MONEY MORSELS

Funds boost

SAVERS piled £ 1.7 billion into investment funds in November, according to the Investment Management Association. Britain was the most popular region to invest in, followed by Europe and Japan.

Cover gaps

ONE in four breadwinners does not have life insurance. Some 55 pc of men who are the highest earners at home have no life cover, and 62 pc of women. Research from Moneysupermarket found those working in manufacturing and construction are most likely to have life insurance.

Loan cuts

THE AA has reduced rates on personal and car loans. A typical £7,500 five-year loan has an APR of 3.9 pc on a personal loan and 4.1 pc on a car loan. The total repaid over the period would be £8,253 on the personal loan and £8,292 on the car loan.

Deposit deal

NATIONWIDE Building Society has reduced the rate on its two-year fixed mortgage for borrowers with a 5 pc deposit to 3.89 pc. A £150,000 loan costs £711 a month. This deal is for first-time buyers borrowing up to £250,000 and has a £999 fee. Total cost is £18,063.

Car sale boom

MORE new cars were sold in 2015 than in any year since 2003. Buyers snapped up 2.6 million cars, a 6.3pc rise on 2014, according to figures from trade body the National franchised Dealers Association. It’s largely due to an explosion in car finance credit deals.

Salary drop

WOMEN are paid on average 23 pc less than their male counterparts. Figures from payroll firm Expert Market reveal that the typical male employee earns £29,441 a year, while women receive £23,889 — partly because more women work part-time.

Flood costs

INSURERS expect a £1.3 billion bill from the recent floods in the North of England. Trade body the Association of British Insurers says the average payout is £50,000, compared to £31,000 from the winter storms in 2013 to 2014.

Pension shortfall

COMPANIES that offer staff valuable final salary pensions, which give a guaranteed payout, are forking out £20 billion a year more to retired workers than they receive in contributions from existing employees, according to figures by consultants Hymans Robertson.

Fraud warning

SAVERS are being warned about pension scams. A week-long social media campaign has been launched by pension watchdogs to tackle fraudsters seeking to exploit new pension freedom rules. Advice will be tweeted by @TPASNews and @ TPRgovuk, with the hashtag #protectyourpension.

£150 to switch

CONSUMERS who switch their current account to Clydesdale and Yorkshire Bank are being offered a £150 incentive.

To qualify, customers must also register and activate internet or mobile banking within two months of completing the switch.