View more on these topics

Government to raise MIG for pensioners

The Government is raising the minimum income guarantee for pensioners by £14 a week to £92.15 from £78.45 from April 2001.

This means an extra £700 a year for some of the poorest pensioners. When the Government’s new integrated tax and benefits system comes into effect in April 2003, the minimum income guarantee will rise to £100 a week. A single pensioner is guaranteed at least a £100 per week and couples £154 a week. It has been announced that this in turn will rise in line with earnings every year after April 2003.

For pensioners with some savings a pension credit will available on top of their basic pension. Couples with incomes below £200 and single pensioners with income below £135 will receive the new credit. The credit will rise in line with earnings every year.

Recommended

First Direct adopting a twotier system in switch to IFA

First Direct, HSBC&#39s telephone and internet banking arm is ringing the changes with a two-tier entry into the IFA market.The telephone-based service is set to start up in the middle of January. Its target is to make the bank one of the biggest IFAs in the country, with the aim of filling the gap in […]

Keeping the gene genie in the bottle

Once more, the issue of gen etic testing in respect of life insurance proposals has become a major issue in the press following the ruling of the genetics and insurance committee to allow insurers to use test results for Hunt ington&#39s Disease when assessing prospective customers. The committee is also considering a number of other […]

TMO introduce speedy mortgage

THE NATIONAL mortgage network The Mortgage Operation (TMO) has launched a new mortgage package for clients whose choice is driven by speed and efficiency. The Options mortgage is funded by West Bromwich Building Society and offers a rapid five day to mortgage offer service. The package has a 3% discount for two years with an […]

Pinnacle scale heights with new bond

Pinnacle Insurance’s protected bonus bond plus is a single-premium insurance bond linked to the Nasdaq-100 index.The bond is aimed at investors who have a cautious attitude to risk, who want to invest in potentially rewarding area of the Nasdaq over a period of five years and are reassured by the capital guarantee that the bond […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment