Committee of MPs ask for help for those who will lose married person’s allowance pension
The new state pension reforms have led to a committee of MPs concerned that many married women will now miss out on the £66 a week pension income. When the new single-tier pension comes into effect in 2016 any derived benefits will cease to exist, meaning that spouses can no longer be guaranteed the yearly [...]
Arrest made at pension liberation scheme operators
In a bid to tackle fraudulent so called ‘pension liberation schemes’ the police have carried out a series of arrests. Arrests have been made by the City of London Police, as well as forces in Cheshire and Scotland and a call centre was raided where computers and documents were seized. An awareness campaign was launched [...]
Four out of ten people due to retire are still financially supporting their children
According to recent research, 40% of people who are retiring in 2013 are financially supporting their children by an average of £240 each month. The study published by the insurance company, Prudential, has found that approximately 11% of this group were giving their kids over £500 every month and potentially putting their own income in [...]
Cancer patients face average costs of £570 a month
Recent research has found that the average cancer patient faces an average financial penalty of £570 a month. Transport costs to get to hospital and doctors appointments, parking fees at hospitals and increased fuel bills because they have to spend more time at home all add up to what the Macmillan Cancer Support charity calls [...]
New computer test can detect Alzheimer’s disease in minutes
A new test for Alzheimer’s disease and other types of dementia illnesses is being trialed in some NHS areas. The memory test takes just ten minutes to perform and can pick up early signs of the disease. The test can tell the different between general forgetfulness and more significant lapses in memory that could signal [...]
£4 million paid out in cold weather payments in March
Approximately £4 million has been paid out for cold weather payments to the elderly and other vulnerable people already this month as the icy winter weather continues to grip the country. In comparison, the Department for Works and Pensions (DWP) didn’t pay anything out in this benefit in March last year. People who are entitled [...]
Chancellor brings new flat rate pension and care fees cap forward to 2016
The Coalition has announced plans to introduce the new flat rate state pension earlier than previously proposed, in a move to address the issue of approximately 80,000 women who were born between April 6th and July 5th in 1953 missing out on the new £144 a week pension. The Chancellor appeared on the BBC’s Andrew [...]
Baby boomers regret not saving more towards their retirement
A recent survey has found that today’s biggest financial regret for baby boomers is not saving enough money for their retirement throughout their working lives. The pension company Standard Life’s report shows that it isn’t just the younger generations who need to be concerned about saving for retirement. 20% of people aged over 55 who [...]
New ABI Code takes effect for retirees
A code of practise has been drawn up by the Association of British Insurers (ABI) to ensure that everyone who approaches retirement age should have all of their pension options broken down and explained in detail to them by their provider. The new codes comes in effect today and means that all insurance companies [...]
Workplace pension scheme membership lowest since 1997
According to information released by the Office for National Statistics (ONS) the number of company pension schemes in operation dropped in 2012 for the 11th consecutive year. The ONS data collated just before the launch of the automatic enrolment workplace pension scheme shows that just 46% of workers in the UK now have a workplace [...]