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BUDGET 2009 NEWS: Symponia criticises Budget for ignoring pensioners

Long-term care specialist Symponia has criticised Government for marginalising pensioners in today’s Budget.

Co-founder and joint managing director Janet Davies has accused the Government of “tokenism”, suggesting there is very little in the Budget for pensioners.

She says: “This is the same Government that instigated the Royal Commission and promised our elderly citizens a fairer deal. Nominal measures such as raising the savings threshold from £6,000 to £10,000 for pension credit and a small increase in state pension are pretty poor measures that do not support this promise.

“However, if I was searching hard for a ruby in the dust I would say that any measure designed to kick-start the housing market could benefit older people, many of whom rely on selling their homes in order to fund their care fees.”

Davies says the care fees specialist is “somewhat disappointed” over Government’s failure to mention the forthcoming green paper on adult social care.

She says: “By its very nature this paper can only be a further platform for a prolonged discussion on care, but it would have gone some way to demonstrating that the Government at least understands the concerns of our most elderly, poorly and vulnerable citizens.”


Convertible appeal

To state the obvious, anything with a yield these days seems to be drawing attention. There has been a raft of equity income fund launches and a stunning £3bn in net inflows into bond asset classes in the first two months of the year, high-lighting the strong appeal of yield.

FSA changes compensation scheme limits

The FSA is changing the Financial Services Compensation Scheme limits for investment and home finance advice to £50,000 and for insurance to 90 per cent of the claim, with no upper limit.


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