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Customers should not use the information to form an opinion about equity release in relation to their individual requirements.
Pension report shows ‘divide’
Thursday, October 29th, 2009
New figures on pensioner incomes have been released by the government.The 2008 Occupational Pension Schemes Survey shows that active members of final salary workplace pension schemes, which provide strong guarantees of retirement incomes, fell from 2.7 to 2.6 million of private sector workers between 2007 and 2008.Many final salary schemes ... read more
Property-based income explored by new report
Wednesday, October 28th, 2009
Elderly people who are comfortable in their current properties should consider taking out an equity release plan as an alternative to downsizing, a financial expert has said.Writing for Lovemoney.com, John Fitzsimons said that property is a "good long-term investment", particularly when it comes to providing a retirement income.Taking out an ... read more
Pension Regulator critical of workplace scheme providers
Wednesday, October 28th, 2009
Guidance from direct contribution pension providers could be improved, the Pensions Regulator has found.The organisation conducted research on how advice on retirement income options is given to members.According to the Pensions Regulator, 30 per cent of the schemes broke industry rules on communications with members who were about to retire.Meanwhile, ... read more
Charity responds to pensioner benefits boost
Wednesday, October 28th, 2009
Hundreds of thousands of pensioners will not benefit from next month's changes to Pension Credit means testing.New analysis from Age Concern and Help the Aged pointed out that the income boost, which could be worth up to £8 per week, will not be received by elderly people who fail to ... read more
OECD records rise in pension fund values
Tuesday, October 27th, 2009
Global pension funds have gained back some of their value during the first six months of 2009, an international survey has revealed.The Organisation for Economic Co-operation and Development (OECD) said that the overall value of the schemes rose by £918 billion during the period.However, the pension funds had lost around ... read more
New card data shows prioritisation of debts
Tuesday, October 27th, 2009
Customers could be using income from equity release plans to meet their debts in increasing numbers, new data from lenders suggest.The Finance and Leasing Association (FLA) said that new credit card spending among members had dropped by eight per cent year-on-year during August 2009.Other unsecured credit spending had also fallen, ... read more
Pension Credit change will benefit equity release
Tuesday, October 27th, 2009
Key Retirement Solutions has welcomed the upcoming government rule change for pensioner benefits, which will see many small savers getting an income boost.Announced in this year's Budget and effective from next month, the change will raise the "capital disregard" limit on pensioner savings from £6,000 to £10,000.Effectively, this will mean ... read more
Grandparents’ rights could be boosted by Tory government
Monday, October 26th, 2009
The legal rights of many elderly people would be increased under new proposals from the Conservative party.David Willetts, shadow secretary for Innovation, Universities and Skills, told the Daily Mail that the relationship between grandparents and grandchildren would be given greater recognition under UK law if a Tory government is elected. ... read more
Equity release plans ‘help families with care costs’
Monday, October 26th, 2009
Elderly people can take advantage of the "significant equity" in their homes to meet their care home fees, it has been suggested. Analysis from the Daily Telegraph showed that equity release represented a good option despite the "recent falls in house prices". Families also stood to benefit if the property ... read more
Wills neglected by elderly
Monday, October 26th, 2009
Many elderly Britons have yet to make a will, Unbiased.co.uk has said. According to the financial website, 41 per cent of 50 to 59-year-olds and 26 per cent of 60 to 69-year-olds have yet to plan their estates in this way. This could potentially lead to big family feuds and ... read more
