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Concerns over Warm Front funding revealed
Monday, December 7th, 2009
Customer use of home reversion plans and equity release schemes could increase as a result of a government funding change. The BBC reported that the budget for the Warm Front scheme, which provides households with grants to pay for energy efficiency upgrades, is set to be halved from £369 million ... read more
Care home group responds to report
Friday, December 4th, 2009
Government and councils give care of older people a "relatively low priority", the Registered Nursing Home Association (RNHA) said today.A spokesman for the group said that the authorities need to "do more" to give "dignity and respect" to vulnerable people.The comments follow the release of a report from the Care ... read more
NAPF calls for bond change
Friday, December 4th, 2009
Alistair Darling should consider making changes to government bond issuance in order to benefit pension plans.This is the view of the National Association of Pension Funds (NAPF), which made its official submission to the chancellor prior to the Pre-Budget Report on December 9th.Mr Darling will deliver a range of new ... read more
Annuity rate drop hits retirement income
Friday, December 4th, 2009
Annuity rates have fallen once more, lowering the retirement incomes of some private pension savers.Investment, Life & Pensions Moneyfacts said that the average rate for a 65-year-old man hoping to convert his pension pot into a level without-guarantee annuity is 3.3 per cent lower than it was in September.This also ... read more
Post Office ‘coming into next century’ with new developments
Thursday, December 3rd, 2009
New services at the Post Office will be beneficial to retired people in rural communities. That is according to local services company The Ryedale Group, which has welcomed plans by the government for the Post Office to offer a range of finance services. Zoe Hemmingfield, spokesperson for The Ryedale Group, ... read more
Councils rapped on social care
Thursday, December 3rd, 2009
The standard of care offered to elderly people by some providers is inadequate, a new report has indicated.According to the Care Quality Commission, one in four old people's homes only offer an "adequate" or worse standard of care.The report indicated that one in three local authorities "must do more" to ... read more
Pension transfer hold-ups noted by ABI
Thursday, December 3rd, 2009
The time taken by pension plan providers to transfer funds has held steady, the Association of British Insurers (ABI) has suggested.Figures from the industry group's Options initiative suggest that transferring a pension pot between participating firms took an average of 11 days over the third quarter of 2009.This is the ... read more
Mortgage worries mounting among homeowners
Thursday, December 3rd, 2009
Concerns over mortgage payments could increase over the year to come, a lender has suggested.According to The Co-operative Bank, many are currently "struggling" to deal with their "financial commitments" in the recession.The firm has announced that it will donate £10 to shelter on every business home insurance policy it sells, ... read more
Smart meter news welcomed by consumer group
Thursday, December 3rd, 2009
Independent consumer champions Consumer Focus has welcomed the decision to increase the amount of smart meters in homes.Zoe McLeod, energy expert for Consumer Focus, suggested that the meters would lead to the end of estimated bills. "It is good news that standalone displays will be provided with smart meters," she ... read more
Records-keeping advised in Pension Credit disputes
Wednesday, December 2nd, 2009
Written records of telephone contact with HM Revenue & Customs (HMRC) relating to Pension Credits should always be kept by taxpayers, a campaigns body has said.The Low Incomes Tax Reform Group said that recent legal precedent suggests phone conversations with the authority cannot in themselves be used as evidence by ... read more
