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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
Less than 40 pension schemes have NAPF quality mark
Thursday, March 4th, 2010
Less than 40 British companies have had their pension schemes awarded a quality mark by the National Association of Pension Funds (NAPF), since it began handing out the honours six months ago.The mark is intended to provide a simple way for potential trustees to tell if the scheme they are ... read more
Retirees facing higher cost of living
Thursday, March 4th, 2010
Britons need to find an extra £1,222.66 to enjoy the same standard of living they had 12 months ago, it has been claimed.The figure comes from income specialist MGM Advantage, which also revealed the extra amount retirees need to raise.According to the study, people aged between 65 and 74-years need ... read more
“Savings sap” affecting Brits
Wednesday, March 3rd, 2010
Almost half of people in the UK have given money away to their adult children or grandchildren in the last year, new research has revealed.The study by Scottish Widows found that the recession has led to an increasing number of younger people turning to their parents for monetary support.However, this ... read more
Women ‘at risk’ post-retirement due to lack of planning
Wednesday, March 3rd, 2010
Fewer than two in five women work on their long-term financial plans, new research has revealed.The study, conducted by insurer Standard Life, found that only 38 per cent of women plan their finances compared to half of men.In addition, the poll revealed that women are far less likely to have ... read more
Low-earners ‘vulnerable’ in recession
Wednesday, March 3rd, 2010
Britons on low incomes are more likely to lose their jobs and suffer financial problems, it has been claimed.Sophia Parker, acting director at research and policy organisation the Resolution Foundation, said that difficult economic conditions are affecting low-earners more.Households earning less than the average have been spending almost all their ... read more
PwC report recommends phased state pension age increases
Tuesday, March 2nd, 2010
The state pension age should undergo a phased increase and reach 70 by 2046, a new report from PricewaterhouseCoopers (PwC) has recommended. If this is implemented, the study said, the Treasury could benefit from an additional £9 billion. This fiscal benefit would be equivalent to an almost two pence rise ... read more
Britain’s housing market outperforming Europe
Tuesday, March 2nd, 2010
People looking into equity release schemes such as lifetime mortgages could be among those to be encouraged by a new report.Recently released data from the Royal Institute of Chartered Surveyors (Rics) has suggested that the UK housing market is improving faster than most of Europe.According to the organisation's 2010 Rics ... read more
Gas bills hit ‘ten-year high’
Tuesday, March 2nd, 2010
The gap between wholesale gas prices and the cost to customers is increasing, it has been claimed.A recent report by price comparison service moneysupermarket.com has revealed that gas bills are currently at a "ten year historic high" despite wholesale prices being 60 per cent lower than their 2008 peak.As a ... read more
