Money Saving News for March 2009
- Petplan: Animals may suffer during recession - 11th March, 2009
Petplan has urged owners of domestic animals not to cut down on the amounts they spend on veterinary pet insurance for their cats, dogs or other animals because of the recession.
The pet insurance provider claims that owners who aim to economise by cancelling their cheap pet insurance policies may end up creating greater problems for themselves and leaving their animals in pain.
Alison Andrew, marketing manager from Petplan, said recurring problems like glaucoma in dogs can cost owners around £1,000 per year in vet's bills, which many may not be able to afford without the provision offered by veterinary pet insurance... - Uses of equity 'differ in the UK' - 10th March, 2009
Key Retirement Solutions, a personal pension plan provider, has conducted research which reveals that the use of equity differs depending on a person's age and where they live in the UK.
Equity released from property investments can be used to supplement retirement pensions, but 67 per cent of those in the 55-59 age bracket - who have yet to reach retirement age - are likely to use it to pay off their outstanding debts or mortgage... - Motorists 'downsizing to get cheap car insurance' - 10th March, 2009
Saga has released research which reveals that many motorists in the UK have been taking steps to save money on their motor car insurance renewal costs.
The cheap car insurance provider claims that March is the peak month for vehicle insurance renewals.
It said that around £2.7 million UK drivers will be taking steps - including downsizing to smaller models - to make their new motor car insurance quotes cheaper.
Other steps that UK motorists may be adopting to cut the cost of their premiums include upping the voluntary excess when they search for cheap car insurance quotes... - Equity release 'may help with retirement pensions' - 10th March, 2009
Saga has published research which reveals that equity release may provide a solution to one of the perennial problems facing elderly people claiming retirement pensions.
The personal pension plan provider conducted a survey which shows that 89 per cent of over-50s believe their house is "more than just bricks and mortar" and 48 per cent say it is where they want to grow old... - Switching to cheap car insurance 'saves more than savings accounts' - 10th March, 2009
Research released recently has revealed that people are more likely to make savings by switching to cheap car insurance than they are by changing their savings account provider.
Individual savings accounts (ISAs) in the UK enable Brits to save the full tax-free amount allowable in a cash ISA this year, which is £3,600.
Gocompare.com calculates Brits would earn interest of £129.96 on this amount with the best buy ISA.
However, data from the website suggests that motorists can save an average of £207 on their annual motor car insurance renewal premium by switching to a cheap car insurance provider... - Barclays: Investment individual savings accounts in the UK becoming popular - 10th March, 2009
Investment individual savings accounts (ISAs) in the UK are gaining popularity among the country's investors according to Barclays, as many of them are reassessing their portfolios in light of the low base rate.
The bank's stockbroker division, which provides investment advice for its customers, found that 42 per cent of Investment ISA clients are currently reviewing their investment portfolios.
As a result, Barclays has recorded a 67 per cent increase in the number of new Investment ISA accounts opened this year compared to 2008... - Alliance & Leicester launches new investment products - 9th March, 2009
Alliance & Leicester, part of the Santander group which provides basic bank accounts and savings accounts in the UK, has announced the launch of two guaranteed investment products.
The first of the products, which is the 20th issue of the Guaranteed Growth Plan, offers investors a return of up to 50 per cent of the averaged increase in value of the Halifax House Price Index over a three-and-a-half-year period... - Halifax Home Insurance finds Brits not sleeping soundly - 9th March, 2009
Halifax Home Insurance has published figures which show that 64 per cent - just under two thirds - of people in the UK do not sleep soundly at night because of the fear of being burgled.
The research, which is taken from the Halifax Peace of Mind Index, also showed that 55 per cent of people are worried about ID fraud and that 45 per cent are scared their property will be vandalised or suffer malicious damage.
Despite being perceived as an easier target for burglary, the people over the age of 65 that Halifax surveyed said that their greatest worry is ID fraud... - Prudential launches new annuity - 9th March, 2009
Prudential has announced the launch of a new annuity which it claims will help customers by offering them personal pension plans with increased flexibility.
The Income Choice Annuity, as the new product is known, will be available for customers with pension pots of £10,000 after tax-free cash has been taken.
According to Prudential, which provides pensions advice alongside its personal pension plans, the majority of people in the UK have less than £20,000 with which to buy their annuity.
Karin Brown, annuities business director at Prudential, said: "People in retirement should be able to choose an income level which suits their changing needs and has the potential to grow throughout their retirement."
Retirement pensions have been big news recently after figures released by the Alliance Trust revealed that pensioners face a higher rate of inflation than the general population, as they spend a larger proportion of their income on essentials such as food and heating... - AA: Lying may not help customers get cheap car insurance - 9th March, 2009
The AA has issued a warning to customers who are trying to make their cheap car insurance premiums cheaper by being "economical with the truth".
According to the organisation's insurance division, the number of claims refused due to people giving incorrect or false details when they take out insurance has risen by nearly a third in the last six months...