PERSONAL FINANCE NEWS

BRITS TO WORK BEYOND RETIREMENT AGE
Over 4m Brits aged 50-plus expect to work beyond their state retirement age by an average of just over six years, according to the first Working Late Index, published this week by insurance, investment and retirement group LV=. A quarter believe they will work five to 10 years more, and a further one in five see themselves working well into their seventies or even eighties. Nearly twice as many women expect to retire past their state retirement age as men.

ETORO BACKS RESPONSIBLE TRADING
Trading platform eToro has this week launched its Responsible Trading programme, which aims to provide traders with the information and knowledge they need. It safeguards new traders by setting a low risk level as the default and requires new traders to review educational information before being able to change the leverage setting manually. Further features are scheduled to be added to the platform next year.

MORGAN STANLEY’S FTSE GROWTH PLAN
Morgan Stanley announced this week the launch of its FTSE Gilt-Backed Growth Plan 6. This six-year product offers investors 7.25 per cent per annum, which will be paid on the first anniversary that the FTSE records flat or positive performance. Should this occur, investors may exit the plan at this point and receive their initial investment back in full plus the fixed return. The minimum investment is £3,000 and it is available until 24 December with an early investment discount equivalent to 0.5 per cent per annum.

LEEDS BS RELAUNCHES FIXED RATE BOND
Leeds Building Society has relaunched its short term Fixed Rate Postal Bond, which pays a guaranteed return of 2.50 per cent gross per annum. Investors have unlimited access to all of the funds in the bond at any time without any notice or penalty. The minimum investment is £1,000 and the maximum is £1m (£2m for joint accounts). The interest is paid on maturity on 31 March 2011.

M&S MONEY WARNS AGAINST BURST PIPES
M&S Money is warning Britons to take steps to prevent burst water pipes this winter after a surge in related claims last January. Claims concerning burst pipes made to M&S Home Insurance jumped 220 per cent in January 2010 on the previous year as a result of the freezing temperatures. There was also an increase in the number of claims of more than £100,000. Andrew Ferguson, M&S Head of General Insurance, said: “Escape of water can cause thousands of pounds worth of damage by destroying ceilings, furniture and personal belongings.”