Financial face-off: men vs. women!

            A study by the worldwide research, consulting and professional development organisation, LIMRA, that compared the financial approaches of men and women, has found that there are key differences between the two sexes in both their methods of financial planning and in their decision-making processes. When it comes to sharing … Continued

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The new state pension and how it will affect you

The new single-tier state pension, also referred to as a ‘flat-rate’ pension, came into effect at the start of April this year. Whilst it makes the system simpler, as well as increasing the basic state pension from around £120 per week to a starting figure of £155 per week, the new system is not set to benefit everyone. To find out whether you’re one of the people who will be better off, one of those losing out, or someone who won’t be affected by the changes at all, read on.

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Four Things To Avoid Doing With Your Pension

There’s no doubt that we’re in a time of considerable change when it comes to pensions, with a great many people unsure of whether or not they should take advantage of the new freedoms and how they can best put the new system to work for them. As well as the positive things you can do with your pension, there are a number of things you should probably avoid doing with your retirement funds too.

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Retirement plans on hold for many over 50s

A third of people aged over 50 who are employed in the private sector are now planning to retire later than they previously hoped, Aviva’s latest Working Lives report reveals.

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Retirement ‘class of 2016’ owe less than last year’s

The amount of money owed by those planning to retire over the course of the next 12 months has fallen for the fourth year in row, according to the latest research by Prudential. This year’s retirees who still have debts owe an average of £18,800, a fall of £3,000 or 14% from last year and a drop of nearly £20,000 since 2012 when the average amount owed was £38,200.

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Elderly pensioners are Britain’s biggest savers

According to a recent article in the Daily Telegraph, drawing on data from the International Longevity Centre (ILC) and the Institute for Fiscal Studies (IFS), baby boomers are a “frugal not frivolous” generation, with the data revealing that people in their sixties and seventies are saving nearly twice as much money as thirty and forty-year olds.

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The Impact of Means Testing for the Cost of Care

The cost to you of care delivered by a local authority or trust is determined by a Care Assessment, which takes into account what your needs are and the services required and then Means Testing, which looks at how much capital and income you have that can be taken into account to offset the cost to the provider.

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Autumn Statement Preview 2015

Last year we went over and above the call of duty in our Autumn Statement Preview: we combed the Chancellor’s Twitter feed to look for clues as to what might be in his speech.

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How to approach later life care

National Insurance contributions go towards things like your State Pension but they don’t count towards the costs of social care. This type of care is managed by your local authority and generally comes at a price. That is why you have to apply directly to them if you need help with paying for long-term care. Your local authority (or Health and Social Care Trust in Northern Ireland) will first carry out a Care Needs Assessment to find out what support you need.

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