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Savings limit boost

Savings limits for people on means-tested benefits are set to rise under new Government plans.

The move comes as part of a comprehensive spending review by social security ministers and is set to treble capital limits for those on benefits also and raise the limit on the amount individuals can claim against the cost of long-term care.

Income support rules mean people can start to claim with £8,000 of savings and receive the full amount when their savings fall below £3,000.

Ministers are looking to raise the lower figure from £3,000 to £4,750 to keep in line with inflation.


Small firm stakeholder warning

Financial adviser Grant Thornton is claiming small company workers left out of the stakeholder should act now to organise their future provisions.From April 2001 the stakeholder will have to be offered by companies with five whi employees or more.About 750,000 employees will be left to sort out their own financial affairs.GT has issued advice for […]

Clerical predicts doom for the IFA &#39gloom&#39 club

Clerical Medical is predicting a massive cull in the number of IFA firms operating in the UK, believing the number will be nearly halved in three years. The company claims the current 4,500 IFA firms will be slashed to 2,500 by 2004 as firms either go out of business, consolidate or tie with providers. The […]

Julian Gibbs

Another innovative plan from NDF with assets backed by Abbey National Treasury Services – the Extra Income and Growth Plan V1 – is being launched on February 19. This plan gives a fixed income of 10.25 per cent over three years or growth of 31 per cent for Isas and Pep transfers. This is equivalent […]

Redemption penalty warning

Less than half of all borrowers are being warned about redemption fees when taking out a mortgage, according to research by on-line broker E-loan.The US mortgage broker who recently set-up a UK service, is claiming the onus is on the industry to reverse consumer ignorance on mortgages.E-Loan chief executive Andrew Armishaw says: “The answer lies […]


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