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- New savings account launched - 18th December, 2008
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A new savings account has been launched by Newcastle Building Society.
In a bid to encourage savers, the new Reward Saver and Individual Savings Account (ISA) will offer an interest rate of 3.5 per cent gross with an additional bonus of one per cent for the fist 12 months of the account contract... - Falling inflation leaves elderly suffering most - 17th December, 2008
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The falling rate of inflation has benefitted senior citizens the least, according to research released today.
Yesterday, the Office of National Statistics revealed that inflation had fallen from 4.5 per cent to 4.1 per cent but calculations by Alliance Trust show that the rate of inflation for over-75s still sits at 6.7 per cent... - State pensions set to rise - 15th December, 2008
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State pensions will rise from April next year according to the government, which announced the move as part of a series of measures aimed at easing the financial burden borne by retirees.
The rise of five per cent in the state pension will see pensioners' weekly income rise from £90.70 to £95.25 if they claim full retirement benefits... - Brits still saving, but saving less, says survey - 12th December, 2008
Brits have managed to keep themselves in the habit of saving regularly despite the banking crisis, a new survey has revealed....
- Brits are paying off their debts, says new study - 4th December, 2008
A new survey released today reveals that Brits as a whole are using savings to pay off their debts as the realities of the credit crunch hit home.
... - Property slump 'leaves pensioners feeling the pinch' - 1st December, 2008
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A study released today suggests that many pensioners could see the value of their retirement funds reduced because of the recent falls in property prices.
The research, conducted by uSwitch.com, reveals that 1.7 million people approaching pension age are relying on property to fund their retirement, but recent house price falls could leave them seriously out of pocket.
Average house prices have dropped by over 14 per cent in the past year according to uSwitch.com, a slump which has taken almost £30,000 off the value of the average house.
Ann Robinson, director of consumer policy at uSwitch.com, said: "The economic slump has certainly scuppered the best laid plans of people nearing retirement.
"Consumers are faced with falling house prices coupled with a stock market crash and low savings rates."
Last week pensions expert Dr Ros Altmann said that the baby-boomer effect could put serious pressure on state-funded pensions as the proportion of the UK's population over the age of 65 rises dramatically after 2010... - 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... - 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....
- 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... - PBR pension measures welcome says LV= - 25th November, 2008
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Pensions provider LV= has welcomed the measures aimed at easing pensioner's financial burden that Alistair Darling laid out in yesterday's pre-Budget report (PBR).
The measures include a one-off £60 payment after Christmas - effectively bringing forward the increase in the basic state pension by three months - which will be a great help to older people struggling with the high costs of fuel this winter, LV= said...