- Thursday, 22 August 2013
The National Federation of Occupational Pensioners (NFOP) has welcomed the new publication of example annuity rates to help those approaching retirement decide on the best annuity rate for them.
The new publication from the Association of British Insurers (ABI) forms part of the ABI’s Retirement Choices Code launched in March this year and sets out specimen annuity rates offered by ABI members.
- Wednesday, 21 August 2013
Andrew Megson, Managing Director of Retirement, comments on the publication of example annuity rates by the Association of British Insurers:
“According to Partnership research, just 13% of consumers realised that they could get less income from their annuity if they chose to stay with their existing pension provider.
"Therefore, we welcome this move by the ABI as it clearly highlights the value of consumers taking the time to shop around and identify the best annuity for their individual circumstances.
- Friday, 16 August 2013
Age UK Enterprises reveals that those aged 65 and over are keen to pass on their top tips for a brighter financial future with over half (55%) of those in later life worrying that today’s twentysomethings will struggle financially in retirement.
The financial lessons they would like to pass on are based on first-hand experience of potential financial pitfalls.
- Thursday, 08 August 2013
With the Bank of England confirming that interest rates would remain at historic lows, pensioners and pre-retirees might need to consider increasing their exposure to higher risk investments to adequately fund their retirement, says the world’s largest independent financial advisory organisation.
The deVere Group’s comments come after Mark Carney, the new Bank of England Governor, who has unveiled a policy of ‘forward guidance’, said that interest rates would stay at 0.5 per cent until unemployment fell to below seven percent. It is his first major move at the helm of the Bank.
- Monday, 05 August 2013
Reducing inheritance tax liabilities is becoming the number one priority for a growing number of households, according to the world’s largest independent financial advisory group.
This finding from the deVere Group comes as the latest Office for National Statistics data reveals that the inheritance tax (IHT) take for the year ending April 2013 is at its highest since 2007.
It is the third consecutive year that revenue from IHT has increased.
- Wednesday, 17 July 2013
Findings of LGiU Second Independent Ageing Report
The Local Government Information Unit today launched its ‘Independent Ageing 2013’ Report which suggests that without effective support for the 57% of older people who fund all or part of their own care (‘self funders’) the entire structure of social care is at risk.
As part of this report, sponsored by Partnership Assurance, councils across the UK were surveyed to ascertain how local authorities interact with and support self-funders. Findings include:
40% of self-funders in residential care would benefit from an existing financial product to protect their assets;
- 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.
- The FCA publishes findings of review into interest-only mortgages
- Women expect to retire on £6,000 less than men
- Retirees dealt a 'crushing blow' in Budget
- Government and industry should develop and promote ‘5-a-day’ healthy saving message
- Cost of living sends funeral plan sales soaring
- Falling sterling hits pensions of millions of expats
- 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