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Millions &#39losing sleep over money&#39

Nearly half the population have not saved or invested money regularly over the past six months, a Royal London survey has found.

The study of 963 people in April discovered that 44 per cent are not putting aside money regularly and 27 per cent choose to gamble their spare cash instead.

Women save £60 less than men on average each month.

The survey explored the findings of a recent Pension Policy Institute study which suggested that people will have to work until 72 to secure an adequate pension.

Fifty-four per cent of people in Royal London&#39s survey said they will be more likely to contribute to a pension or look at ways to save more money in light of this information.

Royal London says around 10.5 million people lose a night&#39s sleep every month over money worries.

But the study found there is £345m lying forgotten in sofas or drawers, plus a further £600m in piggy banks or whiskey bottles, amounting to around £40 per household.

Royal London Retail chief executive Chris Ide says: “We commissioned this report to get under the skin of people&#39s savings habits and how successfully they are making provision for the future. The results are worrying. We want to build awareness of the savings gap.”


Swedish bank may be targeting UK building society

Swedish bank Svenska Handelsbanken may be looking to expand its UK presence by targeting a building society with a takeover bid according to a story in a national newspaper.The bank, which is one of Scandinavia&#39s largest, has made recent statements saying it views the UK market as that with the most potential outside of the […]

On track online

The role of the internet has for some time provided a forum for up to date comment, opinion and speculation about technology and the mortgage market. Are we on the verge of a technical revolution or have we simply lost our way on the information super highway?Whatever the answer, a business which chooses not to […]

Directors to carry can for with-profits

Life office board directors running with-profits funds will be answerable for performance and consumers will get more information following the FSA&#39s with-profits review.The review has divided the industry over reforms which some call a disappointment while others welcome them.The role of the appointed actuary will be one of discretion only when setting bonus rates and […]

Canary spies came in from Cold War, says Treasury official

Industry speculation over the FSA&#39s attitude to polarisation reform is akin to Cold War experts&#39 attempts to interpret the mood of the Soviet leadership, says a senior Treasury official.Treasury savings and investment products team member Keith Davis damped down talk of a U-turn on CP121 and likened FSA-watchers to the Kremlinologists of the 1960s at […]

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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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