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Postcode pension analysis could lead to income change

Monday, November 30th, 2009

The UK town with the shortest average "pension lifespan" has been identified by new analysis.Watson Wyatt, a consultancy, said that male residents of Kilbirnie in Ayrshire enjoy only 12 years of retirement, the Daily Mail reported.Bootle in Merseyside and Lochgelly in Fife came in second and third places on the ... read more

Lack of communication damaging pensions says expert

Monday, November 30th, 2009

More communication is needed to help people understand the benefits of saving for a pension at an early age, the National Association of Pension Funds (NAPF) as claimed. According to the NAPF employees often mistakenly believe they cannot afford to make pension contributions as they are unaware of the help ... read more

Consumer credit drops sharply

Monday, November 30th, 2009

Many Britons are prioritising paying back their debts, according to the Bank of England.Consumer credit borrowing fell by a net £500 million during October 2009, in a trend which could have positive knock-on effects for the equity release sector.The institution's report showed that a £134 million increase in credit card ... read more

Government bond change could boost pensions

Friday, November 27th, 2009

The government should move to protect people's pensions as the recession continues to take a toll of the retirement savings sector, a report suggested today (November 27th).According to the National Association of Pension Funds' (NAPF) Annual Survey, 83 per cent of industry representatives wish to see more long-term government bonds ... read more

Exchange rate leads UK investors to US

Friday, November 27th, 2009

Currency exchange improvements have led to more Brits investing in property in the US. That is according to Deane Roe from foreign currency exchange company Moneycorp, who has claimed there has been a 23 per cent rise in the number of Brits purchasing property in the US in the ... read more

Phone firm announces planned final salary closure

Friday, November 27th, 2009

Another final salary pension scheme is to shut down, potentially lowering the income of some UK employees.Vodafone, a British mobile phone company, said it was planning to close its plan for 4,000 current members.This follows the firm's decision to close the scheme for new customers in 2005.Final salary, or defined ... read more

Recession to continue affecting house prices

Friday, November 27th, 2009

Despite house price rises, the recession will continue to affect the market. That is according to David Amstell, founder of online property website Briffy.com, who has claimed that the rise suggested by the Land Registry is only seasonal. "October is the end of the season really, so there ... read more

Charity warns on care bill

Friday, November 27th, 2009

Age Concern and Help the Aged has called for wide-ranging reforms to the care system.The charity, formed by a merger earlier this year, said that the new Personal Care at Home Bill did not go far enough in making changes to the sector.Andy Burnham, the health secretary, introduced the £670 ... read more

Older workers face reduced pension pots

Thursday, November 26th, 2009

Retirement income worries will lead many older people to work for longer, research from the Chartered Institute for Personnel and Development (CIPD) has shown.According to the report, the number of UK over-55s planning to work beyond the state pension age stands at 71 per cent.In 2006, this proportion stood at ... read more

Older workers face reduced pension pots

Thursday, November 26th, 2009