Cheryl Macleod - ne Eames

27/05/2026

Your pension is primed to let you down at the worst possible time
Some of the most popular workplace funds aren’t even keeping pace with inflation
May 26 2026, The Times
If you are approaching retirement you probably have a pension you have forgotten about, or maybe two. Possibly even three. Each one in a different workplace scheme, chosen by a former employer through a negotiation you were never part of, invested in a default fund you have never looked at, earning returns you have never compared with anything.
The system was clearly not designed to help you find out about, or monitor performance. If it had been there is no way the dreadful figures on pension performance in the five years to retirement would have been allowed to stand.
The analyst CAPAdata tracks the performance of UK workplace pension default funds and its figures show what has been happening to workers’ pension returns in the five critical years before they retire, known as pre-retirement. This is when the stakes are highest and there is little time to recover from a bad decision.
• How 49 people control £168bn of our workplace pensions
They should alarm anyone who has a pension in this country.
The best performing pre-retirement fund in the dataset over the five years to March 2026 was the SEI Flexi Default, growing at a compound annual rate of 9.5 per cent — impressive. The worst was Scottish Widows, at a miserable 3.6 per cent a year, a rate that did not even keep pace with inflation.
Many of the names that you are likely to recognise are clustered at the bottom. The Legal & General Target Date fund, one of the most widely used defaults in the country, averaged 3.6 per cent a year. People’s Pension, covering millions of lower and middle-income workers through auto-enrolment, averaged 3.8 per cent. Royal London averaged 4.6 per cent.
The industry average five-year return was 5.5 per cent a year and every one of those household names was below it. These are the funds millions of British workers were placed into, without their meaningful input and without anyone being required to tell them how their fund stacked up against the alternatives. Oh, and those figures are all before charges. Which makes them worse.
Consider what was happening to prices and investment markets globally during those same five years. UK cumulative inflation ran at about 30 per cent, or about 4.85 per cent a year, one of the most punishing inflationary periods since the 1990s.
Meanwhile comparable UK investment funds were delivering far stronger returns. The opportunity was there within the mainstream UK investment universe, why did it pass so many savers by?
It does not require your employer to explain why they chose it. The Pension Schemes Bill will introduce a value-for-money framework requiring funds to publish comparable performance data, but it is not expected to be fully operational until 2028.

23/05/2026

Interesting reading for renters with no income evidence trying to get on housing ladder. Other lenders are available.

Andrew and Justine Boniface had to rent after moving back to the UK from Spain. They were desperate to buy, but couldn't get approved for a mortgage

14/05/2026

If you need any help with life cover or other protection plans. Please contact us:

Most new parents’ main concerns are about sleep, having enough nappies and getting the right car seat. But after Kara Gammell’s daughter was born, one of her main priorities revolved around her insurance policy. Gammell, 46, from West Sussex, wanted to make sure that Audrey, who is now 13, would...

23/04/2026

🎉We’re in the FINALS!! 🎉
Please add your vote in the Best Arts, Culture & Theatre category in the Dorset, Somerset & Bristol Awards for the Dulverton Exmoor Literary Festival! 📚Just click on this link to vote for us. Every vote counts! 🙏 We’re so proud to be Finalists 🥹🥰
https://dorsetsomerset.muddystilettos.co.uk/awards/vote/

22/04/2026

DULVERTON ACTION GROUP

Litter-picking

usually 3rd Sunday of the month
Come & join us –
more hands needed!
Sunday 17th May
Sunday 28th June
(4th Sunday to avoid Secret Gardens)
10.30 meet by the Heritage Centre
Everyone welcome!
~ and all kit supplied ~
For enquiries call Magdalena
on 323 785 or 07929 761 958

04/03/2026

Diaries at the ready! 📅
Here’s our little flyer of many of the events taking place here in Dulverton this year!
Do use the QR code to take a closer look (just point your smartphone camera at it and it’ll give you a link to our events calendar)

18/12/2025

It could soon be easier for first-time buyers and the self-employed to get a mortgage

Mortgage regulator wants to modernise its rules First-time buyers, self-employed individuals, and older borrowers could soon find it easier to access mortgage finance as the City regulator prepares to modernise its rules, aiming to reflect contemporary living and future societal changes.

The Financial Conduct Authority (FCA) has declared its ambition to cultivate "the mortgage market of the future", envisioning a system that adapts to rapid technological advancements, evolving employment patterns, demographic shifts, and the lifelong needs and expectations of people, including into their later years.
The regulator plans to commence consultation on proposed rule changes from early 2026, with the initial amendments anticipated to be in effect by late that same year.

Its strategy is centred on four key pillars: supporting first-time buyers and underserved customer groups; enhancing later life lending options; promoting innovation and transparency in disclosures; and safeguarding vulnerable customers.

It will also launch a market study to consider how the later life lending market could develop to meet different needs, with terms of reference being published in the first quarter of next year.

It will also explore ways to improve advice to help people plan for later life and ensure the lifetime mortgage market can meet changing needs.
The use of technology such as AI (artificial intelligence) will be encouraged, to help brokers give better and faster advice.
The regulator will also look at ways to make advertising and disclosure rules simpler, helping people to understand information online more easily.
The FCA also plans to work with others to support people affected by financial abuse and help those using a mortgage to manage or consolidate debt.

The regulator published feedback to its discussion paper on the future of the mortgage market. It said there was “wide agreement” that some potential first-time buyer groups could be better served.
The statement said: “This includes those who cannot raise a large deposit, do not have family support, are self‑employed, have irregular or contract‑based income, are recovering from a negative life event, have overseas assets and income, or have dealt with a credit impairment.”

The FCA said it had asked if it should update its interest‑only rules to support first-time buyers. Interest-only deals allow people to pay just the interest on the mortgage each month, meaning that a borrower will still need to repay the amount borrowed at the end of the mortgage or when the property is sold.
Since 2013, sales of any kind of interest‑only product to first-time buyers have been less than 0.5 per cent of all sales.

The FCA said those responding had told it that part interest‑only and part repayment mortgages could enable some first-time buyers and other consumers to access homeownership earlier.
Its statement said: “Our framework currently treats part interest‑only in the same way as pure interest‑only.
“We will consider proposing a differentiated affordability approach for certain part interest‑only lending.”
Some organisations had also encouraged the regulator to review its requirements and widen what constitutes a credible repayment strategy, including the option to consider later life mortgages.

This could potentially widen mortgage availability to certain customers, including middle‑aged borrowers for whom a full repayment mortgage may no longer be viable, the regulator said.
Some organisations have also pointed to “low start” mortgages as an option to support certain first-time buyers and underserved customers.

These mortgages could start as pure interest‑only and convert to repayment after a set period and are seen as particularly suitable for customers with high expected salary growth. The regulator said it will consider updates to the treatment of potential future increases to income.
The FCA will also look at moves to support industry innovation and adoption of rental payment data in firms’ affordability assessments.

12/09/2025

You must visit this lovely shop in Dulverton.

I have been busy refurbishing more lighting and have finished these three stylish floor lamps.
Left to right...

Danish Afromosia with a simple brass band in the middle with original grass cloth shade.

Geometric styled Mahogany lamp with a new shade made from vintage fabric.

Teak and brass lamp with original Hessian shade with brass trim.

Message for more details

20/08/2025

With Visit Dulverton – I just made it onto their weekly engagement list by being one of their top engagers! 🎉

10/08/2025

Historian Andrew Lownie has made some unflattering claims in a book about Prince Andrew.