Businesses cut employee benefits with changes to pension plans February 11, 2015 Businesses are cutting the benefits they give their employers, so that they make up a smaller proportion of their overall salaries. According to a survey of mid-sized companies by professional services firm Towers Watson, the proportion of companies spending over 20 per cent of employee salary costs on workplace benefits has dropped from [...]
George Osborne sets sights on pensioner votes with extension of 65+ bonds deadline past General Election day February 8, 2015 Chancellor George Osborne yesterday revealed that the government will now be offering £15bn worth of controversial so-called pensioner bonds, with an extended application deadline that falls on 15 May – one week after the General Election. The 65+ guaranteed growth bonds, as they are officially known, offer marketing leading rates, at 2.8 per cent interest [...]
Lanacshire County Pension Fund enters Eurostar bidding war February 8, 2015 Lanacshire County Pension Fund (LCPF) has thrown its hat into the ring in the battle to buy the government’s 40 per cent holding in Eurostar. The £5.7bn fund, which invests on behalf of thousands of Lancashire’s local authority workers, is up against various international infrastructure investors to buy the stake, which is valued at £400m. [...]
George Osborne: Pensioner bond scheme to be extended to after general election February 8, 2015 The government will continue to offer its pensioner bonds for a further three months after more than 600,000 people signed up to the scheme. George Osborne revealed that the deadline for over 65s to apply for the scheme has been extended until after the general election in May due to its popularity. [...]
Free state pension forecasts now available for over-55s February 7, 2015 Millions more people are now eligible for a free estimate of how much is in their state pension pot. Over-55's can request a personalised pension statement estimating how much they'll receive upon retirement. It's calculated based on the national insurance contributions an individual has made to-date. The move will make retirement planning easier for more [...]
Pensions shake-up could give savers £100k boost when fee cap is introduced in April February 4, 2015 Savers paying into a pension could save up to £100,000 once a new cap on fees is introduced in April. Charges for those automatically enrolled in a workplace pension will be capped at 0.75 per cent a year compared to current average annual charges of 1.5 per cent used to cover the costs associated with [...]
Why deflation could prove bad news for your pension February 3, 2015 WITH falling oil prices and a weak euro both contributing to lower prices for many goods, we saw the headline rate of inflation in the UK fall to just 0.5 per cent in December – the joint lowest on record. There is a technical but important argument going on among economists, statisticians and officials on [...]
Pensioners should opt-in to winter fuel allowance and jobseekers should get personal welfare accounts, says think tank February 3, 2015 A think-tank with close links to the Conservative Party has outlined a series of changes to welfare that would affect pensioner benefits and Job Seekers Allowance and child benefit payments. Under Policy Exchange's Welfare Manifesto pensioners would be asked to opt-in to receive the Winter Fuel Allowance. Currently, the Winter Fuel Allowance is given to [...]
LendInvest IPO: P2P mortgage firm hoping to be City’s first public crowdfunding site February 2, 2015 Peer-to-peer (P2P) mortgage firm LendInvest is hoping to be the first crowdfunding business to list on the London Stock Exchange with plans afoot for its debut in the next 12 months. The group’s chief executive Christian Faes told City PM that while the business has yet to appoint bankers to work on it, he said [...]
General Election 2015: Gordon Brown promises Scotland better pensions and benefits than rest of UK February 2, 2015 Later today, Gordon Brown will promise to give Scots a better deal on pensions and benefits if Labour is voted in at the next general election. Speaking at a press conference in Edinburgh, the former Prime Minister is expected to say Scots will be able to top-up the normal benefits available to people across the [...]
