Plus: working for a fusty old firm adds 1m to your pension

Wednesday, June 5, 2019

Telegraph Money 

The week's most important personal finance news, analysis and expert advice, from pensions and property to investment ideas and savings tips.

The Telegraph take

By Sam Barker personal finance reporter

On Monday the City was shocked by the suspension of trading in the giant Equity Income fund run by Neil Woodford, the star fund manager once dubbed the "British Warren Buffett".

The decline of the once-feted Woodford is a warning to all investors that even the sagest of investment gurus can, and do, get it wrong.

Telegraph Money also discovered that the trend towards working for hip start-up companies can have a sting in the tail when workers reach retirement and find their pots are smaller than expected.

Meanwhile, reporter Adam Williams reported on the collapse of peer-to-peer firm Lendy and asked if the shine has worn off the sector.

Days later the City watchdog unveiled plans to ban new investors from putting more than 10pc of their wealth in peer-to-peer.

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You have the last word...

Roz Adams said about Butcher, baker, candlestick maker? Here are the jobs that earn you a better mortgage: "Interesting to see barristers accommodated by some providers. Because most are classed as self-employed and have a complex earning structure (primarily due to aged debt), they are often shunned by conventional lenders. Early-career barristers often therefore end up seeking costly private mortgages."

John Giles said about Digital tax system blamed for surge in HMRC fraud: "New rules should be applied to telephone companies in the UK. It should be a criminal offence to spoof caller ID - users should only send valid caller ID or withhold caller ID."

Kev Grock said of FCA could ban funds from owning any illiquid assets after Woodford fiasco: "The only action that would be reasonable here is for a transparent publishing of the investment vehicle's allocations or an upfront binding agreement of maximum allocations, such as a maximum percentage allocated to illiquid assets."

Julian Niemeyer said of Landlord fightback: pressure groups battle to retain 'no fault' evictions: "Coming at a time when we are told homelessness is increasing, as is the number of people living in temporary accommodation, this continuous onslaught of anti-landlord legislation (limits to interest tax relief, no charges and now this) seems particularly badly timed."

 
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Contact us: to pose a question to our team of expert reporters, email moneyexpert@telegraph.co.uk. If you'd like a free financial plan, email money@telegraph.co.uk with the subject 'Give me a Money Makeover'.

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