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Public unaware of new increased savings guarantee

Posted on Tuesday, October 11th, 2011 in News, Savings

The general public are still largely unaware of the UK savings safety net, despite some £4 million being spent on a television advertisement campaign. The Chief Executive of the Financial Services Compensation Scheme (FSCS), Mark Neale, spoke with the BBC and said that the process of explaining saver protection to people needed to be rethought. [...]

This is filed under: News, Savings
Added on Oct 11, 2011 by wendy | Comments 0

Moaners are not shopping for the best pension deals

Posted on Monday, October 10th, 2011 in Retirement

Plenty of retirement savers moan about the cost of living and their pensions, but few are doing much to help improve their finances. Instead of looking at ways to maximise their pension incomes, most over 55s are blindly taking rubbish investment advice from their banks or pension providers and fail to shop around for the [...]

This is filed under: Retirement
Added on Oct 10, 2011 by admin | Comments 0

Save Our Savers group target Bank of England HQ

Posted on Thursday, October 6th, 2011 in News, Over 55s, Savings

A giant pig will be executed today outside the Bank of England headquarters to demonstrate how angry savers are at the effects that record low interest rates are having on their savings. The giant pig named ‘Bertie’ is made of paper mache and will be symbolically hammered to pieces at the same time that the [...]

This is filed under: News, Over 55s, Savings
Added on Oct 06, 2011 by wendy | Comments 0

PM urges us to pay off our credit cards

Posted on Wednesday, October 5th, 2011 in News

Prime Minister, David Cameron is urging households to pay off their credit cards and other debts to help in Britain’s financial recovery. He will ask the public as well as the banks and government to take responsibility for overcoming the recession, urging people to pay off credit and store cards and “deal with your debts”. [...]

This is filed under: News
Added on Oct 05, 2011 by wendy | Comments 0

More financial stress on the way for retirement savers

Posted on Monday, October 3rd, 2011 in Retirement

The Bank of England is set to scupper the hopes of retirement savers by cutting interest rates and printing more money to inject in to the stuttering economy. Commentators and City analysts are bracing themselves for an interest rate cut to 0.25 per cent – which would be the lowest official interest rate ever. At [...]

This is filed under: Retirement
Added on Oct 03, 2011 by admin | Comments 0

Direct contribution pensions suffer £1,300 loss

Posted on Friday, September 30th, 2011 in Retirement

The last six months have seen people who have a defined contribution scheme suffer an average loss of £1,300 from their potential annual retirement income. In the six months from the start of March 2011 to the end of August 2011, the FTSE 100 share index has fallen by 9%. It has also already fallen [...]

This is filed under: Retirement
Added on Sep 30, 2011 by admin | Comments 0

OFT receive thousands of complaints about mobility aid scams

Posted on Thursday, September 29th, 2011 in News

The Office of Fair Trading (OFT) is receiving thousands of complaints about door to door traders offering stair lifts and other mobility aids for the elderly and disabled. The watchdog has warned that traders are often charging up to 50% more for the items of equipment than they cost on the high street, with some [...]

This is filed under: News
Added on Sep 29, 2011 by wendy | Comments 0

Pension incomes down by £1,300 in last 6 months

Posted on Tuesday, September 27th, 2011 in Annuities, Annuity, News, pension annuities

Those with defined contribution pension schemes will have lost an average of £1,300 from their pension funds in the past six months.  Actuaries, Alexander Forbes, have said that the loss was due to plummeting share prices and lower annuity rates. The FTSE 100 share index had fallen by 9% since the beginning of March to [...]

This is filed under: Annuities, Annuity, News, pension annuities
Added on Sep 27, 2011 by wendy | Comments 0

Pensions and Isas hit by stock market losses

Posted on Friday, September 23rd, 2011 in Annuities, Annuity Rates, News

Stock market falls have bought about a 14% decline in pension savings since the start of the year. The financial services company Hargreaves Lansdown, have released their figures showing the effect of the recent stock market losses are having on pension incomes in the UK. At the same time ISAs have also been hit by [...]

This is filed under: Annuities, Annuity Rates, News
Added on Sep 23, 2011 by wendy | Comments 0

Savers are worried their pensions won’t pay enough

Posted on Wednesday, September 21st, 2011 in Savings

Retirement savers are not confident that their pensions will deliver, according to a survey by the National Association of Pension Funds (NAPF). The consumer champion’s annual review of Britain’s pensions reveals the country’s economic woes and recent pension reforms have left almost half of savers (48 per cent) worried that their investments will not pay [...]

This is filed under: Savings
Added on Sep 21, 2011 by admin | Comments 0

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