in the West. However, its largest bank is listed in London and is a member of the FTSE 250. Bank of Georgia is fast-growing and well run, and the shares, at 1770p, are worth looking at.
For years after the banking crisis Australia was the success of the world economy, but the wheels look as if they may be about to fall off just as other countries start to recover.
Cambridge-based engineering group Aveva has turned in an impressive performance since Midas tipped the stock in November 2011.
France, with its 10 per cent unemployment, could join Slovenia and Spain in receiving harsh criticism for their failure to tackle their shrinking and struggling economies. Jacques Attali, an influential political thinker, is warning in a new book that failure to bring in reforms rapidly will result in a ‘long winter’ of turmoil and revolution.
The oligarchs, in partnership with the Kazakh finance ministry and the country’s sovereign wealth fund, have to lodge a firm offer by next Monday under takeover rules.
The Blackburn-based firm Graham & Brown was founded in 1946 and exports to 75 countries, last year opening in Libya.
Wool Overs has appointed Clearwater Corporate Finance to find private equity investors to boost its growth overseas. Any deal would value the firm, founded by husband-and-wife team Mark and Clare Shenton, at more than £30million. They started the firm in 1989 as a weekend pastime, selling at equestrian and county shows
Last year there were more than ten billion credit and debit card transactions on UK cards, with a total value of £502billion.
Budding female entrepreneurs have received more than 40 per cent of the money given to 4,000 new companies under the Government's Start-Up Loans scheme.
MarketInvoice allows firms hindered by late payment and subsequent cash flow problems to sell on invoices to investors, who include hedge funds and wealthy individuals.
Shaun Pulfrey, Tangle Teezer's founder, tells of how he overcame the Dragons' Den rejection and his 'hair-brained' idea actually became a £15 million business. His product which combines a comb and a hairbrush now sells across 60 different countries.
There are plenty who promise to make you a big hit on the social scene, but you don’t need to fork out a fortune. All you need is a bit of common sense and enthusiasm to score success.
BrewDog's James Watt and Martin Dicki have delivered a masterclass in the art of getting noticed, from brewing under the sea to distinctive bottles. In just five years that helped build an £11m business.
Showing you are a responsible and stable borrower will make it more likely you will get the best interest rates on loans and credit cards, as well as minimising the chances you will be rejected outright for credit. Aqua, which provides credit card products for those with low credit scores, has identified a number of myths which became apparent following a survey of UK adults.
A quarter of adults leaving British shores this summer told a uSwitch.com survey that they will be using their credit card for purchases, with the same amount saying they will use their debit card.
Almost half of parents admit that their children do not have European Health Insurance Cards (EHIC), while many do not know what it covers, new research has found.
A new tax year means a fresh Isa allowance to save. We pick our five favourite cash Isas for savers, don't miss this essential Isa reading that is kept up-to-date throughout the year.
The Association of Investment Companies has analysed all investment trusts to find the 20 strongest and most consistent performers of the last decade. We reveal the full list.
The bank rate is at a rock bottom 0.5%, and one day it must rise. The big question is when? We explain the factors that will decide when interest rates rise and how quickly, including the latest forecasts from markets and economists.
A five-year fix can be had at 2.49%, and borrowers with smaller deposits are also seeing cuts. So is now the time to lock in?
Property sales are finally on the up, while better mortgage deals are landing regularly. So what now for house prices?
For many buy-to-let looks an attractive income investment in a time of low rates and stock market volatility. Read our top ten buy-to-let tips
| Currency | Rate | Buy now |
|---|---|---|
| Updated 28 May 2013. | ||
| Euro | 1.1469 | Buy Now |
| US Dollar | 1.4821 | Buy Now |
| Australian Dollar | 1.5147 | Buy Now |
| Canadian Dollar | 1.5205 | Buy Now |
| Chinese Yuan | 8.8739 | Buy Now |
| Croatian Kuna | 8.5213 | Buy Now |
| Czech Koruna | 29.159 | Buy Now |
| Danish Kroner | 8.4143 | Buy Now |
| Egyptian Pound | 9.9615 | Buy Now |
| Euro | 1.1469 | Buy Now |
| Hong Kong Dollar | 11.385 | Buy Now |
| Hungarian Forint | 322.57 | Buy Now |
| Indian Rupee | 77.817 | Buy Now |
| Japanese Yen | 150.65 | Buy Now |
| Malaysian Ringgit | 4.4033 | Buy Now |
| New Turkish Lire | 2.7046 | Buy Now |
| New Zealand Dollar | 1.8189 | Buy Now |
| Norwegian Kroner | 8.518 | Buy Now |
| Polish Zloty | 4.6926 | Buy Now |
| Singapore Dollar | 1.8529 | Buy Now |
| South African Rand | 14.118 | Buy Now |
| Sterling | 1.0 | Buy Now |
| Swedish Kroner | 9.6933 | Buy Now |
| Swiss Franc | 1.4264 | Buy Now |
| Thai Baht | 43.179 | Buy Now |
| UAE Dirham | 5.3928 | Buy Now |
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GOPublished by Associated Newspapers Ltd
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Tony Hetherington
Tony Hazell