Thousands of pensioners worried about loosing their home

English HomesA recent poll conducted by Age UK, has revealed thousands of people in their early 50’s could be facing financial difficulties, at a time when they traditionally should be at the peak of their earnings power. Age UK has revealed that 23% of the 971 people who took part in the survey, admitted fears that they wouldn’t be able to afford their rent or mortgage repayments. As times are getting harder for many and the cost of living rises, more over 50’s ...

Annuities: Too many people still not shopping around for the best Annuity rate

New research from Age UK Enterprises, part of Age UK, has shown that the message about shopping around for the best Annuity rate is still not getting through to many people. The survey found that 31% of people who had already bought an Annuity, did not shop around for the best Annuity rate and that they were not told by their existing pension provider they might be able to get a higher income elsewhere. Falling Annuity rates make shopping around more important Over the past three years Annuity rates have fallen by around 20%, and by 7% over the past three months, making ...

Insurance: Fresh hope for older drivers

Older people might find it easier to get car and travel insurance following a recent announcement. It has long been a cause of frustration that some insurers make more elderly people pay more for their motor or travel insurance, or even refuse cover because of age on some of their products. However, an agreement which started last week, between the Association of British Insurers (ABI) and the British Insurance Brokers Association (BIBA) means that elderly consumers will be referred to BIBA’s “Find a Broker” service if an insurance company cannot provide cover due to age or product restrictions. LV (formerly Liverpool Victoria) has ...

Compulsory retirement at 65 now fully abolished

From 1st October, having been phased out since April, the default retirement age of 65 has now been fully abolished. The Employment Equality Regulations 2011 means it is no longer legal for employers to force employees to finish work at age 65. Employers can still force retirement; however it must be based on other factors, age on its own is not enough. Despite the new legislation research from law firm Norton Rose shows that one in 10 firms will still offer financial incentives or ‘golden goodbyes’ for employees who leave their position at a certain age. Paul Griffin, an employment lawyer with Norton ...