View more on these topics

National Pensioners Convention calls for state pension boost

The National Pensioners Convention is calling on Chancellor Alistair Darling to substantially increase the state pension as part of today’s pre-Budget report.

The basic state pension currently stands at £90.70 a week and is set to rise to £95.24 in April next year, thanks to high inflation in September.

But the NPC says the rising cost of living is pushing more and more pensioners into poverty – the number now stands at 2.5 million – and a substantial jump in the state pension is needed to prevent this number escalating.

The NPC’s proposal is part of a five-point plan to boost pensioner incomes and stimulate local economies.

It is calling for the pensioner Christmas Bonus, which has been stuck at £10 for 36 years, to be increased to £100 this winter and recommends the Winter Fuel Allowance be doubled to £500 per pensioner household. The NPC also wants free travel for pensioners UK-wide and their council tax to be frozen.

NPC general secretary Joe Harris says: “Pensioners urgently need a boost to their income to help them through the current economic crisis. These measures would not only put money into pensioners’ pockets in the short-term, but they would also ensure that local economies benefited, because pensioners would go out and spend their extra money. The Chancellor has already spoken about cutting taxes – but pensioners want to see some real money in their hands this Christmas. Mr Darling has a choice – does he want to be the pensioners’ Santa or Mr Scrooge?”


Convertibles set for revival

Once the risk-averse investment climate subsides, the convertible bond space could witness a revival, says Credit Suisse multi-manager co-head Aidan Kearney.

Back to basic

A few weeks ago, in the wake of my column on the issue of whether Skandia ought to be allowed to join Aifa, I got two emails. One was from the redoubtable Harry Katz, at Norwest Consultants, who took me to task for my negative comment and said Skandia has merely joined Aifa an “associate member”.


Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm