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pensions news
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3G UK as Parents Move to Live With Children
More than 80,000 UK households are now 3G families with three generations living together as financial pressures force adults with children to provide support to their elderly parents, according to new research from Prudential. | |
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Bank of England reduces bank rate by 0.25 percentage points to 5.0%
The Bank of England's Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.25 percentage points to 5.0%. | |
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The Moneyfacts.co.uk Manifesto
The recent speculation of Gordon Brown calling an election brought the political parties' manifestos to the fore. However, although Mr Brown made a U-turn after losing an 11 point lead to the Conservatives, the electorate is a starting to be a bit clearer on who stands for what. | |
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With Profits Pensions Tumble 38% in Three Years
The latest survey by Investment, Life & Pensions Moneyfacts has revealed the worrying extent to which falling with profits pension payouts are continuing to scupper many investors dreams of a comfortable retirement. The figures show that an individual with a with profits personal pension retiring today could be almost 38% worse off than someone who made the same premium contributions but reached retirement just three years ago. In July 2002 a male retiring at age 65, having contributed to a with profits personal pension for 20 years would on average have accumulated a fund worth £98,450. However, the same man retiring today, after paying identical premiums would be left with an average with profits pension value of just £61,578, a fall of almost 38% in three years | |
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Savings Accounts for Over 50s
Back in 2005 a number of banks and building societies launched savings accounts aimed specifically at people aged over 50 and above. | |
news provided by moneyfacts.co.uk on 28/08/2008