- Thursday, 13 June 2013
For the first time, LifeHolder brings together in one publication all of the important legal, financial and personal issues which demand attention by those in middle or old age, and/or by those who may have elderly relatives.
This comprehensive book by Tim Cornish has been written for the lay person, aiming to arm them with a general understanding of the main issues and their solutions, so they can take the actions they deem appropriate.
It also includes details of expert individuals and organisations who are available to provide specialist help and assistance.
- Monday, 10 June 2013
The development of a whole new financial savings product called Personal Care Savings Bonds (PCSBs) could help ease the social care funding crisis facing the UK.
Similar to the Premium Bond, PCSBs could be bought by any adult at a nominal value of £1. Unlike premiums bonds they would accumulate interest as well as pay monthly prizes. However, PCSBs could only be cashable when the owner passes a social care assessment or upon death.
- Friday, 03 May 2013
"Today's findings from the FCA shed a fascinating new light on the financial situation of interest-only mortgage customers. On the one-hand, the results are encouraging - it's great to hear so many people have a 'strategy' to repay their mortgage when it is due. But on the flip-side I'm concerned that many borrowers are still likely to have a 'shortfall', and urge them to take control of their mortgage repayment planning quickly.
- Thursday, 02 May 2013
The FCA publishes findings of review into interest-only mortgages and reaches agreement with lenders to contact interest-only borrowers
The Financial Conduct Authority (FCA) has published its research into consumers’ ability to repay their interest-only mortgages when they mature. The findings show that many people should be in a good position to repay their mortgage when it is due for repayment.
However many borrowers, particularly those whose mortgage is due to be repaid before 2020, will need to take control of their mortgage repayment planning now. To that end the FCA, the Council of Mortgage Lenders (CML) and the Building Societies Association (BSA) are working together to ensure lenders contact their borrowers in order to prompt them into checking their plan for repayment is on track and considering the options available to them.
- Wednesday, 27 March 2013
Women retiring this year expect their annual retirement incomes to be more than a third (36 per cent) lower than men's, adding up to a Pension Gender Gap of £6,500, according to new research from Prudential.
The insurer's Class of 2013 research, the latest of the annual studies conducted by Prudential since 2008, tracks the plans and expectations of people entering retirement this year. The report found that women retiring in 2013 expect average incomes of £11,750 per year, compared with £18,250 for men.
- Wednesday, 20 March 2013
Those on the cusp of retirement were dealt a “crushing blow” today, according to the boss of the world’s largest independent financial advisory firm, as George Osborne announced in his 2013 budget that the Bank of England’s controversial quantitative easing programme would remain in place.
Nigel Green of the deVere Group comments: “The Bank of England has been given license to print more money with the Asset Purchase Programme, after growth forecasts were once again cut by the Chancellor.
- Wednesday, 27 February 2013
Responding to Aviva’s second Working Lives report, David Sinclair, Assistant Director of Policy and Communications at ILC-UK said:
“‘Putting off’ retirement planning places young people at risk of living in poverty later in life. We must better plan for tomorrow, today.
Whilst many younger people are struggling to save, it is positive news that large numbers do not plan to opt out of automatic enrolment for pensions. Auto enrolment will result in millions more people saving for later life.
- Tuesday, 26 February 2013
More than £374 million invested in pre-paid plans in 2012
Customers protected from funeral inflation as average cost hits £3,300
Rising funeral inflation is helping drive sales of pre-paid funeral plans which hit record levels last year as total sales climbed seven per cent, analysis from the Funeral Planning Authority and independent funeral plan company Golden Charter shows.
- Monday, 25 February 2013
Recent falls in sterling have meant that British expat pensioners in Europe have seen their monthly retirement slashed by an average of 8 per cent since the beginning of the year, says the world’s largest independent financial advisory firm.
The figures, calculated by the deVere Group, are based on the UK state pension that on 1st January 2013 was worth €577.37 per month for the average pensioner and today is worth €530.81. In November 2008, when the pound hit a high against the euro, it was worth €597.41.
- 12 year shortfall in retirement savings in Britain
- Managing your money – don’t end up like Emmerdale’s Edna Birch
- Removal of NEST restrictions welcomed by pensioner group
- How to cut your inheritance tax liabilities - despite government U-turn
- Help is on hand with the cost of funerals
- Average owed by people retiring with debts in 2013 has fallen
- Most will stay in a pension scheme under auto-enrolment
- Greater industry transparency could help retirees get a higher income in retirement, argues ILC-UK
- Fixed term annuity market to grow by 26% in two years