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Pension deficit still above £90bn
Friday, February 5th, 2010
The total accumulated deficit of pension schemes in the UK is still above £90 billion despite recent decreases, according to the Pension Protection Fund (PPF).Figures from the organisation's latest monthly bulletin have revelled that despite a fall of £42.2 billion between November and December 2009, the deficit still stood at ... read more
Pension bail-out denied for Reader’s Digest
Friday, February 5th, 2010
UK staff at popular publication Readers Digest have had their futures thrown in to doubt after a plan to plug a hole in the company's pension scheme was thrown out.Around 135 employees are set to be affected by the decision after the magazine offered a solution, which involved a £10.9 ... read more
Value of property continues to rise
Friday, February 5th, 2010
Property prices in the UK continued to rise last month, according to a new report.Figures from the latest House Price Index from banking firm the Halifax, have revealed that house prices increased by 0.6 per cent last month.The figure represents an annual growth of 3.6 per cent and sees the ... read more
BoE maintains quantitative easing programme
Thursday, February 4th, 2010
An announcement from the Bank of England's Monetary Policy Committee (MPC) has revealed that the bank is to maintain is current historically low interest rate of 0.5 per cent.The MPC also said that the Bank's £200 billion quantitative easing (QE) programme will also be maintained.Joanne Segars, chief executive of the ... read more
Blunkett praises equity release market
Thursday, February 4th, 2010
Equity release schemes have a future in helping the UK to combat the challenges surrounding its pension and longevity issues.This is the view of former home secretary David Blunkett, who said providers of equity release could play an important role in helping the UK's property owners to realise the potential ... read more
Defaqto: BoE decision is ‘bad news for savers’
Thursday, February 4th, 2010
The decision to maintain interest rates at 0.5 per cent, announced earlier today (February 4th) by the Bank of England's Monetary Policy Committee, is "bad news for Britain's hard pressed savers".This is the view of financial information provider Defaqto, which said the move will be a "severe blow" to the ... read more
Regulator to hold governance events
Wednesday, February 3rd, 2010
The Pensions Regulator has announced details of three special events intended to provide scheme organisers with advice on how best to govern their products.Workshops will be held in London, Manchester and Nottingham to "emphasise the importance of securing good governance through having the right people and processes".The poor handling of ... read more
uSwitch: Ofgem report underestimates price rises
Wednesday, February 3rd, 2010
Price comparison website uSwitch.com has warned that annual energy bills could cost almost £5,000 per year by the end of the decade.The organisation has warned that current price trends and an increased amount to investment in renewable energy will see prices rocket over the next ten years.This warning follows the ... read more
AA staff could strike over pension changes
Wednesday, February 3rd, 2010
Staff at motor recovery company AA could walk out in protest over proposals to amend the firm's pension scheme.Thousands of workers are being balloted to decide if they should stage the first strike in the company's 105-year history.Paul Maloney, national officer of GMB, the union handling the ballot, said: "The ... read more
UK debt increases to almost £1,500 billion
Tuesday, February 2nd, 2010
The average UK household is £9,000 in debt, according to independent charity Credit Action.A new report from the organisation has revealed that the average household debt, not including mortgages, now stands at £9,000, a figure which increases to almost £19,000 when unsecured loans are taken into account.The report also revealed ... read more
