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Three 'zombie' financial products to look out for.

WITH Halloween approaching, you might want to watch out for any "zombie" financial products you may have lurking, giving you low returns for your cash or charging you high fees.

Danny Cox, a chartered financial planner at Hargreaves Lansdown, tells us the types of products to look out for: | Child trust funds THESE accounts were succeeded by Junior ISAs, launched in 2011. In some cases, child trust funds are more expensive, have lower interest rates and less options than a Junior ISA. | Old personal pensions COMPARED with modern versions, older pensions (particularly pre-2000) can charge more for less. But do check if you are entitled to benefits that were offered within older pensions - guaranteed annuity rates for example. | Instant access cash accounts AROUND 80% of people haven't moved their instant access cash account for three years, leaving their savings to lose value once inflation is taken into account. For those unlikely to rate-hop for the best buys, fixed-rate accounts can offer improved rates, and the stock market could be considered for some of your longer-term cash.

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Shop around for children's accounts

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Title Annotation:Features
Publication:Coventry Evening Telegraph (England)
Date:Sep 29, 2017
Words:183
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