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SHIP: Pensioners face ‘major issues’ to fund social care
Friday, March 12th, 2010
Two-thirds of pensioners do not have adequate finances to meet their social care costs.This is the view from the Liberal Democrat party following research into the subject which revealed 66 per cent of the UK's pensioners will face difficulties in meeting the payments.Commenting on the research, SHIP, the equity release ... read more
Millions in debt to energy suppliers
Friday, March 12th, 2010
More than five million UK households are now in debt to energy companies, it has been claimed.Consumer advice service uSwitch.com said the recent cold snap, coupled with average price increases of 16 per cent, has resulted in 5.5 million customers owing money to their suppliers.According to uSwitch, the total outstanding ... read more
More schemes taken in by PPF
Thursday, March 11th, 2010
Seven more pension schemes have been added to the Pension Protection Fund (PPF), it has been announced.The schemes were taken "under the wing" of the PPF in February, taking the total amount of schemes under PPF protection to 120.According to the PPF, the transfers mean an additional 2,535 people in ... read more
uSwitch: Energy price cuts are disappointing
Thursday, March 11th, 2010
Price cuts made by the major energy suppliers over recent weeks are disappointing, it has been claimed.Consumer advice service uSwitch.com has voiced its concerns as despite the cuts, energy prices are still "far higher" than they were two years ago.The organisation also showed disappointment that all of the new tariffs, ... read more
UK’s biggest employers in pension scheme deficit
Thursday, March 11th, 2010
Some of the country's biggest employers are currently burdened by some of the biggest pension scheme deficits, it has been revealed. Recently, the Pension Protection Fund (PPF) reported that rallies in the global stock markets helped the UK's 7,400 defined benefit pension schemes cut their shortfalls markedly over the past ... read more
Politicians neglecting social care in older age, Britons believe
Thursday, March 11th, 2010
Politicians need to make improving social care for older Britons a priority ahead of the upcoming election, it has been claimed. Of those people polled in a study carried out by Age Concern and Help the Aged, six in ten stated that they don't feel the nation's politicians are doing ... read more
Cold weather led to £650m insurance payout
Thursday, March 11th, 2010
British households could be set to face higher premiums for household and car insurance policies following the cold winter snap.Figures from a report from the Association of British Insurers (ABI) have revealed that the coldest UK winter for more than 30 years contributed to £650 million being paid out in ... read more
MPs show support for equity release
Tuesday, March 9th, 2010
Equity release schemes can provide a key source of retirement funding for the UK's pensioners.This is the view of an all party parliamentary group, which has voiced its support for equity release as a way of providing pensioners with vital retirement funds.Such schemes can provide homeowners with a welcome financial ... read more
Annuity customers advised to shop around
Tuesday, March 9th, 2010
Annuity customers have been advised to shop around and investigate what they are eligible for in terms of annuities.The advice comes from retirement specialist MGM Advantage, which said too many people just accept the first annuity they are offered.Aston Goodey, the firm's director of sales and marketing explained: "Once you ... read more
PPF report reveals £15bn pension deficit
Tuesday, March 9th, 2010
A £15.1 billion deficit has been revealed in the UK's defined benefit pension schemes.The figures, which were published by the Pension Protection Fund (PPF), come despite a monthly improvement.PPF calculated the deficit by taking total liabilities from the total assets of 7,400 defined benefit pension schemes in the UK.Concerns about ... read more
