Money Saving News for November 2008
- Pensioners 'need better understanding of OMO' - 28th November, 2008
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Just Retirement has welcomed the government's calls for the Open Market Option (OMO) to be promoted among pension fund contributors.
According to the pensions provider, as many as 40 per cent of people claiming an annuity could claim an enhancement if they shopped around to look for the best deals... - Survey: Average salary rises amid doom and gloom - 28th November, 2008
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Research released today has revealed that the average UK salary has risen over the past five years, despite the doom and gloom of the credit crunch.
According to the study, conducted by Halifax, the mean average salary has risen from £25,939 in 2003 to £31,500 this year, and increase of 21 per cent... - Loans 'become more expensive' - 28th November, 2008
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A price comparison website has issued a warning to potential borrowers, saying that loans have become more expensive in recent weeks.
According to research conducted by moneysupermarket.com, the average cost of interest on a personal loan has risen to almost double the base rate amount since September this year... - Pensions crisis looming, experts warn - 27th November, 2008
A pension expert has compared the government's pension reforms to "rearranging the chairs on the Titanic" and warned that a catastrophe is imminent unless "radical" policy changes are implemented....
- Mandelson 'warns credit card bosses to play fair' - 27th November, 2008
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Business secretary Peter Mandelson has issued a warning to credit card companies that are seen as behaving unfairly towards cash-strapped customers, telling them to clean up their act.
Lord Mandelson, who met with the heads of credit card companies yesterday, said that those which were seen to be acting irresponsibly could face investigations by the Office of Fair Trading (OFT)... - Credit crunch puts parents to work - 27th November, 2008
Research released today has shown that the credit crunch may be pushing as many as 4.4 million mothers into working to make ends meet....
- LV= and Standard Life announce partnership - 26th November, 2008
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LV= has announced it will team up with Standard Life, in order to offer the latter's customers a wider range of protection plans.
The partnership will enable Standard Life's clients to take advantage of LV='s income protection plan, which has won awards for excellence, as well as its 50 Plus Plan... - NI increase 'could see salaries being sacrificed for pensions' - 26th November, 2008
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Industry experts have warned that the rise in National Insurance (NI) contributions announced in yesterday's pre-Budget report could mean workers choose to sacrifice part of their salary.
Analysts from Standard Life said that people who should now be paying more in NI contributions could choose to cut their salary in exchange for payments by their employer into a pension fund, thus avoiding the extra NI payments... - Lack of insurance 'puts Brits at risk' - 26th November, 2008
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Research released today by Barclays has shown that significant numbers of people in the UK have no life insurance or critical illness cover, a situation the bank describes as "worrying".
Over half the people surveyed have no life insurance and three-quarters have no critical illness cover... - Nationwide welcomes government announcement on mortgage lending - 25th November, 2008
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Nationwide, one of the UK's leading mortgage lenders, has welcomed the government's proposals on mortgage lending, which the chancellor unveiled in yesterday's pre-Budget report (PBR).
According to the building society, the formation of the lending panel will help consumers as well as benefitting the industry, as will the government's proposed £15 million commitment to offer free debt advice to borrowers...