The deadline to backfill your pre-2016/17 state pension contributions is nearing. When the new state pension was introduced in April 2016, the government offered a temporary opportunity for some of those who did not have a full record of national insurance contributions (NICs) record to make up for their shortfall, even if they had already reached State pension age. It has always been possible to ‘backfill’ NICs for the six immediately previous tax years, but the government’s

The government’s budget watchdog says more tax rises are not only on the way but are expected for the next 50 years. The Office for Budget Responsibility (OBR) normally comes into the spotlight when the Chancellor is presenting the Autumn Budget or a Spring Statement. However, between those two set pieces, the OBR regularly produces assessments on the state of the government’s finances. Once a year it takes a long-term view – as far out as 50 years – on where public debt is h

In theory, high inflation should mean high interest rates for student loans. But it is not that simple. The Retail Prices Index (RPI) is no longer used as a National Statistic, but the government still finds uses for the index when the results work in its favour (because it is usually higher than the Consumer Price Index (CPI)). One good example is that the RPI forms the basis for calculating interest on student loans throughout the UK. The starting point for interest rates f

Recent research has cast a new light on retirement spending habits. Do you expect your spending to reduce gradually once you retire? It is often thought that as people pass through retirement their spending falls, assuming they do not have to pay for residential care. However, fresh research by the Institute for Fiscal Studies (IFS) using recent UK population data suggests this is not what happens. It appears that earlier investigations may have been mistaken in their approac