The Organisation for Economic Development and Co-operation found that average earners in the UK will retire with a state pension worth just 32.6 per cent of their working income. Only Mexicans, with 28.5 per cent, are worse off, with the Dutch topping the table of the 34 OECD members with a replacement income rate of an impressive 90.7 per cent.
My son has been working for me for the past six years, unfortunately after a bright start he is slacking. What should I do? Have your say in Money Morals.
The Money Advice Service estimates that 8.8m people have fallen at least three months behind with their bills in the last six months or feel their debts are a heavy burden.
Many British expats who bought in Spain believed they would be living in a thriving community, like the Reades (pictured). Instead, they exist on a permanent building site. The couple from Banbury, Oxfordshire, have been told the local government have deemed their home illegal, and for the past seven years they have lived in limbo.
More than a third of couples are buying a house together in the belief it is the best way to show their commitment to one another new research has found.
Some 690,000 ordinary investors bought Royal Mail shares at 330p in the recent floatation, and those who held onto them are sitting on a 69 per cent gain today.
The breakdown of economic performance is likely to fuel fears Britain is too reliant on consumer spending while trade struggles, suggesting the recovery is unbalanced.
Nine of the top 10 cities for jobs are in the South, while nine of the worst are in the North, said classified ad search engine Adzuna.
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Calendar quirk leaves tens of thousands of retired miners out of pocket
And stuck in bitter row with taxman
ASK TONY: New smart meter that never was and a £1,512 bill
First Utility was due to install it but nobody arrived
British pensioners lured into spending life savings on 'condemned' Spanish property
'Our £139,000 home will be razed any day.'
Could you make thousands a year from a fancy shed?
How to profit from the trend for quirky guesthouses
Royal Mail shares: What you need to know and latest price
Royal Mail shares have soared, but should you hold, sell or even buy more?
Get a free money makeover this week
How to get yourself some free financial planning
Shawbrook Bank launches leading one year fixed-rate savings account
Hope for savers that short-term deals may now edge higher
Ovo Energy offers new cheapest fixed tariff
Yet another reason to ditch the Big Six
Spanish expat victims of corruption on a monumental scale
James Coney on the mindless cycle of destruction
Santander personal loans cut to 4.6%
Yet ANOTHER all-time record low
Je suis un crowdfunder
Seedrs gives British investors and entrepreneurs chance to tap Europe
Time for the children of the apocalypse to up their game?
Businesses that thrived in recession may come unstuck in recovery
Shares of NMC Health, the first Abu Dhabi company to be listed on the LSE in April 2012, soared 39.5p to a record 420p on Wednesday. NMC is the largest private hospital chain in the United Arab Emirates and has three existing facilities in Dubai and one poised to open soon. The government mandate has stipulated that employers will have to provide health insurance for every worker, with the law to be implemented in 60 days.
Doubled profits, a good dividend promise and the chance that the Queen's head could end up overseas have encouraged international investors' involvement.
MPs demanded an explanation for the rock bottom interest rates and accused the mutual of using the 'hard-earned cash of millions of savers for political gain'.
'I've been very committed publicly and by our board to be profitable next year [ending December 2014],' says Kreeger (pictured).
The energy group employs 9,600 in the UK but is expected to slash further roles over the next two years.
The boss of Royal Bank of Scotland has pledged to tackle head on allegations it 'systematically' profited on the back of vulnerable customers.
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FIVE FAVOURITE ISAS
I run a small manufacturing business and my 35-year-old son has been working for me for the past six years, unfortunately after a bright start he has stopped pulling his weight. If this was anyone else I would be looking to replace them. Ideally, I want a family member to run the business but not if it is going to prove to be its downfall. What should I do? Have your say in Money Morals.
Spanish officials have embarked on a huge marketing push to flog some of the nation’s estimated three million empty properties. But, at the same time, the country's official register of houses includes many been built without planning permission and are at the centre of a huge legal row. Margaret and Peter Hegarty (pictured) ended up with an illegal villa in Andalucia.
Governor Mark Carney said it would be wrong to raise rates given the economy is still 2.5 per cent smaller than it was in 2008.
When mortgages are cheaper it frees up extra cash, which borrowers can use to whittle away their debt, and homeowners can still take advantage of overpaying.
First Utility was due to install my smart meter, but nobody turned up. They claim it was connected when I was out, but both gas and electric meters are inside my property. Now I find my electric bill is supposedly £1,512.70, even though I was away for 11 weeks this summer and I was expecting a credit of perhaps £300.
Investors who put £1,000 into Cazenove UK Smaller Companies three years ago will have seen it hit £2,120, but the fund is closing on January 22.
Cheshire-based United said it would use part of a £75million net tax rebate to offer the £20million discount to its customers.
Do you have dreams of throwing in the day job and moving to the countryside, growing their own veg, and setting up a bed and breakfast in an idyllic rural village or seaside town? Luckily, unusual places to stay are all the rage and that means a caravan in your back garden, converting a shed into a guesthouse, or letting out rooms is a money-spinner.
Challenger bank Shawbrook has launched a new one year fixed-rate savings account this morning offering savers the chance to snap up a 1.95% rate. It bucks the trend of only longer term fixes increasing - could providers now battle it out to top shorter term offers?
A number of building societies are launching new regular savings plans which mature in November next year. The rates are better than on easy-access deals. But don’t be fooled by the Christmas label — you can do better on other regular savings accounts.
Royal Mail shares have soared by almost 70 per cent from the offer price of 330p. Yet while Royal Mail shares have soared as high as 595p after listing, one investment bank that worked on the float says now may be the time to sell. On the other hand latest results have revealed profits almost doubling in six months. We round-up the essential reading.
NatWest has launched a new First Saver account aimed at those aged under 16 and have brought back its infamous piggy bank range from the 1980s.
If the Spanish authorities want to restore faith in their housing market, they are undermining these efforts by this mindless cycle of destruction.
Jez Rose, a behaviour change consultant, explains why smaller firms that survived by being frugal will need to reassess their strategy to grow in recovery. He says that despite having thrived some might find that as the economy improves, life actually gets tougher as they lose ground to more gung-ho newcomers.
Equity crowdfunding website Seedrs has launched across Europe, giving would-be entrepreneurs access to millions more potential investors. Small businesses will be able to pitch for investment in the UK and overseas, while home-grown investors have the opportunity to invest in European start-ups.
Accountancy firm Wilkins Kennedy said the level of personal bankruptcy in some coastal towns was now double the national average of 25 cases per 10,000 adults each year. Coastal towns also dominated the top 50 areas for personal bankruptcy levels accounting, for more than a third (21) of the worst-affected areas.
Buy-to-let landlords are artificially boosted by tax breaks that deliver a taxpayer subsidy of up to £5.2bn for their investments, a new report has claimed.The ability to offset mortgage interest against income tax bills on rent, combined with the loopholes that slash capital gains tax, have been attacked in a new report.
I have an agreement with my local council to pay the outstanding amount of my mother's care fees monthly. I have heard that they cannot charge interest until her property is sold. Is this right? I'm also struggling to find out exactly how much is owed and how much interest is accruing.
In a campaign spearheaded by shadow chancellor Ed Balls, the Labour Party is desperately trying to shift the responsibility for the Co-op debacle.
Ross McEwan, the new chief executive, was forced to ask the bank’s long-time legal adviser Clifford Chance to investigate the treatment of customers in distress.
The offer from the oil and gas explorer and producer requires a minimum investment of £2,000 and the official deadline is 6 December. But retail bonds can close early if they prove popular enough to meet firms' fundraising targets quickly. EnQuest launched a 'top-up' offer on an existing retail bond returning 5.5 per cent last Wednesday, but this has already closed.
The full state pension could be worth £11,485-a-year by 2026 if it was to rise by the triple lock, but just £10,901 if it rose by average earnings, This is Money can reveal.
Rather than pumping cash into pension funds that they'll never see again, there has been a rise in firms using their assets to reduce small pension deficits.
A research campaign by Friends Life found that just over half of over 40s say they wish they had put more into their pensions when they were younger.
Small provider Ovo Energy launches a new energy tariff offering the cheapest fixed deal on the market. With the top of the best buy tables now dominated by small suppliers will it be enough to persuade households to switch away from the Big Six?
Energy bills will drop by just £50 a year to cut back green and social levies on household bills, according to sources. But industry regulator Ofgem warns that the Big Six energy firms profits have multiplied five-fold to more than £1bn since 2009.
Faced with the suggestion that the Bank's credibility had been compromised by uncertainty over the flagship policy, Mr Carney said Conservative MP Brooks Newmark had suffered 'a total failure of logic'. The guidance pledges that policy-makers will not consider raising rates above 0.5% before unemployment falls to 7%, but uncertainty over when that is likely to happen has drawn criticism that it is instead causing confusion.
Shares plunged 37 per cent as it issued its second profits warning in two months, blaming a slump in the price of gold, a fall in lending and a 'competitive market'.
The owner of more than 560 buildings in London hailed on Wednesday the Olympic effect after welcoming a host of tenants and visitors since the 2012 Games.
ENRC had filed a claim for breach of duty against Judge, who is an Aldermanic Sheriff of the City of London, a traditional stepping stone to the Lord Mayor's job.
Homeowners wanting to ignite their propertys value and selling potential might consider investing in a working fireplace this winter. The appeal of a natural fire is not just the warm glow it adds to a living area - with gas and electricity costs on the rise by as much as 10 per cent, a solid fuel fire can even save money on heating bills.
Santander is the latest in a string of providers to slash the rate on its personal loans, now offering a record low rate of 4.6 per cent - but only until 4 December.
Civitas argued that National Insurance is 'no longer fit for purpose' and everyone in work should be forced to save into a private pension to pay for rising old age costs.
It launched today market-leading one and three-year fixed-term savings accounts of 2.15 per cent and 2.75 per cent respectively, and a two-year fixed rate which at 2.25 per cent is near the top of the best-buy tables. A cash Isa, predicted to be another market-leader, is due to be launched in spring. Although credit unions are typically local organisations, My Community Bank will run entirely online so that it can operate on a national level.
PriceWaterhouseCoopers said non-mortgage related debt grew by 4 per cent (equivalent to £8.5billion) in the past twelve months to £216billion.
The level of the cap is unknown at this stage, but will be set by the Financial Conduct Authority and will cover not just the interest, but also the fees charged on top.
The Government has today sold nearly £900m worth of student loans to a private firm which could worry those with outstanding student loan debt.
The UK’s biggest building society will launch the so-called core capital deferred shares to investors with the lure of income payments in the range of 9.5% to 11.5%. The shares will allow Nationwide to raise money from external investors without compromising its mutual status.
The new regime is intended to stop fund managers splashing out client's cash on services they might not pay for if it was coming out of their own pocket.
Young drivers are being targeted with fake car insurance deals from fraudsters which are not worth the paper they are written on, sparking a new awareness campaign.
In a withering attack on local government pensions, the Centre for Policy Studies has suggested ten changes that could be made to save £860million.
If you want your house to be worth more money, it's time to stop driving to the nearest giant Tesco and head for the High Street butcher instead. An old-fashioned High Street adds substantially to local house prices, American Express says, with homes worth £40k extra over the past decade and more to come.
Telematics is seen as a great idea for young motorists who struggle to get insurance. But it's also a potential solution for older drivers too, with experts saying even drivers in their 50s like Jeremy Clarkson could benefit.
A report by AXA UK reveals one in five people surveyed had been cold-called by these firms by phone or text in the previous 24 hours.
The City watchdog said it was looking into potential conflicts of interest where price comparison websites are paid by companies to feature their products.
Petrol prices have continued to fall in November meaning drivers are now paying the lowest amount to fill up since February 2011, according to the latest AA Fuel Price Report.
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Its two year fix has been boosted by 0.33 points from two per cent to 2.33 per cent while its five year fix is now at 3.15 per cent, up from three per cent. At the same time, another challenger bank Shawbrook, has increased its two year fix to a new 2.3 per cent rate.
Leeds Building Society has launched a 10-year fixed rate savings bond paying 4%. When the option of 4 per cent savings deals was on the market in August 2012 - you could match this rate with a fix of just three years. So is it deal or no deal for suffering savers?
Stop the costs of hitting the slopes snowballing out of control with This is Money's top tips for bagging yourself a ski-holiday bargain - covering everything from the cheapest resorts, when to travel and how to get your kit to your resort for less.
To clear the average national household debt of £13,000 at 6% interest with a monthly repayment of £100 will take around 17 years. There are, however, plenty of simple ways to make significant savings on your regular spending that could clear your debt - or boost your savings - in less than a year. This is Money's top 50 – updated – money-saving tips may appear light-hearted but are deadly serious.
You could get 12 months free unlimited internet with Tesco Broadband, if you sign up for its home phone services, but the offer only lasts for two weeks so should you get in there quick?
The cheapest fixed-price plans for gas and electricity, which promise to freeze the unit price, are rapidly becoming more expensive as suppliers pull the best rates.
Millions of people buy gift cards and vouchers - with the value of sales expected to reach £5billion in 2013 - but a large proportion of these funds sit unprotected.
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.
Royal Mail investors were attracted by the lure of a bumper dividend of 6 per cent or higher. But there are lots of household names with a good dividend yield.
Neil Woodford is stepping down from his funds where he is Britain's favourite manager. We pick five alternative income funds and trusts worth a look.
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. The Bank of England now says the stronger than expected recovery could see the 7 per cent unemployment benchmark arrive sooner.
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
Mortgage lenders have some astonishingly low rates on offer and this is the best time to be looking for a home loan in six years. So should you fix now?
As house price inflation picks up, Savills has released its forecast for areas across Britain. We analyse the latest figures and the prediction for where you live.
Midwives in the UK get paid on average £29,248: so where does your salary fit into the national league table, and how does it compare to the average in your profession? Our table lists hundreds of Britain's jobs from company executives and doctors to van drivers, waiters and textile machine operators.
| Prize value | Winning bond No. | Area |
|---|---|---|
| £1,000,000 | 110NM465374 | Tyne and Wear |
| £100,000 | 187EE207065 | Manchester |
| £100,000 | 176RS978106 | Lincolnshire |
| £100,000 | 159QT036890 | Norwich |
| £50,000 | 63RH553428 | West Midlands |
| £50,000 | 191DH809832 | Greater Manchester |
| £50,000 | 43MJ093284 | Croydon |
| £50,000 | 49BK161200 | Norfolk |
| £50,000 | 211QN594328 | Hampshire and Isle of Wight |
| £50,000 | 37PC596428 | Norwich |
Npower hasn't billed me for 16 months
Do I have to pay bills from more than a year ago?
Sarah Beeny says ditch the estate agent
But would you miss out on the best price?
HSBC best buy 5% deposit mortgages
To step up the Help to Buy battle
Can the best place to live in Britain really be Solihull or Reading?
Simon Lambert searches for the good life
Morrisons reveals its Ocado push for middle-class shoppers
Bespoke cuts of meat and fish to your door and a delivery charge as low as £1
'Special last months with my dad inspired my business idea
The autobiography that tells the story of your loved one's life
Can you get a better 5% mortgage without Help to Buy?
Yorkshire BS and stablemates deliver a boost to small deposit borrowers
It's not up to the media to rebuild public trust in pensions
It's for insurers, says Adam Uren.
Five top UK technology shares to rival Twitter
Is it time to invest in Digital Britain?
House price rises gift £400m to Osborne
Public borrowing falls £200m as stamp duty revenue leaps 46%
Amazon shoppers hit with £49 charge for Prime service
Some claim they never signed actually up to
Which fashion retailer shares should you buy?
Stock experts reveal their festive picks
Fresh sell-off by gold speculators could send price plunging to $1,150
The gloomy prediction from TD Securities
You can get an income without gambling your savings
Fed up of lousy interest rates? Missed out on Royal Mail shares?
50 ways to save money....
...or how to clear your credit card debts many times over in less than a year
Energy bills: As prices rise for winter, is it really worth switching
We show you how to win and where to find the best fixed rate deals
My daughter's identity was stolen by her step-sister
Bills have not been not paid and now she can't get credit. What can we do?
World shares climb towards five-year highs
Investors look forward to more cheap money from the States as the Fed sticks with stimulus
Clever transfers and careful planning could help fund a new luxury lifestyle
How to ditch the UK for sunnier climes
Asda promises £1bn in price cuts to stop shoppers deserting
Shoppers flock to either discounters Aldi and Lidl or upmarket Waitrose
Could cashback help claw back the costs of rising bills this winter?
With price hikes dominating the headlines savvy switching is in vogue
The ultimate DIY investment
Novices urged to self-build to solve housing shortage - and make a big profit
I'm 49 and have hardly saved anything. Should I just abandon the idea of a pension?
Have your say in Money Morals
| Prize value | Winning bond No. | Area |
|---|---|---|
| £1,000,000 | 110NM465374 | Tyne and Wear |
| £100,000 | 187EE207065 | Manchester |
| £100,000 | 176RS978106 | Lincolnshire |
| £100,000 | 159QT036890 | Norwich |
| £50,000 | 63RH553428 | West Midlands |
| £50,000 | 191DH809832 | Greater Manchester |
| £50,000 | 43MJ093284 | Croydon |
| £50,000 | 49BK161200 | Norfolk |
| £50,000 | 211QN594328 | Hampshire and Isle of Wight |
| £50,000 | 37PC596428 | Norwich |
| Currency | Rate | Buy now |
|---|---|---|
| Updated 28 Nov 2013. | ||
| Euro | 1.1711 | Buy Now |
| US Dollar | 1.5912 | Buy Now |
| Australian Dollar | 1.7183 | Buy Now |
| Canadian Dollar | 1.6639 | Buy Now |
| Chinese Yuan | 9.4819 | Buy Now |
| Croatian Kuna | 8.8069 | Buy Now |
| Czech Koruna | 31.407 | Buy Now |
| Danish Kroner | 8.5957 | Buy Now |
| Egyptian Pound | 10.553 | Buy Now |
| Euro | 1.1711 | Buy Now |
| Hong Kong Dollar | 12.198 | Buy Now |
| Hungarian Forint | 340.26 | Buy Now |
| Japanese Yen | 160.72 | Buy Now |
| Malaysian Ringgit | 5.0211 | Buy Now |
| New Turkish Lire | 3.1432 | Buy Now |
| New Zealand Dollar | 1.9297 | Buy Now |
| Norwegian Kroner | 9.5377 | Buy Now |
| Polish Zloty | 4.8014 | Buy Now |
| Singapore Dollar | 1.9701 | Buy Now |
| South African Rand | 15.894 | Buy Now |
| Sterling | 1.0 | Buy Now |
| Swedish Kroner | 10.28 | Buy Now |
| Swiss Franc | 1.4335 | Buy Now |
| Thai Baht | 49.683 | Buy Now |
| UAE Dirham | 5.7911 | Buy Now |
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Easy switching has arrived
Tony Hetherington
Tony Hazell