Articles - September 2010
Thousands celebrate UK Older People’s Day
Department for Work and Pensions - 30th September 2010
More than 2,500 events will take place around the country on Friday [1st October] to mark UK Older People’s Day.The celebrations are being held to recognise the important contribution that older people make to society and will coincide with the UN International Day of Older Persons.
16.5 per cent of the UK’s population is currently aged over 65 and the figure is set to rise to 22 per cent within 20 years, that’s almost one in four people.
Give your pension a £24,000 boost!
Lovemoney - 29th September 2010
How can you stretch your pension income far enough in retirement and beat inflation?Inflation is bad news for everyone. But it’s particularly unwelcome if you’re on a fixed income, such as a pension.
This is because fixed-income pensioners will...
Why you can't retire at 65
Lovemoney - 29th September 2010
If you were hoping to escape rising retirement age, here’s why you may need to think again.But with so many of us distrusting pensions and relying on property instead, it's not wholly surprisingly the shortfall is significant. What's shocking is that according to the report, on average, we need an...
Pension reform predictions: Will the Coalition opt for ‘auto-enrolment lite’?
ifaonline - 28th September 2010
With the government’s review of workplace pension reform, including auto-enrolment and NEST, due to report back within weeks, speculation is rife on what shape the Coalition’s solution to the UK's retirement savings gap will take.
10 ways to boost your chances of a decent pension
Telegraph - 28th September 2010
From using tax breaks to choosing the right annuity, there is plenty you can do to get a better pension. If your employer contributes to a staff pension scheme, join it. Opting out is equivalent to asking for a pay cut.
Mind the savings gap: time to rethink your pension plans
Telegraph - 28th September 2010
It sometimes seems that the news is all bad when it comes to pensions, but there are steps you can take to maximise your payout without living in poverty – before or after retirement. The holiday of a lifetime is looking like being anything but for millions of workers, thanks to the decline of...
Public sector workers 'must increase pension payments'
Telegraph - 27th September 2010
Lord Hutton may have no choice but to recommend to the Treasury that public sector workers increase pension payments, according to pension industry evidence given to the Government's inquiry into the sector. Ahead of his interim report on pensions reform, commissioned by...
Boomers ignore the next generation as they gild their retirement with private pensions
Guardian - 26th September 2010
Instead of pouring money into stock brokers' pockets, the over-50s should contribute some of their pension savings towards the upkeep of the country. Baby-boomer bashing is all the rage. If the Monty Python team in their 1970s pomp were around today they might be asking: what have the over-50s ever done for us?
Boost your Pension by 25%!
Lovemoney - 25th September 2010
Find out the easy way to cut the cost of your Pension and give the value a massive uplift. Pensions have a poor reputation for many reasons - the mis-selling of personal Pensions, the tax raids by the government, not to mention the many scandals and long-term underperformance of many Pension funds themselves.
Lib Dem minister proposes higher state Pension to boost saving
Citywire - 21st September 2010
Pensions minister Steve Webb has said the basic state Pension needs to be increased from £97 to £135 a week as part of measures to encourage saving.Webb told the Liberal Democrat conference in Liverpool that the government needed to change the state Pension in order to make saving more attractive.
Top five mobile phones for silver surfers
Daily Express - 20th September 2010
iPHONES, blackberrys and Androids - remember the days when a phone was just that? Gone are the days when mobiles were just used to make phone calls. Now it's all iPhone apps, Blackberry messaging and browsing the internet on your Android.
Do children need Pensions?
Telegraph - 20th September 2010
A growing body of concerned parents and grandparents are setting up Pensions for their children to combat fears they could end up in poverty in old age. Figures out last week emphasise just how far Pensions have slipped down the list of young people's financial priorities. A third of all 33 to 44-year-olds and...
New computer scam that preys on your fears
Lovemoney - 19th September 2010
The over 50s are being targeted with a new computer virus scam to swindle you out of your hard-earned cash....Last month, we wrote about a scary new banking scam that was causing thousands of computers across the UK to become infected with a special virus...
Forget university, job, house, retirement
Citywire - 17th September 2010
School, university, get a job, buy a house, have a family, retire. Simplified a description it may be, but this basic schema for life has held true for millions of Brits, particularly the middle classes, in recent decades. Much of it has been taken for granted.
Steve Webb: Conservatives make me question my kneejerk reactions
Guardian - 17th September 2010
The Liberal Democrat Pensions minister discusses his views on the coalition, as well as welfare reform and party politics.You don't often hear a politician admit he's changed his mind. And, to be fair to Steve Webb, the Lib Dem Pensions minister, he did not renounce any of his party's policies or...
Britons raid retirement pots to spend today
This Is Money - 14th September 2010
Hard-pressed Britons are dipping into their long-term savings pots to continue 'living outside their means', experts are warning.With the cost of living soaring and the UK economy on the brink of a double-dip recession...
Will employer be able to 'retire' me at 65?
This Is Money - 13th September 2010
I am expecting to be obliged to retire in September 2011, when I reach my employer's usual retirement age of 65.I have heard that the new Government is scrapping compulsory retirement at 65. Is this true and if so how will it affect me?
Find out why you could be making a huge error with your most important financial asset - and how to make sure you stop
Lovemoney - 13th September 2010
According to new research by Baring Asset Management, almost 17 million working people in Britain (48%) have never ever reviewed their Pension plans. So, for example, these people set up a Pension in their twenties, faithfully contributed every month but ignored what was happening to their...
Half of women have no Pension
This Is Money - 13th September 2010
Almost half of all non-retired women do not have a Pension beyond their state entitlement, new estimates suggest.A 'staggering' 47% of adult British women have no Pension plan in place, workplace or other, according to research by Barings.
Annuities: you only have one chance, so get it right
Citywire - 12th September 2010
People spend a considerable amount of time shopping around for the best rate for their savings, totally ignoring the fact that they could gain far more by just shopping around once when they reach retirement and need to purchase an annuity or income for life.
How to double your Pension
Lovemoney - 11th September 2010
Delaying your Pension saving can have a devastating effect on your income in retirement.As the saying goes 'the early bird catches the worm'. I think that sums up Pensions rather well. Those who save the hardest for the longest should reap the benefits when they retire.
UK’s first cochlear implant operation to give sound in both ears with one implant
SOECIC - 10th September 2010
The UK’s first operation to fit a single cochlear implant capable of giving sound in both ears took place on Friday , 27 August 2010 at Southampton General Hospital. Mike Pringle, our Consultant Otolaryngologist implanted a 44-year old woman from the Isle of Wight with a Neurelec device. She has been deaf all her life and has used hearing aids until now.
Vitamin B halts memory loss in breakthrough British trial
BBC - 9th September 2010
A simple vitamin pill could prevent millions from suffering the agony of Alzheimer's.The tablet, costing as little as 10p a day and made up of three vitamin B supplements, cut brain shrinkage linked to memory loss by up to 500 per cent.
Statins may cut arthritis risk, study suggests
BBC - 8th September 2010
Taking statins may reduce the risk of rheumatoid arthritis, a study suggests.Israeli researchers looked at 1.8m patients and found fewer incidents of the joint condition among those who took the cholesterol-busting drugs.
ICAEW: Double new Pensions annual allowance in 2011
Citywire - 8th September 2010
The Treasury should double the proposed new annual allowance for Pension contributions in its first year, according to the Institute of Chartered Accountants in England and Wales (ICAEW).In its response to the government consultation on lowering the annual and lifetime allowance for Pension...
Mayo Clinic Study Finds Mild Cognitive Impairment is More Common in Men
MAYO Clinic - 7th September 2010
A new Mayo Clinic study found that the prevalence of mild cognitive impairment was 1.5 times higher in men than in women. The research, part of the Mayo Clinic Study of Aging, also showed a prevalence rate of 16 percent in the population-based study of individuals aged 70-89 without dementia who live in Olmsted County...
Response to HM Treasury Consultation on Removing the Requirement to Annuitise by age 75
SAGA - 6th September 2010
Saga welcomes the additional flexibility that the removal of this requirement provides. However, the average annuity purchase of £24,450 (ABI Statistics Q1. 2010) indicates that average Pension pots are likely to be around £30,000. If so, the purchase of an annuity is likely to remain the logical option for many to provide a secure income in retirement.
Equitable Life in final plea on compensation
Daily Mail - 5th September 2010
The board of Equitable Life today delivers a final plea to the government to honour a pledge on payouts to policyholders caught up in the scandal that brought the life insurer to the brink of bankruptcy.Directors have written to Treasury minister Mark Hoban urging him to honour a coalition pledge on compensation.
Will your Pension let you give up working by 65?
Independent - 4th September 2010
Pensions have never enjoyed so much time in the spotlight. Regulatory overhauls, demands from campaign groups and proposals from the new Coalition Government have combined to ensure that the sector has often made headlines.
Bus pass fee could cut deficit, Go-Ahead boss says
Guardian - 3rd September 2010
Chief executive of Go-Ahead Keith Ludeman says his own experience of applying for a pass has suggested one way of saving taxpayer cash.Pensioners could help address Britain's multibillion-pound deficit by paying a one-off fee when applying for a free bus pass, according...
Adult care system still baffling the public
Community Care - 3rd September 2010
Widespread public confusion remains over how the adult care system works, two years after councils in England were set personalisation targets to improve information and advice for citizens, research has found.A survey of 1,300 people by older people's charity Counsel and Care found only 5% believe the care system ...
Time to give your Pension a reality check
Telegraph - 3rd September 2010
Don't underestimate the amount you need to save for a happy retirement.Are you worried about your Pension? Three pieces of news this week suggest that most of us should be.
Moneyfacts published research revealing that plunging annuity rates will give savers half the income that they would have received 15...
Record sales of smokers' Pensions
BBC - 2nd September 2010
Smokers and people with weight problems are buying a tailored Pension income in greater numbers, according to research.Enhanced annuities provide bigger Pensions for those with serious medical conditions or lifestyle choices that might lower their life expectancy.
Raise retirement age and Pension contributions, says key fund
Telegraph - 1st September 2010
A major Pensions provider has recommended a number of “quick wins” to help slash the ballooning public sector Pensions deficit. The London Pensions Fund Authority (LPFA), one of the largest of its kind in Britain, has advocated raising employee contributions...
Alliance Boots to outsource part of its Pension plan
Telegraph - 1st September 2010
Alliance Boots, the pharmaceutical retailer and wholesaler, is to offload about £300m of retirement fund liabilities to Pension Corporation, a specialist buyout vehicle.The deal will see Pension Corporation assume the management of the old Alliance Unichem defined-benefit Pension scheme. Alliance Unichem merged with Boots to form Alliance Boots in 2006.
