Topic filter : Pension

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....The RMT union demanded the government ensure proper employment on all the contracts, noting that several of the firms had been involved in the blacklisting scandal settled last year. Aslef’s Mick Whelan called for a government pledge not to sell off HS2, after Britain’s only current high-speed track, HS1, was sold on last week by pension funds who were awarded the concession. ... [Read full article on Guardian ]
Monday 17th of July 2017 08:08:45 AM
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....All of which means that City analysts are now speculating that the company could run out of cash – with those at Liberum wondering if it might breach a banking “facility”, effectively the company’s overdraft. Carillion also has a pension deficit of £587m to deal with. ... [Read full article on Guardian ]
Thursday 13th of July 2017 06:20:18 AM
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....Stand-in boss Keith Cochrane, well-regarded former chief executive of Weir Group, is a good man to have a crisis but, as the share price plunge suggests, fixing the balance sheet may mean asking shareholders for fresh funds. Borrowings averaged £695m in the first half and Carillion is towing a deficit in its pension funds of £587m at the last count. ... [Read full article on Guardian ]
Monday 10th of July 2017 04:02:38 PM
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....“Brexit is not of the industry’s making. Banks and financial services don’t have a choice but to respond to it and they are reaching out because customers want to know ‘will you be able to finance my manufacturing plant in Germany in two years’ time?’; ‘will you be able to provide working capital?’; ‘will the pensions services be the same?’,” he said. ... [Read full article on Guardian ]
Saturday 15th of July 2017 03:00:09 PM
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.... Back in the 1930s, the great economist Lionel Robbins described his profession in a way that has stood ever since as a cardinal rule for millions of economists. The field’s basic premises came from “deduction from simple assumptions reflecting very elementary facts of general experience” and as such were “as universal as the laws of mathematics or mechanics, and as little capable of ‘suspension’”. ... [Read full article on Guardian ]
Tuesday 11th of July 2017 05:00:01 AM
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....Now the regulator has said it will hold a summit in July with consumer groups on how it could extend the pre-payment meter cap to other households. Citizens Advice has already suggested that two million extra households which receive the Warm Homes Discount should get the same protection, including some pensioners and families with young children. ... [Read full article on BBC ]
Monday 3rd of July 2017 01:04:50 PM
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....Their fears centred on the “social premium”, the money that Fairtrade provides to farmers on top of the guaranteed minimum price they get for their produce. This money, which can be worth many thousands of pounds a year to big producer groups, goes straight to the farmers who agree to spend it on social schemes such as pensions, sick pay or education which they themselves choose and control. ... [Read full article on Guardian ]
Saturday 24th of June 2017 11:02:13 PM
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.... This is slightly less than the £30m McCall earned from starting at easyJet in 2010 to the end of the airline’s financial year in September. The broadcaster is paying McCall a base salary of £900,000, £41,000 less than Crozier, and her pension allowance has been reduced to 15% of her salary compared with her predecessor’s 25%. ... [Read full article on Guardian ]
Monday 17th of July 2017 06:15:51 AM
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. Britons born between 1970 and 1978 will have to wait an extra year, until they are 68, to claim their state pension, the government has announced. ... [Read full article on Guardian ]
Wednesday 19th of July 2017 01:44:22 PM
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. Those who received financial advice between 2001 and 2007 had accumulated significantly more in financial assets and pension wealth than their unadvised equivalent peers by 2012 to 2014, according to a report by think tank the International Longevity Centre-UK (ILC-UK), supported by Royal London. ... [Read full article on Daily Express ]
Wednesday 12th of July 2017 06:44:00 PM
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....The voluntary liquidations of the companies linked to Anderson followed initial questions posed by HMRC’s fraud and investigation service last year, which asked Anderson for details about the large numbers of VAT registration applications made on behalf of its clients. The Guardian’s investigation triggered a series of parliamentary questions by Frank Field MP, the chairman of the House of Commons work and pensions select committee, who last week asked the chancellor: “What assessment has [the chancellor] made of HMRC’s ability to investigate and recover tax revenue lost to aggressive tax avoidance schemes promoted by the Anderson Group and others?”. ... [Read full article on Guardian ]
Thursday 20th of July 2017 02:17:53 PM
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....Over the next year, the TCFD would work to monitor and assist companies implementing their recommendations. Philippe Defosses, chief executive of French pension fund ERAFP and vice chair of the UK’s Institutional Investor Group on Climate Change said: “The more companies report effectively on climate related risks and opportunities, the easier it becomes for investors to allocate the substantial amounts of capital required to implement the Paris Agreement and to work on their own climate risk disclosure. ... [Read full article on Guardian ]
Thursday 29th of June 2017 06:32:45 AM
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....The Resolution Foundation said the disappointing recent performance of the economy meant that the incomes of young families – those under 35 – were no higher than they were 15 years ago. The incomes of pensioners – a group that overwhelmingly voted Conservative last month – have grown by 30% in real terms over the same period. ... [Read full article on Guardian ]
Friday 14th of July 2017 11:01:36 PM
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.... Those running companies, also members of the 1%, have remuneration packages loaded up with stock options, so they too get richer as the company share price goes up. But what of the other 99%? Where do they fit into this cosy little world? Well, the short answer is that what gains they get to the value of their pensions from rising share prices are dwarfed by the impact of weaker investment. ... [Read full article on Guardian ]
Sunday 16th of July 2017 01:11:02 PM
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.... Meanwhile, the average gas bill has gone up 73%, electricity 72%, and water 41%. These are extraordinarily large real rises, and all the grimmer for families and pensioners on very tight budgets. ... [Read full article on Guardian ]
Saturday 1st of July 2017 06:00:07 AM
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....50 an hour and can be cancelled at any moment. The allegations are detailed in the latest report by the former work and pensions committee chair, Frank Field MP, into the gig economy, where people work flexible hours on short-term or freelance contracts without the rights of permanent employees. ... [Read full article on Guardian ]
Thursday 6th of July 2017 09:00:07 PM
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....The chancellor is being asked to reassure parliament that he will recover any monies lost to aggressive tax avoidance in the recruitment sector, after a Guardian investigation exposed how millions of pounds could be lost to the exchequer. Frank Field MP, who is due to be reconfirmed as the chairman of the House of Commons work and pensions select committee on Wednesday, is also asking the Treasury if it has calculated the impact on tax revenues of the liquidation of companies linked to Anderson Group, one of the recruitment sector’s leading financial services firms that promoted a scheme where almost 2,000 mini companies are now being simultaneously wound up. ... [Read full article on Guardian ]
Tuesday 11th of July 2017 05:29:44 PM
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....Accessing savings early has become the "new norm" since reforms were introduced in 2015, an interim review of the market by the Financial Conduct Authority (FCA) found. However, more than one out of two people fully withdrawing pension pots are simply putting the cash into alternative savings products, which can often leave savers with unnecessary tax bills and poor interest rates, according to the regulator's study of retirement income. ... [Read full article on Daily Express ]
Wednesday 12th of July 2017 03:30:00 PM
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Wednesday 19th of July 2017 02:30:53 PM
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. The TUC has warned that millions of workers risk being “plunged into insecurity in old age” after an official report revealed a surge of people grabbing their pension cash early without taking advice. ... [Read full article on Guardian ]
Wednesday 12th of July 2017 12:33:01 PM
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....Grabiner, a barrister, insisted to MPs that he had been a “responsible” chairman, despite not being invited to a key board meeting that discussed the sale of BHS to a group led by Dominic Chappell, a former bankrupt, for £1. About a year later the department store group collapsed with the loss of 11,000 jobs and leaving a multimillion pound pension deficit. ... [Read full article on Guardian ]
Monday 17th of July 2017 02:40:37 PM
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....Food price inflation for licensed businesses is running at 9% according to the Association of Licensed Multiple Retailers, while drink costs are rising by up to 7%, partly as a result of the fall in the value of the pound since last year’s Brexit vote. Those price rises have combined with increased costs from the introduction last year of the “national living wage” for over-25s, as well as rising business rates and mandatory pension contributions to pile pressure on hospitality businesses. ... [Read full article on Guardian ]
Tuesday 11th of July 2017 04:52:05 PM
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....Dividends are received by owners of shares in companies. The payments by publicly listed companies are crucial to major investors such as pension funds, which need continuous streams of income, as well as rising share prices, in order to fund retirement schemes. ... [Read full article on Guardian ]
Monday 17th of July 2017 06:01:43 AM
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.... Extended periods in a sedentary position can slow down your metabolism, which is bad news for your blood pressure, blood sugar levels and cardiovascular health. A new piece of research suggests that some people at work are spending over seven hours a day sitting down, which is more than many pensioners manage. ... [Read full article on Guardian ]
Wednesday 28th of June 2017 11:06:27 AM
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. A new “EU pension” will be introduced to aid people who move around the continent under proposals from the European commission. ... [Read full article on Guardian ]
Thursday 29th of June 2017 10:59:21 AM
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....Jordan Hiscott, chief trader at trading firm Ayondo, said the bond markets have become a more sober environment since the financial crisis. Lower profit margins and clients from the pension fund industry and sovereign wealth funds focusing on costs have forced the industry’s colourful characters to tone down their antics. ... [Read full article on Guardian ]
Saturday 22nd of July 2017 07:00:32 AM
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....“If you say no, you can’t log in. I’ve been working as a minicab driver since 2009 – I’m nearly 40 and I have no pension and no savings at all,” he says. ... [Read full article on Guardian ]
Saturday 24th of June 2017 03:00:03 PM
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....The minicab app company Uber is currently appealing an employment tribunal ruling that previously self-employed drivers should be classed as workers and therefore enjoy a guaranteed minimum wage, sick pay and paid holiday. Frank Field, the former chairman of the Commons work and pensions select committee, said he wanted Taylor to demand that the burden of proof that someone is really self-employed be shifted on to companies who contract them. ... [Read full article on Guardian ]
Friday 7th of July 2017 04:58:14 PM
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. The Canadian pension funds that own Britain’s HS1 high-speed railway between London and the Channel tunnel have sold to a consortium of UK and foreign investors. ... [Read full article on Guardian ]
Friday 14th of July 2017 05:38:02 PM
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....9 years. Maybe it won’t make too much difference to their financial futures that the government said this week that it would raise the state pension age to 68 sooner than planned. ... [Read full article on Guardian ]
Saturday 22nd of July 2017 06:00:31 AM
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Latest Finance News related to Pension

Greed is no longer good – bond boom comes to an end image
Source : Guardian [Read Article] Saturday 22nd of July 2017 07:00:32 AM
....Jordan Hiscott, chief trader at trading firm Ayondo, said the bond markets have become a more sober environment since the financial crisis. Lower profit margins and clients from the pension fund industry and sovereign wealth funds focusing on costs have forced the industry’s colourful characters to tone down their antics. ...
Your state pension in Dorset: £124,000. In Glasgow? £38,000 | Patrick Collinson image
....9 years. Maybe it won’t make too much difference to their financial futures that the government said this week that it would raise the state pension age to 68 sooner than planned. ...
The government has got it wrong on pensions | Letters image
Source : Guardian [Read Article] Friday 21st of July 2017 05:14:02 PM
. The chancellor of the exchequer recently pointed out that public sector pay was superior to private sector pay because of the occupational pension accruing to long-time public sector workers (Chancellor urges restraint on public sector pay, 17 July). ...
Savers warned as pension SUPER tax stings 80% more people image
Source : Daily Express [Read Article] Friday 21st of July 2017 03:58:00 PM
....As a result, HMRC raked in an extra £20million in 2015/16 compared to the year before, according to Salisbury House WealthAnd the problem has become even worse after the threshold was chopped even lower to £1million in April 2016. It means anyone who saves more than this sum into pensions will be hit with the super tax. ...
Could you spot a fake Airbnb listing, plus what's so fishy about cans of tuna? image
....End of the ‘rip-off’: all charges for paying by card to be banned. State pension age to increase seven years earlier than planned. ...
Recruitment sector tax scheme liquidates hundreds more firms image
Source : Guardian [Read Article] Thursday 20th of July 2017 02:17:53 PM
....The voluntary liquidations of the companies linked to Anderson followed initial questions posed by HMRC’s fraud and investigation service last year, which asked Anderson for details about the large numbers of VAT registration applications made on behalf of its clients. The Guardian’s investigation triggered a series of parliamentary questions by Frank Field MP, the chairman of the House of Commons work and pensions select committee, who last week asked the chancellor: “What assessment has [the chancellor] made of HMRC’s ability to investigate and recover tax revenue lost to aggressive tax avoidance schemes promoted by the Anderson Group and others?”. ...
Jeremy Corbyn could rip away YOUR state pension: Labour set to 'means-test' key benefit image
....The cost of the popular benefit has spiralled in recent years as life expectancy in Britain has increased. This year state pensions will cost the Government £102 billion, but in just 20 years that will soar to £192bn - a staggering £70bn more than it costs to run the NHS. ...
State pension benefits rich and UNFAIR on ill or manual workers, says ex-pension minister image
. People who paid years of national insurance contributions but don't live until or long after retirement age unfairly miss out on income under the current system, blasted the pension expert. ...
Should I cash in my endowment early to pay off my mortgage? image
Source : Guardian [Read Article] Thursday 20th of July 2017 06:00:13 AM
.... So rather than just remortgaging next March, I’m thinking of cashing in the endowment early next year and topping up the £41,000 with a personal loan of £6,000 so I can pay off the entire mortgage of £47,000. I only have £2,000 in savings and that’s not likely to grow quickly as I’m focusing all I can on pension payments. ...
State pension age rises: Will changes affect you? Everything you need to know image
Source : Daily Express [Read Article] Wednesday 19th of July 2017 02:42:00 PM
....People born after 1978 were already due to wait until 68 to retire - but now around 7million more people will be pulled into this later retirement bracket. The state pension age for women is currently being pushed back in line with men to 65 by November 2018 and 66 by 2020 - reaching 67 by 2028. ...
Forced to work until you are 68! State pension age rise brought forward SEVEN years image
....The official retirement age is now due to rise to 68 by 2039, impacting around 7million people in their thirties and fourties, the new Secretary of State for Work and Pensions David Gauke revealed. The changes are to affect everyone born between 6 April 1970 and 5 April 1978, and brings forward the state pension age rise by seven years. ...
State pension age to increase seven years earlier than planned image
Source : Guardian [Read Article] Wednesday 19th of July 2017 01:44:22 PM
. Britons born between 1970 and 1978 will have to wait an extra year, until they are 68, to claim their state pension, the government has announced. ...
If home ownership continues to shrink, the retirement system is in trouble | Greg Jericho image
....Where the declining ownership chickens come home to roost however is in retirement. Australia’s pension and superannuation system is essentially based around the premise of people owning the family home. ...
The scandal of big tobacco’s behaviour in the developing world | Letters image
.... It is incoherent to give British aid for healthcare to these countries while at the same time a UK company is promoting harmful products that diminish people’s right to health. On a related subject, British MP pension fund, the Parliamentary Contributory Pension Fund (PCPF), invests in BAT and some UK local authority pensions invest large sums in the tobacco industry which many already consider unethical even before the article in the Guardian. ...
Karren Brady to chair firm that owns Philip Green's Arcadia group image
Source : Guardian [Read Article] Monday 17th of July 2017 02:40:37 PM
....Grabiner, a barrister, insisted to MPs that he had been a “responsible” chairman, despite not being invited to a key board meeting that discussed the sale of BHS to a group led by Dominic Chappell, a former bankrupt, for £1. About a year later the department store group collapsed with the loss of 11,000 jobs and leaving a multimillion pound pension deficit. ...
Pensioner left shocked after price of monthly phone contract nearly doubled image
Source : Daily Express [Read Article] Monday 17th of July 2017 11:18:00 AM
. The shock change really worried the pensioner but she was left hanging on in vain for the refund she says that she was promised by Carefree Communications. ...
HS2 contracts worth £6.6bn awarded by UK government image
Source : Guardian [Read Article] Monday 17th of July 2017 08:08:45 AM
....The RMT union demanded the government ensure proper employment on all the contracts, noting that several of the firms had been involved in the blacklisting scandal settled last year. Aslef’s Mick Whelan called for a government pledge not to sell off HS2, after Britain’s only current high-speed track, HS1, was sold on last week by pension funds who were awarded the concession. ...
Carolyn McCall to become ITV chief executive image
Source : Guardian [Read Article] Monday 17th of July 2017 06:15:51 AM
.... This is slightly less than the £30m McCall earned from starting at easyJet in 2010 to the end of the airline’s financial year in September. The broadcaster is paying McCall a base salary of £900,000, £41,000 less than Crozier, and her pension allowance has been reduced to 15% of her salary compared with her predecessor’s 25%. ...
Investors received record-breaking dividends in 2017, research shows image
Source : Guardian [Read Article] Monday 17th of July 2017 06:01:43 AM
....Dividends are received by owners of shares in companies. The payments by publicly listed companies are crucial to major investors such as pension funds, which need continuous streams of income, as well as rising share prices, in order to fund retirement schemes. ...
The man who won a landmark legal battle for same-sex pension rights image
Source : Guardian [Read Article] Monday 17th of July 2017 06:00:43 AM
....Last Wednesday, the 66-year-old former army officer strode into the Westminster courtroom to discover he had won a resounding victory – removing what may be the last discrimination in British law against same-sex couples. In a unanimous decision, five supreme court justices declared that EU equal employment rights trumped English exceptionalism, and that on Walker’s death his partner, who is now 52, will be entitled to a spouse’s pension of £45,700 a year. ...
Low-paid should receive inflation-only rises, say business leaders image
Source : Guardian [Read Article] Sunday 16th of July 2017 06:13:15 PM
.... The government’s current policy was set before the EU referendum and so does not reflect the uncertainty caused by Brexit. “Businesses are facing high costs when it comes to employing staff – including the apprenticeship levy, pensions auto-enrolment and skills charges. ...
Pension planning: Avoid these costly mistakes with your savings  image
Source : Daily Express [Read Article] Sunday 16th of July 2017 02:14:00 PM
. The reforms, introduced in April 2015, allow the over-55s to convert their pensions into cash rather than being forced to buy an annuity, an income for life. ...
Governments have to invest in the fourth industrial revolution | Larry Elliott image
.... Those running companies, also members of the 1%, have remuneration packages loaded up with stock options, so they too get richer as the company share price goes up. But what of the other 99%? Where do they fit into this cosy little world? Well, the short answer is that what gains they get to the value of their pensions from rising share prices are dwarfed by the impact of weaker investment. ...
Gig economy: Financial advice for the self-employed  image
Source : Daily Express [Read Article] Sunday 16th of July 2017 12:01:00 AM
. Almost five million now work as freelancers, entrepreneurs, contractors or in the so-called “gig economy” but they often lack basic workplace rights or risk poverty in old age by failing to save into a pension. ...
Dublin is streets ahead of EU rivals as City firms plan for Brexit relocation image
....“Brexit is not of the industry’s making. Banks and financial services don’t have a choice but to respond to it and they are reaching out because customers want to know ‘will you be able to finance my manufacturing plant in Germany in two years’ time?’; ‘will you be able to provide working capital?’; ‘will the pensions services be the same?’,” he said. ...
Top 1% of households in UK fully recovered from financial crisis image
Source : Guardian [Read Article] Friday 14th of July 2017 11:01:36 PM
....The Resolution Foundation said the disappointing recent performance of the economy meant that the incomes of young families – those under 35 – were no higher than they were 15 years ago. The incomes of pensioners – a group that overwhelmingly voted Conservative last month – have grown by 30% in real terms over the same period. ...
Channel Tunnel rail link sold on to consortium for £3bn image
Source : Guardian [Read Article] Friday 14th of July 2017 05:38:02 PM
. The Canadian pension funds that own Britain’s HS1 high-speed railway between London and the Channel tunnel have sold to a consortium of UK and foreign investors. ...
Retirement age MUST rise or young families pay the price, pension committee head warns image
....co. uk, MP Frank Field raised the possibility of select committees having greater powers, including to introduce bills, as he blasted the Government's decision to maintain the state pension triple lock. ...
Pension changes: Anger as workers hit with 'OUTRAGEOUS' tax hikes  image
Source : Daily Express [Read Article] Thursday 13th of July 2017 03:42:00 PM
....Workers could be hit with stinging tax bills after changes to saving allowances, which are to be applied from April 6 2017. Under the new rules anyone who has been drawing taxable money from their pension is to have the amount that can be saved into scheme cut by a whopping 90 per cent. ...
Cut-price school uniforms, plus do you know who owns your leasehold? image
Source : Guardian [Read Article] Thursday 13th of July 2017 02:24:48 PM
....Cash no longer king as contactless payments soar in UK stores. FCA warns it may intervene as millions take pension cash early. ...
Carillion has 'no future without rights issue of at least £500m' image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:20:18 AM
....All of which means that City analysts are now speculating that the company could run out of cash – with those at Liberum wondering if it might breach a banking “facility”, effectively the company’s overdraft. Carillion also has a pension deficit of £587m to deal with. ...
People who receive financial advice could end up around £40,000 better off image
Source : Daily Express [Read Article] Wednesday 12th of July 2017 06:44:00 PM
. Those who received financial advice between 2001 and 2007 had accumulated significantly more in financial assets and pension wealth than their unadvised equivalent peers by 2012 to 2014, according to a report by think tank the International Longevity Centre-UK (ILC-UK), supported by Royal London. ...
PENSION WARNING: Savers accessing pots early falling into ‘disastrous’ tax trap image
....Accessing savings early has become the "new norm" since reforms were introduced in 2015, an interim review of the market by the Financial Conduct Authority (FCA) found. However, more than one out of two people fully withdrawing pension pots are simply putting the cash into alternative savings products, which can often leave savers with unnecessary tax bills and poor interest rates, according to the regulator's study of retirement income. ...
Channel 4 chief David Abraham receives record pay package image
Source : Guardian [Read Article] Wednesday 12th of July 2017 01:25:12 PM
....However, flagship Channel 4 maintained its audience share in the face of a “tsunami of sport” aired by rivals including the Rio Olympics. The board awarded Abraham a bonus of £256,000, on top of his £560,000 basic salary, plus £140,000 in pension contributions. ...
FCA warns it may intervene as millions take pension cash early image
Source : Guardian [Read Article] Wednesday 12th of July 2017 12:33:01 PM
. The TUC has warned that millions of workers risk being “plunged into insecurity in old age” after an official report revealed a surge of people grabbing their pension cash early without taking advice. ...
Pearson picks up $1bn from Penguin – but no treat for investors | Nils Pratley image
.... But, if humanly possible, Cochrane should try to go faster. The deficit in the pension fund was £587m at the last count and those pensioners deserve to hear even an outline of a recovery plan as soon as possible. ...
Chancellor urged to recover money lost from recruitment sector tax avoidance image
....The chancellor is being asked to reassure parliament that he will recover any monies lost to aggressive tax avoidance in the recruitment sector, after a Guardian investigation exposed how millions of pounds could be lost to the exchequer. Frank Field MP, who is due to be reconfirmed as the chairman of the House of Commons work and pensions select committee on Wednesday, is also asking the Treasury if it has calculated the impact on tax revenues of the liquidation of companies linked to Anderson Group, one of the recruitment sector’s leading financial services firms that promoted a scheme where almost 2,000 mini companies are now being simultaneously wound up. ...
Bar and restaurant chains scale back UK expansion as costs rise image
Source : Guardian [Read Article] Tuesday 11th of July 2017 04:52:05 PM
....Food price inflation for licensed businesses is running at 9% according to the Association of Licensed Multiple Retailers, while drink costs are rising by up to 7%, partly as a result of the fall in the value of the pound since last year’s Brexit vote. Those price rises have combined with increased costs from the introduction last year of the “national living wage” for over-25s, as well as rising business rates and mandatory pension contributions to pile pressure on hospitality businesses. ...
Gig economy workers on their jobs: 'They do exercise control over us' image
Source : Guardian [Read Article] Tuesday 11th of July 2017 11:57:45 AM
.... If a client suddenly goes into hospital or dies she can lose hours or she can suddenly be called in to do extra work. She’s now looking for a different job as she’d like to progress in her career, earn more, get a pension and guaranteed hours but continue to work in caring for people. ...
Retiring abroad: How can I cut the costs of moving away in later life? image
Source : Daily Express [Read Article] Tuesday 11th of July 2017 11:18:00 AM
.... . Many retirees living abroad have their pensions paid in Sterling into a UK bank account and have to arrange to have these transferred abroad every month – a process that can be time consuming and costly if managed through a bank. ...
How economics became a religion | John Rapley image
Source : Guardian [Read Article] Tuesday 11th of July 2017 05:00:01 AM
.... Back in the 1930s, the great economist Lionel Robbins described his profession in a way that has stood ever since as a cardinal rule for millions of economists. The field’s basic premises came from “deduction from simple assumptions reflecting very elementary facts of general experience” and as such were “as universal as the laws of mathematics or mechanics, and as little capable of ‘suspension’”. ...
Casual work is still the root cause of destitution | Letters image
Source : Guardian [Read Article] Monday 10th of July 2017 05:43:31 PM
.... Pensioners have done quite well in recent years, but very much so in comparison with the rest of the population on benefits. When thinking of the next election, we should be very careful about entrenching the gap between pensioners and the poorest working-age families. ...
Carillion has paid a heavy price for too many risky contracts | Nils Pratley image
....Stand-in boss Keith Cochrane, well-regarded former chief executive of Weir Group, is a good man to have a crisis but, as the share price plunge suggests, fixing the balance sheet may mean asking shareholders for fresh funds. Borrowings averaged £695m in the first half and Carillion is towing a deficit in its pension funds of £587m at the last count. ...
Switching your current account – Five minute guide with all you need to know image
....Since its launch in September 2013, more than 3. 5 million people have taken advantage All your direct debits, standing orders and other regular payments automatically move with you, as will incoming payments such as salary and pension. ...
Gig economy: now is the time to ease the burden for workers image
Source : Guardian [Read Article] Sunday 9th of July 2017 06:00:16 AM
....When Matthew Taylor, chief executive of the Royal Society of Arts, was appointed last year by Theresa May to lead a review of modern employment practices, he said it would be “really important to get out and listen to people”, as opposed to merely crunching data and numbers. Let us hope he has listened to some of the same people as Frank Field, the former chair of the work and pensions committee. ...
Low-paid workers need better job satisfaction, No 10 review will say image
....The minicab app company Uber is currently appealing an employment tribunal ruling that previously self-employed drivers should be classed as workers and therefore enjoy a guaranteed minimum wage, sick pay and paid holiday. Frank Field, the former chairman of the Commons work and pensions select committee, said he wanted Taylor to demand that the burden of proof that someone is really self-employed be shifted on to companies who contract them. ...
UK workers earning £2.50 an hour prompts call for government action image
Source : Guardian [Read Article] Thursday 6th of July 2017 09:00:07 PM
....50 an hour and can be cancelled at any moment. The allegations are detailed in the latest report by the former work and pensions committee chair, Frank Field MP, into the gig economy, where people work flexible hours on short-term or freelance contracts without the rights of permanent employees. ...
Gig economy: there's an easy way to end abusive working conditions image
Source : Guardian [Read Article] Thursday 6th of July 2017 09:00:07 PM
.... It should persuade even die-hard enthusiasts for the gig economy that, too often, the label “self-employed” is a grand pretence. Companies free themselves of the obligation to pay employers’ national insurance, pension contributions, and holiday and sick pay. ...
Robot banker helps millennials manage money, plus students face £57,000 debt image
....Family of four needs ‘at least’ £40,800 a year, says thinktank. Minister suggests women hit by pension age change ‘take up apprenticeships’. ...
'Shame on you!' Campaigners ERUPT as minister tells women hit by pension delay to RETRAIN image
. The pension minister's comments sparked outrage during a House of Commons debate, in which Tory backbenchers joined calls for the Government to help millions of women who say they have been "robbed" of retirement income. ...
Equity release rates fall: Homeowners paying off interest-only mortgages could save image
....It means someone opting for the average fixed rate lifetime mortgage today would save a massive £40,816 in interest over a 15-year period and £73,968 over a 20-year period, compared to someone who used a similar product in 2010. Richard Eagling, head of pensions at moneyfacts. ...
Retirees lose £8,460 of pension income: Make sure YOU don't make THIS mistake image
. Around half of retirees who have used pension savings to buy an annuity since 2015 will lose out on an average £8,460, found provider Retirement Advantage. ...
State pension age to rise SOONER than expected: Minister warns ‘big decisions’ looming image
. David Gauke warned the state pension must be "sustainable" and that he would not shy away from making "big decisions". ...
New energy price cap considered image
Source : BBC [Read Article] Monday 3rd of July 2017 01:04:50 PM
....Now the regulator has said it will hold a summit in July with consumer groups on how it could extend the pre-payment meter cap to other households. Citizens Advice has already suggested that two million extra households which receive the Warm Homes Discount should get the same protection, including some pensioners and families with young children. ...
Don’t be too quick on the draw taking pension pot, says HARVEY JONES image
Source : Daily Express [Read Article] Sunday 2nd of July 2017 11:00:00 AM
.... . Drawdown has soared in popularity since April 2015, when pension freedom reforms gave the over-55s full control over their pensions, liberating them from the obligation to buy an annuity. ...
Savers warning: Pension tax relief could soon be SLASHED image
Source : Daily Express [Read Article] Saturday 1st of July 2017 02:05:00 PM
....It's feared reforms of retirement saving incentives, which have been looming for years, may be brought forward after the Conservatives formed a Government with the DUP. Chancellor Phillip Hammond could be looking for state savings on pensions, after the Conservatives eventually maintained the state pension triple lock, which guarantees income rises by at least 2. ...
Forget austerity, here’s who is to blame for your empty pockets | Patrick Collinson image
.... Meanwhile, the average gas bill has gone up 73%, electricity 72%, and water 41%. These are extraordinarily large real rises, and all the grimmer for families and pensioners on very tight budgets. ...
Financial Conduct Authority offers a plaster instead of an antidote | Gina Miller image
.... [These so-called “platforms” are companies such as Hargreaves Lansdown, where investors hold their shares and funds. ] We also welcome the decision to ignore the attempts by pension consultants to avoid a formal investigation. ...
PENSIONS WARNING: Could this tax loophole affect YOUR savings? image
Source : Daily Express [Read Article] Friday 30th of June 2017 09:50:00 PM
. Workers are potentially missing out on tax relief on their pensions contribution thanks to a tax loophole. ...
Buy-to-let sales halve, plus is your smart meter spying on you? image
Source : Guardian [Read Article] Thursday 29th of June 2017 01:57:38 PM
....UK in credit splurge as pay is squeezed, Bank of England figures show. ‘EU pension’ planned for people who move between countries. ...
'EU pension' planned for people who move between countries image
Source : Guardian [Read Article] Thursday 29th of June 2017 10:59:21 AM
. A new “EU pension” will be introduced to aid people who move around the continent under proposals from the European commission. ...
Banks should disclose lending to companies with carbon-related risks, says report image
....Over the next year, the TCFD would work to monitor and assist companies implementing their recommendations. Philippe Defosses, chief executive of French pension fund ERAFP and vice chair of the UK’s Institutional Investor Group on Climate Change said: “The more companies report effectively on climate related risks and opportunities, the easier it becomes for investors to allocate the substantial amounts of capital required to implement the Paris Agreement and to work on their own climate risk disclosure. ...
State pension triple lock survives the Tory-DUP deal image
Source : Independent [Read Article] Wednesday 28th of June 2017 01:30:00 PM
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Related to :
Co-op Bank secures £700m rescue deal from hedge funds image
Source : Guardian [Read Article] Wednesday 28th of June 2017 11:18:25 AM
....Holt defended the funds, saying they were long-term investors and insisted customers did not ask questions about the identity of the owners of the bank. The transaction has also required an agreement with the trustees of the Co-operative Group and Bank pension fund, which will now be split and with the bank putting in £100m over 10 years. ...
Is standing up the new sitting down? | Stefan Stern image
Source : Guardian [Read Article] Wednesday 28th of June 2017 11:06:27 AM
.... Extended periods in a sedentary position can slow down your metabolism, which is bad news for your blood pressure, blood sugar levels and cardiovascular health. A new piece of research suggests that some people at work are spending over seven hours a day sitting down, which is more than many pensioners manage. ...
Green's 'main purpose' in BHS sale was to avoid pension liability, says watchdog image
. Sir Philip Green was pushed to pay into BHS’s pension after the industry regulator found the “main purpose” in selling the department store was to prevent taking on liability for the scheme. ...
Extra £1bn for Northern Ireland will barely dent public finances image
Source : Guardian [Read Article] Tuesday 27th of June 2017 05:04:26 PM
....”. But the demand by the Democratic Unionist party that Theresa May rescue the triple lock on pensions and the winter fuel allowance from Philip Hammond’s chopping board gives the chancellor a bigger headache. ...
Have you factored in these costs of moving abroad? image
Source : Daily Express [Read Article] Tuesday 27th of June 2017 04:53:00 PM
. Large money matters often take precedence, leaving you focussed on buying property, securing visas and sorting out a job or pension. ...
Many Britons are hooked on costly credit. Here’s what the new minister should do | Rowena Young image
.... Guy Opperman MP is the man of the hour and has a longstanding interest in living wages, community businesses and regional banks. He also has responsibility at the DWP for pensions. ...
State pension BOMBSHELL: Payments 'to be MEANS-TESTED to stop crisis' image
Source : Daily Express [Read Article] Tuesday 27th of June 2017 11:34:00 AM
. The report by the University of Kent suggests state pension payments should be limited for pensioners paying higher-rate tax from as early as 2019, as a way of cutting the ballooning cost of pension benefits. ...
Co-op Bank abandons sale talks as it edges towards rescue deal image
Source : Guardian [Read Article] Monday 26th of June 2017 05:25:23 PM
....The group’s stake is now expected to fall further as a result of the deal being negotiated. This will also involve separating the bank’s pension scheme from the wider group scheme. ...
DUP Deal: Pension Triple lock and Winter Fuel Allowance SAVED image
Source : Daily Express [Read Article] Monday 26th of June 2017 12:23:00 PM
.... . Under the deal, plans to remove the state pension triple lock and means-test the Winter Fuel Allowance have been axed. ...
Move by UK supermarkets threatens to bring Fairtrade crashing down image
Source : Guardian [Read Article] Saturday 24th of June 2017 11:02:13 PM
....Their fears centred on the “social premium”, the money that Fairtrade provides to farmers on top of the guaranteed minimum price they get for their produce. This money, which can be worth many thousands of pounds a year to big producer groups, goes straight to the farmers who agree to spend it on social schemes such as pensions, sick pay or education which they themselves choose and control. ...
Life swap … landlords are being given the chance to live like their tenants image
....30am to start work as a carer for children with special needs. She has taken on three jobs a week, despite being close to pensionable age, to earn enough to pay the £950 rent on her two-bed flat in Chadwell Heath, a workaday suburb on the fringes of east London. ...

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