Credit Rating | Independent Financial Advice Service, Pensions and Investment Portfolio Advisers

Final salary pensions crisis hits Aviva

Tuesday, April 27th, 2010

Aviva has become the latest large UK employer to propose an end to final salary pensions. Its own employees and those of subsidiary RAC would instead be offered defined contribution pensions moving forward. Unions say the move could cut their final pension pots by a third.

Tags: AIB Bank, Aviva, Best Maxi ISA, Credit Rating, Credit Reference File, Defined Benefit Pension Scheme, Defined Contribution Pension Scheme, Final Salary Pension Scheme, Maximum Pension Contribution, Money Purchase Pension Scheme, Occupational Pensions, Pensions, Pensions News, Spanish Investment, United Nations
Posted in Pensions News | No Comments »

Company pension schemes creaking under weight of deficits – PPF

Tuesday, February 9th, 2010

Three-quarters of final salary company pension schemes in the UK are now in deficit, potentially jeopardising the pensions provision of thousands of workers, according to the Pension Protection Fund.

Tags: AIB Bank, Co-Operative Bank, Company Pension Scheme, Credit Rating, Defined Benefit Pension Scheme, Final Salary Pension Scheme, Pension Protection Fund, Pension Schemes, ppf, Skipton Building Society, Tax, United Nations
Posted in Pensions News | No Comments »

Pensions planning shows first cracks as many feel the pinch

Monday, February 1st, 2010

The pensions ‘ice age’ has begun, with many of those approaching retirement realising that their pensions planning will not sustain the lifestyle they had hoped for. As a result, a quarter of men and 64% of women are planning to work beyond the state pension age, most of them listing financial necessity as the reason, according to the Equality and Human Rights Commission (EHRC)*.

Tags: AIB Bank, Basic State Pension, Best UK ISA Funds, Co-Operative Bank, Company Pension Scheme, Credit Rating, Defined Benefit Pension Scheme, Life Insurance Products, Loans, Maximum Pension Contribution, Pension, Pension Benefits, Pensions
Posted in Pensions News | 1 Comment »

Updating credit reference file crucial to obtaining personal loans, says ICO

Thursday, January 14th, 2010

Applicants for personal loans or credit cards must ensure that the information held on their credit reference files is up to date, or risk being refused due to incorrect data.

Consumers can request a copy of their credit reference file for £2 from credit reference agencies such as Experian or Equifax, and online applications are also possible. The file must be provided within 7 days.

Tags: Consumer Financial Planning Body, Credit Cards, Credit Rating, Credit Reference File, Equifax, Experian, Investment Advice Northern Ireland, Mortgage, Mortgage Deals, Personal Loans, Repossessed Spanish Property, Self Invested Pension Plan
Posted in Financial Planning News | 2 Comments »

Pension savers beware of pension scheme transfer incentives – Regulator

Friday, December 11th, 2009

If you are a pension saver with a defined benefit pension, you should treat with suspicion company initiatives to encourage you to transfer out of your pension scheme, in return for a lump sum.

Such lump sum offers, known as â€˜enhanced transfersâ€™, are increasingly common as companies strive to dismantle their highly expensive defined benefit pension schemes.

Tags: AIB Bank, Co-Operative Bank, Company Pension Scheme, Credit Rating, Defined Benefit Pension Scheme, Life Insurance Products, National Association of Pension Funds NAPF, Pension, Wealth Management
Posted in Pensions News | No Comments »

Vodafone hangs up on final salary pension scheme

Friday, November 27th, 2009

As Vodafone becomes the latest large employer to announce it will close its final salary pension scheme, the National Association of Pension Funds has published a new report which paints a gloomy picture for the future of the gold-plated schemes. Only 23% of final salary schemes are still open to new members, and of those, [...]

Tags: AIB Bank, Co-Operative Bank, Company Pension Scheme, Credit Rating, Credit Reference File, Defined Benefit Pension Scheme, Defined Contribution Pension Scheme, Final Salary Pension Scheme, Life Insurance Products, Maximum Pension Contribution, Occupational Pensions, Pension, Pensions, Spanish Investment, United Nations
Posted in Pensions News | No Comments »

New thinking needed in defined benefit pension schemes

Monday, November 23rd, 2009

As UK pension funds continue to announce massive shortfalls in funding for direct benefit pensions, a new report indicates that the management practices of many funds has not been revamped in the last decade to streamline decision-making and address issues of funding, strategy and risk.Â This has happened despite dramatic changes in the market, and [...]

Tags: AIB Bank, American Express, Barclays, Credit Rating, Defined Benefit Pension Scheme, Fujitsu, IBM, Maximum Pension Contribution, MetLife, Mortgage Insurance, Office of Fair Trading, Pensions, Pensions and Retirement, Personal Pensions, Pirelli, Retirement Planning, TV Advert, UK Investment Advice, UK Investments, UK Mortgage Deals, UK Pension
Posted in Pensions News | No Comments »

Pensions: ‘If it’s to be, it’s up to me’

Sunday, September 27th, 2009

Changes in the pensions market over the past year indicate that, in future,Â the individualÂ will carryÂ the majorÂ responsibility for his or her ownÂ pensions provision. In terms of securing a decent standard of living in retirement, the old business mantra holds true: ‘If it’s to be, it’s up to me.’

Tags: AIB Bank, Basic State Pension, Best UK ISA Funds, Commercial Loans, Company Pensions, Credit Rating, Credit Reference File, Defined Benefit Pension Scheme, Defined Contribution Pension Scheme, Maximum Pension Contribution, Mortgage, Mortgage Fees, Office of Fair Trading, Pensions, Personal Accounts, Personal Pension Accounts, Retirement Planning
Posted in Pensions News | No Comments »