Don’t fall for ‘too-good-to-be-true’ scams
QI’VE been contacted by a firm offering me a guaranteed 8% return on a property investment abroad.
I’m over 57 and have pension savings I can access.
This is the best interest rate I’ve seen for years and I’m tempted.
AON THE first death that share of the property simply falls into the property THE golden rule is this: If it trust. The surviving spouse seems too good to be true, can remain in the property. it usually is. I’ve read lots of However, it must be horror stories about people maintained and kept in good losing their pension funds to repair. this type of scheme.
Q Before taking up any I HAVE paid National investment option you should Insurance contributions check the Financial Conduct for more than 50 years. Authority’s website for scam I was opted out for five alerts and advice (fca.org.uk/ and have found out my state scamsmart), and you can ensure a firm is FCA registered at register.fca. org.uk
QMY HUSBAND and I own our property as tenants in common in a trust.
Upon death, I think each share is split between our adult children.
Can you remind us what happens on first death?
AAIF YOU can’t pay your mortgage your home may be repossessed without some sort of cover.
Therefore, first you should consider having appropriate and sufficient income protection, and possibly redundancy cover depending IN 2016 the state pension on your occupation status. saw a big change. While
Q the aim was to make the INSTEAD of buying system fairer for all and Christmas presents for easier to understand, it can the grandchildren we want still be a minefield – and some to start savings accounts to retirees have lost out from help their financial future. the changes. Can we do this or do we
It may be worth checking need their parents to open your NI record by requesting accounts for them? a statement from HMRC. You can do this at gov.uk/checknational-insurance-record or call 0300 200 3500.
Also, try the Pension Service on 0800 731 0469 to check your pension. pension will be lower due to this. I thought you needed 35 years of NI to qualify for full state pension, I’m still in excess of that.
AQI’VE just bought my first home. Is now the time to look at taking out life insurance, or should I be considering another product to protect my finances?
AIF YOU want the accounts to be in their own names then most require the parents to initially set them up.
Thereafter, you can usually contribute without notice.
Be aware there are often financial limits on what you can save in different types of child accounts.