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Government rescues pension losers
Friday, January 22nd, 2010
More than 150,000 people are to share £3.5 billion in government compensation as a result of issues with the pension market.The Department of Work and Pensions has announced that many workers will have at least 90 per cent of their pensions guaranteed after their employers "went bust".Angela Eagle, minister of ... read more
DWP announce new Pension Advisory chair
Friday, January 22nd, 2010
Partha Dasgupta has been appointed chairman of the Pensions Advisory committee by secretary of state for work and pensions Yvette Cooper.Mr Dasupta said he was very pleased to accept the role and claimed last year's record public demand for an independent information service showed a "growing need" for the Pensions ... read more
Minister Accused of misleading thousands over pension compensation
Friday, January 22nd, 2010
Pensions minister Angela Eagle has been accused of misleading the public in regards to compensation for collapsed pension funds.The Department for Work and Pensions released a statement yesterday (January 21st) announcing trustees of schemes at firms which had "gone bust" would receive "at least" 90 per cent of their savings ... read more
Christmas saving for 2010 has started already
Thursday, January 21st, 2010
UK savers have already set aside £3 million for this coming Christmas, according to one financial institution.Members of the Yorkshire Building Society's Christmas Saver account have started saving in the first month of the New Year in order to spread the cost of the festive season.The society has offered customers ... read more
Warning issued to gold owners
Thursday, January 21st, 2010
People looking to cash in on the "gold rush" are having their jewels consistently undervalued by TV gold buyers, consumer guide Which? has claimed.The independent service conducted a test which found companies advertising on TV to buy gold are offering "shockingly bad value" to sellers.According to Which?, CashMyGold offered £38.57 ... read more
LITRG: Tax quirk is hitting the elderly
Thursday, January 21st, 2010
A number of elderly people are missing out on 'transferable nil rate band' inheritance tax due to a quirk in the system, according to the Low Income Tax Reform Group (LITRG).The organisation has now called on the government to correct the quirk, which affects elderly people who lost their husband ... read more
Standard Life fined for control failures
Wednesday, January 20th, 2010
Standard Life Assurance has been fined £2.45 million by the Financial Services Authority (FSA) after "serious systems and controls failings" saw many people exposed to misleading marketing material for its Pension Sterling Fund.Margaret Cole, FSA director of enforcement and financial crime, said: "The FSA takes the issue of misleading financial ... read more
Households offered power cut tips
Wednesday, January 20th, 2010
A list of tips has been published in order to help UK households stay warm during power cuts.Price comparison website uSwitch.com said the advice has been published after many people were left without power during the recent "big freeze".The firma advised those who are cut off from their energy supplier ... read more
uSwitch: Investment could see energy prices rise
Wednesday, January 20th, 2010
Proposals to invest £319 million in to the UK's growing renewable electricity generation could spell trouble for energy customers, according to one price comparison site.uSwitch.com said the proposals, recently published by energy regulator Ofgem, are part of a wider programme which could add an extra £548 a year onto household ... read more
Over 65s spending £100bn per year
Wednesday, January 20th, 2010
People aged over 65 are spending almost £100 billion per year, according to new figures.Data from the Office for National Statistics (ONS) revealed that the age group parted with £97 billion in 2008.Age concern and Help the Aged has predicted that the figure is now likely to have surpassed the ... read more
