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Half of pensioners have had to cut spending – Prudential

Half of Briton&#39s 10m pensioners have been forced to cut back on their spending over the last three months according to research from the Prudential.

More than 2m have gone back to work although the Pru concedes in some cases this could be just to combat boredom, while others could need the cash it says.

The findings from the life office&#39s quarterly Retirement Index also show that 210,000 pensioners have actually broken the law or at least considering do so in order to boost their income.

Director of marketing Roger Ramsden says: “Our research shows that the need to stay abreast of financial matters doesn&#39t stop when you leave work. The number of pensioners who feel their low household income restricts them from leading a comfortable life in retirement has consistently risen since we started the Index last year.”


Norwich Union – Monthly Fixed Income Plan

Type: Guaranteed equity bond Aim: Income linked to the FTSE 100 index Minimum-maximum investment: £3,000-no maximum, Isa £3,000-£7,000 Term: Five years Guarantee: Original capital returned in full provided the FTSE 100 does not fall by more than 30% and returns to at least its starting level Return: 0.47% income a month, Isa 5.75% income a […]

Scottish Widows – High Income Bond Assurance/Pension Fund

Type: Unit-linked fund Aim: Growth by investing in the Scottish Widows high income bond fund Minimum investment: Lump sum £5,000 via life products, lump sum £2,000, £50 a month, £600 a year via pension products Investment split: 65% high-yield bonds, 35% Government bonds Charges: Annual 1.5% Commission: Subject to negotiation Tel: 0131 6556000

Single minded

The adoption of electronic new business in the life and pension market can at best be described as erratic but there are increasing signs that online submission is becoming the norm in the mortgage market. It is not difficult to identify the reason for this. On the whole, mortgages are far more time-driven than most […]

L&G&#39s High Income Trust awarded AA rating

Legal & General&#39s High Income Trust has been awarded an AA fund management rating by Standard & Poor&#39s Fund Research.The award is based on several factors, designed to identify the overall excellence of a fund. The rating means all Legal & General&#39s retail fixed interest products now have the same AA rating. The High Income […]

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(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


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