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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
PPF issues onerous contract guidance
Monday, March 8th, 2010
Pension trustees in the UK have been reminded of their powers to modify and disclaim onerous contracts.The Pension Protection Fund (PPF) has issued new guidance explaining the course of action that is open to trustees under section 161 and Schedule 6 of the Pensions Act 2004.In the new guide, the ... read more
E.ON price cuts are ‘too little too late’
Monday, March 8th, 2010
The timing of new deals announced by some energy suppliers has been questioned by one price comparison service.Confused.com has voiced concerns that price cuts that are planned to come into effect on March 31st are "too little too late".Gareth Kloet, head of energy at Confused.com, said: "Although it's great to ... read more
27 per cent of workers seeking pension reassurance
Monday, March 8th, 2010
A number of British workers have voiced concerns about the security of saving in a pension scheme.Figures from a new report from the National Association of Pension funds (NAPF) have revealed that 27 per cent of respondents would be more likely to save in a pension if they were sure ... read more
British Gas knocked off top spot
Friday, March 5th, 2010
British Gas has been replaced by First Utility as the UK's cheapest energy supplier, according to one price comparison service.Figures from Confused.com have revealed that First Utility's new iSave V3 tariff offers customers an average bill of £889, £10 cheaper than British Gas's best offer.Gareth Kloet, head of utilities at ... read more
UK workers fear pay freezes
Friday, March 5th, 2010
Figures from a recently-published report from consumer advice website uSwitch.com have revealed that more than 16 million people expect to experience a wage freeze this year.Of those who do feel they will see their pay increased, more than nine million believe the rise will be lower than the current rate ... read more
Over 50s taking up tax free allowance
Friday, March 5th, 2010
Almost half of people aged over 50-years in the UK have subscribed to the increased tax free ISA allowance, according to Barclays bank.New figures released by the financial firm have revealed that 48 per cent of the country's over 50s have already subscribed to the new limit.Barbara-Ann King, head of ... read more
NAPF outlines three-point plan for government
Thursday, March 4th, 2010
Government proposals to alter pension taxations for high earners could be bad news for the wider pensions market.This is the view of the National Association of Pension Funds (NAPF), which has outlined a simple three-point plan for the government to avoid such problems.The organisation is calling on the government to ... read more
