- Monday, 09 December 2013
The Financial Services Consumer Panel today publishes the findings of its research into the consumer experience of purchasing an annuity, which shows that the market does not work well for the majority of consumers.
The Panel recommends urgent regulatory and government-led structural reform in order to prevent millions of pensioners from losing out.
The Panel’s extensive 12-month study, which included a literature review and three separate pieces of independent research, uncovered evidence of a complex market which is failing to deliver good outcomes for many consumers.
- Thursday, 05 December 2013
Nearly a third of Brits won’t be able to make November’s salary last until Christmas
Only 26 per cent have budgeted for the festive expense
The Christmas countdown is on and with three weeks to go, Britain’s number one comparison site MoneySuperMarket.com reveals nearly a third (30 per cent) of Christmas spenders won’t be able to make their November salary last to fund the festivities.
- Thursday, 05 December 2013
Research from comparison site Gocompare.com has found that rather than being paid for the service they provide, grandparents are having to spend an average of around £380 a year while looking after their grandchildren. The survey of 1,000 grandparents showed that just under a third (31%) are spending between £5 and £10 on their grandkids every day that they look after them, and nearly a fifth (18%) fork out between £10 and £15.
It’s not surprising, then, that almost one in ten (9%) grandparents feel that looking after their grandchildren costs them a small fortune.
- Wednesday, 04 December 2013
Almost two thirds (64%) of British retirees expect to leave an inheritance to their children with an average* value of £182,144, according to HSBC’s study, The Future of Retirement Life after work?
HSBC’s research, which surveyed over 16,000 people in 15 countries, found many Britons could inherit even more, with one in five (21%) legacies left to children by UK retirees expected to be over £250,000.
- Thursday, 21 November 2013
The Launch of the Age Connects Cardiff and the Vale Moneywise project was held on
The Moneywise Project is funded by The Big Lottery and part of the Age Connects long-established Welfare Rights Service. The project aims to help older people who have money worries and to deliver benefits advice and financial guidance to older people in a crisis or bereavement situation.
Newly appointed Moneywise Adviser Tony Green explains “If you are 60 or over and struggling to meet the rising costs of household bills or unsure about claiming benefits, then we are here to help”.
The Moneywise project can assist with the following:
- Monday, 18 November 2013
British grandparents are taking financial care of two generations - with more than half saying their main motivation for saving was to secure their grandchildren's future.
A study has shown that more than one in three children have received money from their grandparents with 21 per cent saying they are provided with an annual lump.
Over half (55 per cent) of the grandparents surveyed admitted that securing their grandchildren's financial well-being is a key motivation for saving money.
- Wednesday, 13 November 2013
Two fifths of UK adults will find themselves in debt to pay for Christmas gifts this year (41 per cent)
Women are smarter shoppers: almost 10 per cent less women will go into the red (38 per cent) over holiday gifts compared to almost half of men (46 per cent)
Youngest generation is savviest at saving: two thirds of 18-24 year olds put away money for Christmas presents (67 per cent) compared to 62 per cent of over 45s and over
The North West is the most generous: spending an average of £260 on gifts this year compared to East Anglians who will spend £200
- Monday, 11 November 2013
New research from over 50s specialist insurance provider RIAS reveals today that three quarters (75%) of UK grandparents now provide childcare for their grandchildren. Rather than an active choice, today’s report shows that the rising cost of living for families has forced many grandparents into the role, leading to financial difficulties for some – one quarter (26%) of grandparents reach into savings, and one in ten (11%) are forced to borrow money to cover activities and living costs.
9.8million now make up Britain’s Grandparent Army as the number of Grandparent childminders increases by over 60% since 2009.
Grandparents spend an average of 8.2 hours a week looking after their grandchildren – saving parents £1,659 on childcare fees annually.
- Wednesday, 06 November 2013
Which? launches a new campaign calling on Pensions Minister Steve Webb MP to do more to protect people’s retirement funds.
Last week the Government announced plans to reform the pensions market, proposing a cap on administration fees for auto-enrolment schemes. We are calling on the Government to lower the level of the proposed new cap, extend the proposals to more schemes and ban other unfair charges.
- Pensioners in Britain happy with their finances
- More Than Half Of Couples Risk Leaving One Partner With No Income In Retirement
- Pensions Bill: we need to create a fair system for expats
- Ofcom gives consumers right to walk away from higher bills
- More over 50-65 year olds need to supplement retirement income
- Making ends meet as a carer isn’t easy
- Inflation leaves UK households needing to find £679 a year to maintain standard of living
- New Benefits Calculator launched to help people in financial need
- Judith Donovan CBE, Chair of Keep Me Posted campaign comments on Which? 's investigation into the cost of overdraft charges