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How is pension investment growth calculated? Steve Webb replies

What pension growth rate should I use as a conservative estimate to highlight what I might expect at 58 (earliest age to retire), 60 and 65? Should I continue paying into my pension pots albeit at a reduced rate as I worry I might breach the lifetime allowance if the growth rate over time does this?

I plan on taking my first step onto the housing ladder in a year's time, using all of my investments to put down a deposit. What's the best way to disinvest ahead of time?

M&S cuts prices on 500 of its most popular food items in supermarket battle 

A bottle of Limestone Coast Sauvignon now costs £7 compared with £10 a year ago, with a family pack of salmon fillets reduced from £13 to £11. It is also selling 20 per cent more Easter eggs for £5 and under compared to last year. Head of food Stuart Machin said M&S; is trying to be 'special and relevant, with prices to shout about'.

I'm looking to get on the housing ladder but have had some money troubles in the past and I'm worried about my credit rating. What should I do to try to improve it before I apply?

Marianne Lake is moving from finance director to run the consumer lending and cards arm. It will give the 50-year-old crucial experience as she bolsters her credentials to succeed boss Jamie Dimon.

In a bumper set of results that sent shares close to record levels, the Anglo-Dutch giant said revenues rose 3.1 per cent to £10.7 billion in the first three months of the year.

EDITOR'S DEALS OF THE WEEK
For current account rewards and interest conditions may apply eg. using provider's full switching service, min deposits and direct debits. For savings, access maybe limited, min/max deposits may apply. See T&Cs. Representative example: If you spend £1,200 at a purchase interest rate of 18.95% p.a. (variable) your representative rate will be 18.9% APR (variable).

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MARKET REPORT: Online lending platform Funding Circle is back on track with £3.4bn worth

Online lending platform Funding Circle was on the rise after revealing it now manages a hefty £3.4 billion worth of loans. Shares climbed 5 per cent, or 15.5p, to 326p, providing some relief for shareholders who have lost out since the stock was listed in London at 440p in October. The company takes in money from investors and lends it to small businesses, and has backed firms ranging from adventure golf bars to bicycle retailers. It lent another £644  imillionn the first three months of the year, including £419 million to UK firms, taking its loan book to £3.4 billion, up 44 per cent on a year earlier.

The Kuwait-backed retail investor enters into the joint venture as Intu looks to cut debt through disposals and part-disposals.

Rentokil Initial has reiterated plans to spend heavily on acquisitions, after a boost from buying sprees in the first quarter. It reported an 8.9 per cent rise in revenue to £603.6 million.

After taxi app Lyft flopped following its initial public offering in March, investors were holding their breath to see whether Pinterest and Zoom Video Communications would follow suit.

In a major challenge to rivals Apple and Samsung, the telecoms giant said it would bring a 5G-capable handset out for just £461 – around half of what analysts predicted such devices would sell for.

Shares climbed 4.3 per cent, or 14.9p, to 363.3p after it revealed a 19 per cent rise in sales to £104.9 million in the first three months of the year.

This means unresolved complaints about switching supplier is now second only to billing issues and the biggest driver of non-billing complaints to the Ombudsman for the first time in over two years.

A total of 3.91million complaints were reported to the Financial Conduct Authority in the second half of last year, down 5 per cent on the first six months.

House price growth slumps to the lowest level since 2012 as London and the South East

The rate of property price growth in Britain has fallen to its lowest level for nearly seven years, new official figures show. Average house prices rose by 0.6 per cent in the year to February, down from an increase of 1.7 per cent a month earlier. With the Brexit saga taking its toll on the housing market, the rate of annual growth has not been this low since September 2012.

Travellers who need to cancel their plans for reasons such as illness or death in the family should be treated more fairly, the Competition and Markets Authority has said today.

New blow for women due to blunder over rise in state pension age

Campaigners are already calling for compensation for women unable to prepare for the loss of income after the Government increased their state pension age from 60 to match men at 66 in 2020 and then to 67 by 2028. Now, Money Mail can reveal how hundreds of thousands of women could find their private pensions are also much worse off due to the change to their official retirement age.

Those who are self-employed or receive bonuses might have to guess their annual income if they invest early, but delaying until the last minute has always felt like a missed opportunity.

Readers have told Money Mail they have found it 'impossible' to speak to the taxman as the latest figures show the department is failing to hit its targets for answering calls.

ASK TONY: My adult son quit his mobile phone deal but got a £1,800 bill after they kept

My adult son is extremely dyslexic and relies on me for help with financial matters. Recently, I spotted he had two monthly payments being taken for his mobile phone, one to Orange and the other to EE, which operates Orange. It seems that, after he terminated a contract on October 31, 2014, monthly payments continued to be taken. I worked out he was owed £1,777.35.

Older motorists facing sky-high car insurance charges due to their age are being urged to save money with new technology that prices premiums simply on how you drive.

A new breed of smartphone apps could help you build a savings habit without even trying. Here we explain how they work - and the catches to watch out for.

I've received a generous lump sum of cash - should I save it or use it to pay down my

We have received a generous lump sum of cash. Should I invest the remainder of the cash or use it to pay off some of my outstanding mortgage?

The new Serious Fraud Office chief has a message for white collar crooks in Britain

Fans of hard-hitting American justice have long dreamed of a British system of prosecuting white collar crime with similar venom and a less deferential approach. Finally, we may have discovered that person in Lisa Osofsky (pictured), the spirited director of the Serious Fraud Office (SFO) who cut her teeth as a young lawyer helping to jail corrupt judges in Chicago who had been quashing mafia murder convictions for $500 backhanders.

The staggering fees are equal to over a quarter of the £154 million value of Non-Standard Finance (NSF), which is trying to buy its much larger rival, the Provvy.

Debenhams chief executive Sergio Bucher has stepped down after the department store crashed into administration and was snapped up by its lenders.

Jupiter Asset Management is expected to support a motion at Barclays' annual meeting next month to make him a non-executive director.

Manufacturing contracted in both countries, says a survey by research group IHS Markit, suggesting a downturn at the end of last year continues.

What a difference ten months makes. Homebase, which was haemorrhaging sales and profits a year ago, looks as though it is on the road to recovery under new ownership.

Instead of holding back on investment, managements may soon be forced to rethink an approach to expansion that doesn't simply rely on the supply of labour.

Backlash after Big Four beancounters dodge break-up pain following review into the audit

Regulators have said forcing the Big Four accountants to split into separate consulting and audit companies would be overcomplicated. Instead, the Competition and Markets Authority (CMA) has called for 'operational separation', where audit chiefs do not get a share of profits from consulting and must answer to their own distinct board.

Andrew Bailey, head of the Financial Conduct Authority, said that he will not tolerate efforts to exploit the Provvy's 2.4m customers if the bid by rival Non-Standard Finance succeeds.

Andrew Bailey lacks the power to directly block the takeover by Non-Standard Finance of Provident Financial. But, as boss of the FCA, he occupies what the Americans call a 'bully pulpit.'

Germany now expects growth of 0.5 per cent this year, half what it hoped for in the last forecast. It would make the country the worst performer in the single-currency area apart from Italy.

The world's second biggest economy managed annualized growth of 6.4 per cent in the first quarter, the same pace seen in the last three months of 2018.

Are the energy minnows out of their depth? Smaller suppliers are taking on the Big Six

Small suppliers are crashing out of the market at an alarming rate, with 11 firms going bust since the start of 2018. Exclusive industry analysis reveals that nine of these firms together owed customers close to £113 million when they collapsed, £26 million of which belonged to customers who had already switched to a new supplier.

If you opened an Isa with a major bank in previous tax years it is likely that your rate has plummeted. Even if it hasn't, you could still earn more elsewhere, with top rates as high as 1.46 per cent.

One of the latest to cut its rate is Shawbrook Bank, which closed its one-year fixed-rate bond at 1.97 per cent yesterday and replaced it with a new version at a much lower 1.65 per cent.

Scammers dupe us out of about £1 million a day - often by convincing victims they are bank employees, telling them their savings are in danger and must be moved.

Regulators at the Financial Conduct Authority are taking aim at the industry, which allows hard-up consumers to borrow money provided a friend or family member agrees to pay it back if they default.

Women retire on pensions a FIFTH of men's - how do you close the gap?

In addition to having lower salaries, women are more likely than men to have career breaks, take part-time jobs and have caring responsibilities, explains financial adviser firm LEBC. It has published a guide giving practical tips to boost retirement savings and help close the gender pension gap.

Frank Field, chairman of the House of Commons work and pensions committee, has written to The Pensions Regulator over the £7.5bn black hole in the Railways Pension Scheme.

Hackers were able to connect to Andrew Teebay's phone after he clicked on a Google Chrome notification that was actually a virus that downloaded malware onto his device.

Could you be in line for a payback from Mastercard? Court revives £14bn damages claim

The legal action is being brought against the card giant by Former financial ombudsman Walter Merricks. He said the maximum payout from the proposed 'opt-out' claim will be around £300 for anyone over the age of 16 and resident in the UK for three months or more between 1992 and 2008. Around 46.2million people could qualify for the payout - including those who have never had a Mastercard, according to Merricks.

It is Bristol where the highest proportion of card payments are swiped, with 73 per cent of 11.5million card transactions in the West Country city using contactless.

What does being an executor mean and what are the risks?

You might feel gratified to be asked by a friend or relative to be their executor, and sort out their will. It's only after they are gone that the trouble can start. Samantha Hirst, a solicitor at Ridley & Hall and a specialist in will disputes, explains how executors can get embroiled in family drama and how best to avoid this - and, if necessary, fight back.

The Great British Entrepreneur Challenge has been bigger and better than ever in 2019 and after a flood of entries, we are proud to announce the shortlist of start-ups who've made the final. 

Reviews, many of which originate from China, are skewing customer searches and choices on Amazon, it is claimed by consumer watchdog Which?.

Brexit has caused summer holiday prices to beach destinations to be cut falling by up to a

Brexit uncertainty, alongside a more competitive holiday market and the aftermath of the slow end to last summer has resulted in year on year package holiday price drops to a number of European beach locations this Summer, according to Travel Supermarket.

Golf in Britain has an image problem with bans for women, youngsters shunning it and a stuffy heritage - but behind the scenes plans are afoot to modernise the sport. This is Moneyball reveals all

From yesterday the bank has committed to covering its 5.2m customers against all types of transactional fraud losses, including cases where customers are tricked into authorising payments to fraudsters.

Help! My husband secretly gambled away his entire pension

My husband has worked for his company for 21 years and is due his pension, but he confessed he has accessed it early and all the money is gone. I searched his bedroom and found letters from the pension firm, but they were addressed to his mother's house. This is the final straw for me and I am now going to pursue a divorce. Would a judge award me half of a pension that no longer exists via a higher share of the equity in our house? Barrister Rhys Taylor replies.

The average price of new-to-the-market properties increased by an average of £3,447 in April, equivalent to 1.1 per cent, making it the biggest month-on-month increase since March 2018.

Landlords will no longer be able to evict tenants at short notice without good reason under a major housing shake-up. The move is aimed at ending the threat of so-called 'no-fault' evictions

Don't be the loser who only opens his Isa at six minutes to deadline

The advent of spring is not just a time to enjoy the abundance of flowers, longer days and watching newly-born lambs in the fields. It is also when smart investors can take advantage of new allowances to give investment portfolios a fillip. This is because April marks the start of a new tax year and with it a fresh set of incentives to boost taxfriendly investing via pensions and Individual Savings Accounts.

For decades, we have campaigned to break the stranglehold of the Big Six energy suppliers and boost competition so customers can get a better deal.

A first issue of The Beano comic recently sold for £8,700. Launched in July 1938, it featured well-known favourites Lord Snooty and his Pals.

How 'split-ticketing' can slice 30 per cent off your rail fare 

Train users can beat rising fares by buying separate tickets for a single journey, often cutting the cost of travel by a third. Experts estimate that the average saving is 20 per cent. This little known trick is called 'split-ticketing'. There is no need to pass through ticket barriers mid-journey. All that is required is that the train stops at the station from where one ticket journey ends and the next begins. In the past the only obvious way to find all the ticket options available to you was to download an app.

How just £50 a month will give your grandchild an £18,000 gift on their 18th birthday 

It is a sign of the times that when a new child is born, many parents and grandparents start thinking immediately about how they can help the little one face the big financial challenges that await them. These hurdles may be some years down the line - for example, paying for university and putting together a deposit for a home - but saving early is essential. And it can be done with the help of a special tax perk - a Junior Isa.

Although I normally have little time for the pontifications of the Organisation for Economic Co-operation and Development, its latest report is required reading.

Although Securities Trust of Scotland has underperformed its global equity income peer group over the past three years, it has outperformed them over the past year.

Cashless society? Fine... until you lose your wallet as our Personal Finance editor found

Slowly but surely, like a Number 9 bus, we are moving towards a cashless society where plastic and payment apps rule. Move over bank and building society branches run by tellers with friendly faces. Tatty bye. Adios, free cash machines and free crisp £10 notes - with big ATM operator Notemachine just announcing it could start charging just under a £1 for withdrawals at many of its 10,500 cash machines. And hello contactless payment, Apple Pay, Paypal, Google Pay, Samsung Pay, Paym, Uncle Tom Cobley and all.

MPs are in a Catch-22 situation - where fighting for a boost to the pensions of hundreds of thousands of older Brits living abroad means denying an increase in social benefits for people at home.

Bake Off winner Sophie Faldo says she'll never be able to afford her own home

Sophie Faldo, winner of Great British Bake Off in 2017, expects that she will never earn enough to be able to buy her own home. The 35-year-old former soldier, who served in Afghanistan in her 20s, currently rents a home in Surrey with boyfriend David and cats Loki and Odin.

How much money do I need to save for my pension?

The amount you can save into a pension ultimately depends on what you can afford - but the longer you leave it the more you will need to save. We tend to put ambitious targets on our hoped-for income in retirement and then underestimate how much we will need to set aside to achieve that. So how much should you save?

Each week we pick out our favourite financial deals to slash your outgoings and make your money stretch further. This week it's savings accounts, a top travel credit card and best-buy mortgages.

Pick the best (and cheapest) investment Isa platform

Choosing the right DIY platform is crucial but a wealth of choice and changes to charges have left many investors scratching their heads. We pick some of the best. We also highlight why investing in an Isa makes sense, as it should protect your hopefully growing investments from tax forever.

We asked trusted experts to recommend the best funds that cover different investment sectors - and included This is Money's selection of active and passive options too.

Rightly or wrongly, some people simply want a quick, straightforward route map to investing in an Isa. To that end, this is our distilled guide to getting started.

When will UK interest rates rise?

The Bank's ratesetters have joined the rest of Britain in awaiting what happens with the country's departure from European Union. Rates were held at the last MPC meeting, with an Inflation Report indicating slower growth in the near future and an easing in rate rise expectations. Barring Brexit chaos, another Bank Rate rise is still expected this year, taking interest rates to 1 per cent.

What next for mortgage rates?

The long-running mortgage lender price war continued into the New Year and shows no signs of abating as homeowners put off moving until after the effects of Brexit become clear.

Ten tips for buy-to-let: Essential advice for property investment

Buy-to-let is much tougher than it once was. A tax crackdown on buying properties and a tax raid on the rental income from owning them has seen to that. But for many Britons the idea of investing in property still appeals, as they trust bricks and mortar and may feel that they can add value to a property. Read our top ten tips

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