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NS&I cuts rate on Direct Saver account

Posted on Thursday, January 26th, 2012 in News, Savings

The Direct Saver accounts from the Government run National Savings and Investments (NS&I), has cut its interest rates. On January 25th the annual interest rate was reduced from 1.75% to 1.5%   The NS&I admitted that the decision had been taken to make the popular savings account less desirable. The Government had set a target [...]

This is filed under: News, Savings
Added on Jan 26, 2012 by wendy | Comments 0

Over 55s set to retire while owing £38,000 in debts

Posted on Wednesday, January 25th, 2012 in Over 55s

Around one in five over 55s retiring this year will owe an average £38,200 in debts, according to financial firm Prudential. This year’s retirees face increasing debt problems as the figures are 15% up on the average debts of £33,100 for their counterparts 12 months ago. Mortgages and credit card bills make up most of [...]

This is filed under: Over 55s
Added on Jan 25, 2012 by admin | Comments 0

Number of pensioners facing fuel poverty grows

Posted on Tuesday, January 24th, 2012 in News, Over 55s

A study conducted by Age UK has revealed that half of the pensioners it surveyed turn their heating down even when they were cold to save money on their fuel bills. In a report published today, the charity found that approximately 2 million pensioners were so concerned about their rising energy bills they were going [...]

This is filed under: News, Over 55s
Added on Jan 24, 2012 by wendy | Comments 0

Paying for long term care comes back to the same old story

Posted on Monday, January 23rd, 2012 in Long Term Care

The cost of care comes back to the age-old story of who pays for the elderly when they can no longer look after themselves. As people live longer due to a better diet and improved healthcare, the basic misconception that underlies retirement is long term care is not free at the point of delivery like [...]

This is filed under: Long Term Care
Added on Jan 23, 2012 by admin | Comments 0

Doctors threaten industrial action over pension reforms

Posted on Thursday, January 19th, 2012 in News

Doctors have threatened to go on strike for the first time in over 30 years after refusing a new pension deal. The British Medical Association (BMA) represents 130,000 doctors and medical students and says that 60% of its members would support industrial action.  If any strikes went ahead they would wreak havoc in hospitals and [...]

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Added on Jan 19, 2012 by wendy | Comments 0

Inflation falls to 4.2%

Posted on Tuesday, January 17th, 2012 in News

According to figures released today from the Office for National Statistics (ONS), inflation in the UK dropped to 4.2% in December. The consumer prices index rate fell from 4.8% in November and was contributed to the slowdown of prices for food, petrol, gas and clothing. “The largest downward pressures to the change in CPI annual [...]

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Added on Jan 17, 2012 by wendy | Comments 0

FSA haven’t used mystery shoppers since March 2010

Posted on Thursday, January 12th, 2012 in News

Using the Freedom of Information act the BBC has found that the Financial Services Authority (FSA) hasn’t been using the service of mystery shoppers for at least eighteen months.    The BBC requested the information and discovered that the last use of mystery shoppers to help protect consumers happened back in March 2010, when the [...]

This is filed under: News
Added on Jan 12, 2012 by wendy | Comments 0

EDF reduce gas prices by 5%

Posted on Wednesday, January 11th, 2012 in News

EDF has become the first of the ‘big six’ energy companies to take the decision to lower their gas prices.   Customers of the utilities firm will see their bills lowered by 5% from February 7th and will see them have a typical annual gas & electricity combined bill of £1,137, compared to £1,218 with British [...]

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Added on Jan 11, 2012 by wendy | Comments 0

Retire? Over 55s need to carry on working to pay the bills

Posted on Monday, January 9th, 2012 in Retirement

Most pensioners are going to carry on working rather than put their feet up in retirement, according to new research. Three out of four believe they will have to take a job to supplement their retirement savings – with many becoming freelancers, online traders or tradesmen. Many also feel they may have to work past [...]

This is filed under: Retirement
Added on Jan 09, 2012 by admin | Comments 0

Top pension consultant says increasing pension age will not result in any savings

Posted on Thursday, January 5th, 2012 in News

A leading pension consultant has announced that the rise in public sector pension age will not lead to any savings for the Government. Consultant John Ralfe, said: “The total cost of the more generous, but later pension, is virtually the same as the cost of the current, less generous but earlier pension,” The Government was [...]

This is filed under: News
Added on Jan 05, 2012 by wendy | Comments 0

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