One day to go until the PPI deadline: How to make a PPI claim August 28, 2019 Consumers are rushing to make last-minute PPI claims as tomorrow’s deadline looms. Here’s how to get your claim submitted before the cut-off time of 11.59pm on 29 August. What is PPI? PPI – or Payment Protection Insurance – was intended to cover loan repayments if the person who took out the loan became unable to [...]
Three in 10 FTSE 100 companies cut executive pensions as investor pressure mounts August 28, 2019 Three in 10 FTSE 100 companies have pledged to cut their executives’ pension payments in response to pressure from shareholders, as new data reveals that investor rebellions are on the rise. Research published today by the Investment Association shows that 30 companies on the index have made significant changes to executive pensions during this year’s [...]
RBS and Santander rapped over PPI reminders August 23, 2019 Santander and the Ryal Bank of Scotland apologised to customers today as the UK’s competition watchdog scolded them for not properly reminding PPI customers they were able to cancel their plan. The Competition and Markets Authority (CMA) said it will force the two banks to appoint independent auditors to scour through their payment protection insurance [...]
Should the state pension age increase from 68 to 75 by 2035? August 22, 2019 Should the state pension age increase from 68 to 75 by 2035, as proposed by the Centre for Social Justice? Yes – Patrick Spencer is head of the work and welfare unit at the CSJ. The happy reality is that we are healthier and living longer. In 2017, the proportion of the UK population aged 65 [...]
Why we should be worried that many women are reliant on their partners’ pensions August 20, 2019 We may have come a long way since the days when women were the property of men, but we still face some huge challenges when it comes to addressing financial gender inequality. According to a new report from Fidelity, 12 per cent of married women plan to rely on their partner’s pension in retirement, while [...]
Challenger bank Monzo launches loans August 15, 2019 Challenger bank Monzo rolled out a range of new loans today, as the digital bank ramps up its efforts to compete with its larger rivals on the high street. The app-based group will charge interest rates starting at 3.7 per cent for loans higher than £7,500, climbing to a maximum of 24 per cent for [...]
Government proposals to fix the NHS pension crisis still miss the mark August 14, 2019 It has been an unfortunate theme over recent years that public services have to reach crisis point before the government is stirred to take action. And here we have the mother of all crises (that is, the NHS crisis) made worse by a desperately confusing pensions system. When a tax rule is effectively stopping doctors [...]
Pension deficits fall among FTSE 350 firms but majority remain in the red August 12, 2019 Defined benefit pension deficits among FTSE 350 companies have dropped by nearly one-third in the last year, but still more than half of firms are operating on a deficit, according to research. The collective pension scheme deficit for the top 350 listed companies in Britain fell 29 per cent to £39bn last year, from £55bn [...]
Squashed: Britvic looks to cut final salary pensions August 11, 2019 Drinks producer Britvic is planning to slash the money it pays out to 6,000 members of its final salary pension scheme. The FTSE 250 firm, which produces Robinsons soft drinks, is looking for court approval to stop measuring inflation according to the retail prices index (RPI), and instead switch to the consumer prices index (CPI). [...]
Banks, don’t forget about the human touch August 8, 2019 Technology is transforming how we all live our lives. This is true in every part of the country and in every sector, and banking is no different. But the challenge for banks is to harness the possibilities of rapidly-evolving technology for the benefit of our customers. New banking tech affects how we live our lives, [...]