AGP Executive Report
Last update: 9 hours agoUK Retirement & Benefits: DWP says new State Pension payment rates for people retiring this year will be paid weekly/fortnightly/four-weekly, with the New State Pension up to £241.30 a week and the Basic up to £184.90, while pensioners are protected from upcoming cash ISA allowance cuts. ISA & Cost-of-Living Cash: Rachel Reeves confirmed the cash ISA limit will fall from £20,000 to £12,000 from April 2027 for under-65s, and also confirmed £200 summer cost-of-living payments plus Crisis and Resilience Fund support via local councils. Savings Rate Race (UK): Revolut is offering new customers a 5% variable instant-access savings rate (promo until Dec 4), while Nationwide’s Fairer Share will pay eligible members £100 from June 10. Banking Growth (South Africa): Old Mutual’s OM Bank hit 473,000 customers and nearly doubled retail deposits as integration with Old Mutual Finance stays on track. Tax Crackdown (Pakistan): FBR plans an Oct 1 crackdown on non-filers flaunting luxury on social media, using data from banking and credit card activity. Credit & Loans (India): Equifax reports retail credit AUM up 16% to ₹162 lakh crore, with gold loans leading growth; Bajaj Finance pushes a personal-loan eligibility calculator. Personal Finance Warnings: Monzo launches a credit card aimed at people with poor credit, while multiple stories highlight credit card debt traps and fraud risks.
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