60 second news round-up: the top money stories of the week
Savings and investments
It’s been three weeks since the Brexit result was announced and it seems investors are sticking with seasoned managers as the fallout from the vote continues. Following last week’s mass property fund suspensions, Aberdeen lifted its trading halt on Wednesday, but for investors concerned about prospects in Europe there are still reasons to hold European equities.
There was some brief respite for savers this week as the expected interest rate cut failed to materialise, though the 0.5% rate has now been in place since March 2009. However, 2016 been a ‘wipeout’ year for savers and worse is yet to come, according to a data firm.
It appears many over 50s aren’t saving enough and they’re massively misjudging pension pots. If you’ve less than you were expecting, we explain how you can plug your State Pension shortfall. If you’re looking to take out an annuity, we go back to basics to reveal why annuity rates are falling and our guide explains how to get a better annuity rate.
With downpours of rain this week, many of us are already thinking about our summer holidays so if you’re heading to Europe, don’t forget your EHIC, it could prove valuable. We also reveal why your family insurance policy may not cover your children and the best and worst airports to buy last minute foreign currency. If you’re planning a staycation, we list the cheapest UK beach hotspots, though we can’t guarantee the sunshine.