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Cap on social care costs kicked into the long grass

Reports in the media are suggesting that the Government’s pledge to introduce a cap on social care costs by 2020 has been further delayed – with the possibility that further consultations will see it abandoned entirely. The news comes just months after the Prime Minister was forced into an embarrassing U-turn on her election manifesto […]

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Millions of savers face “50/50 chance” of not receiving promised pension payouts

Threats to company pensions funds following business collapses, such as those of BHS and Monarch, and the renegotiation of steel workers’ future benefits, may not be isolated incidents, according to the Pensions and Lifetime Savings Association (PLSA). A study has concluded that some three million savers currently in defined pension schemes may have as little […]

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Older people fast becoming “generation work”

Thinking of staying in work past the official retirement age? Then join the generation steadily pushing back the age of retirement. The employment rate for those between 50 and 64 reached a record high point of 71.2pc this summer. This is only a smidge below the national employment rate across all ages of 75.3pc, itself […]

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A third of over 55s unsure if they can afford to retire on their savings

New research from pension communications company Pension Geeks shows that 83% of people in work wish they were saving more into their pension, with almost a third of over-55s uncertain if they will be able to retire on their current savings. The concerns are backed by recent savings figures: the Scottish Widows Retirement Report shows […]

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Older downsizers struggling to find suitable homes

Almost half (44%) of estate agents report seeing a rise in enquiries from older homeowners looking to downsize over the past year, according to a report from equity release provider Key Partnerships. The dilemma, however, is a shortage of suitable homes to meet demand; added to which too many those looking to move are over […]

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North and south divide on care home costs

  New research shows massive regional differences in the cost of care, with residents in Oxfordshire paying an average of £955 a week, compared to Lancashire where the average cost of care is almost half of that amount ,at £531 a week. Others in the top five chargers are Surrey, Greater London, Bristol and Wiltshire. […]

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FCA alert: “Consumers losing out through pension freedoms”

 “Consumers paying too much tax, missing out on investment growth or losing out on other benefits,” warns report The Financial Conduct Authority (FCA) has published the interim findings of the Retirement Outcomes Review – the first major comprehensive study into how the retirement income market is changing since the introduction of pension freedoms in 2015. […]

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Will your pension go to the wrong person after your death?

One of the most significant elements of many people’s estates – their pension – is at risk of going to the wrong person, according to mutual insurer Royal London. Their warning comes in the wake of figures published by the Office for National Statistics on the growing numbers of older people getting married and divorcing […]

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Older drivers losing out by up to £500 on car insurance

A new report from Which has found that older people are bearing the brunt of rocketing car insurance premiums – losing out by as much as £500 a year because they are staying loyal to their existing providers. Average premiums have leapt in the last year – 8% in the last three months alone, according […]

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