Grandparents counting cost of childcare by Finance News Bulletin
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Published: 15/02/07
Retired grandparents are receiving hit with the cost of financing childcare in spite of the fact that the pensions shortfall is affecting their throwaway incomeAccording to engage Mutual Assurance, half of grandparents in the UK have put money towards the upkeep of their grandchildren within the last six months and one in five have met the cost of childcareIn the history three months, 21 per cent of grandparents who are retired have subsidised childcare expenses which compares to ten per cent back in JulyKarl Elliott, 3GB campaign representative for engage Mutual Assurance, supposed: "With money issues becoming an increasing concern in modern Britain, this research shows the significant role families play in as long as financial security
"Despite concern that old age pensioners are unable to have enough money retirement, grandparents continue to make a valued contribution to extended family finances"Mr Elliot then affirmed that child trust funds (CTFs) were an effective method for grandparents and parents alike to put cash aside for a child's futureIf a customer sets up an connect Mutual Assurance CTF with a usual direct debit contribution they are entitled to anything up
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Claiming benefits made easy - Published:12/03/07
Pensioners are absent out on millions of pounds worth of state help Sally West, Age anxiety's policy expert, offers some help to those who want to get their hands on the cashMany older populace look forward to a comfortable retirement A lack of money can sometimes make the reality very dissimilarPensioner poverty is now at crisis levels and two million pensioners exist below the government's poverty line Many older people find it difficult to cover day-to-day livelihood costs, never mind luxuriesSince the introduction of retirement fund Credit, half of all pensioners should be entitled to a money top-upIt's just the complexity of the different reimbursement and a lack of awareness which sometimes stops the money from reaching older people's pocketsPensioners are more likely than anyone else to miss out on benefits Each year hundreds of millions of pounds in reimbursement cash lies availablePension credit has two elements: The Guarantee Credit and Savings praise The Guarantee praise can be claimed by pensioners who are 60 or over, while the Savings Credit can only be claimed by pensioners who are 65 or overThis guarantee element tops the income of single populace and couples up to a minimum of £10945 a week in 2005/2006 and couples to £16705 a week in 2005/2006The levels can be senior in some circumstances - for example for some disabled populace and carersYou do not need to have paid National Insurance (NI) aid to qualify but your income and any savings and assets over a certain level are taken into accountThe Pension praise also goes a step further and provide extra money for people aged 65 and over who have made moderate savings for retirementYou can get a claim form from your local social safety office or by calling the Pension Credit Information Line on 0800 99 12 34Age anxiety fact sheet 18 offers information about money benefits including Pension praise and fact sheet 48 has more facts and information about the Pension CreditMany older people find council tax a major drain on their profits Council Tax Benefit, which can reduce your bill, is the benefit pensioners are most probable to miss out onIt can be claimed by homeowners as well as tenants - the worth of your home is not in use into accountHousing Benefit helps with rent, certain service charges and, in Northern Ireland, with general ratesOther factors such as people in your family, whether you are disabled, and the level of your rent and committee tax may affect the amountCurrently up to 14m eligible older people fail to spot out on Council duty Benefit, resulting in up to £580m remaining available each year The average amount available is £750 a week, or £390 a yearUp to 270,000 entitled older populace are not claiming Housing Benefit, resulting in up to £400m remaining unclaimed each yearIf you apply for retirement fund Credit you should be asked if you wish to claim these benefits as well, otherwise contact your local authority Age anxiety's information sheet 17 also gives information about Housing and Council Tax advantagePeople aged 65 and over who are physically or mentally ill or disabled can get extra money to help with the additional costs of disability through Attendance AllowanceIt is for people who need help with personal mind If you receive it you choose how you spend it turnout Allowance is not connected to income or savings and is paid at two dissimilar rates: £4055 tax year 2005/2006 if you need assist in the day or night and £6060 tax year 2005/2006 if you require help during bothThere is no upper age limit but if you are under 65, you should apply for Disability Living Allowance in its place - this can provide extra money for people with care and/or mobility wantsAge Concern's fact piece 34 gives more information about Attendance Allowance and Disability Living Allowance To get a claim set ring 0800 88 22 00Department for Work and Pensions (DWP): you can go to its website observe link on right) to download claim forms for some reimbursement, obtain leaflets, publications and other information including details of your social security place of work The Pension Credit in order Line is 0800 99 12 34Age Concern: most areas have a local Age anxiety which may provide reimbursement information Alternatively you can get free fact sheets from Age Concern's in order Line on freephone 0800 00 99 66 or from its website (see link on right) Age anxiety also publishes a variety of finance-related publications including Your Rights which are available from 0870 44 22 044Citizens Advice Bureaux: these give advice and information on all kinds of subjects Find your nearest in the phone book or libraryrestricted Authority/Council: you will find the address of your local authority in the phone book under the name of your region, unitary authority, city or London borough, or ask at your local libraryThe opinions expressed are those of the author and are not held by the BBC unless specially stated The material is for universal information only and does not constitute investment, duty, legal or other form of advice You should not rely on this information to create (or refrain from making) any decisions Always obtain self-governing, professional advice for your own particular situationAnnuity reform Women 1 Women 2 retirement fund rights Divorce Work pensions Lump arithmetic Pension Credit Frozen pensions Shortfalls Overseas pension little pensions Tax and pensions Pension repair Made simpleState retirement fund With-profits Final salary Money purchase Annuities Serps State Second.
Read More: Claiming Benefits Made Easy >>Young people 'failing to set up pensions' - Published:11/11/06
Graduates could be risking half of their retirement fund total if they delay their aid until the age of 30, according to HSBCThe research discovered that 50 per cent of 16 to 24-year-olds believe they are too young to begin believeing about contributing to a pensionrelated to this, 90 per cent of this age group along with 44 per cent of 25 to 34-year-olds, are not currently paying into a retirement fund schemeIan Martin, head of pensions and departure income at HSBC, explained: "There has been a huge deal of talk about pensions recently and it appears that older workers are preliminary to perceive sound the message about the importance of planning for their departure"But for graduates starting work for the first time, retirement seems a long method off and their pension just isn't a priority"Mr Martin continued to give details that with the basic state pension being £8425 and likely to reduce, pensions should be at the forefront of people's mindsHSBC's stakeholder retirement fund requires the individual to make a sum of £20 and the number of aid is entirely up to the individual.
Read More: Young People 'Failing To Set Up Pensions' >>Millions plan to retire to the sun - Published:12/10/06
THEIR parents' retirement vision might have involved a bungalow by the seaside and pottering about in the garden But nnear the beginning a third of Briin the direction ofns desire in the direction of move overseas when they sin the direction ofp operational, according in the direction of a novel learnThey see themselves heavy soft-in the direction ofp sports cars in southern Spain or Australia in their sixties rather than in the direction of come for a bus on the prom in EastbourneThe findings, from a pensions industry learn, add in the direction of growing evidence that the number of Briin the direction ofns leaving the country is hugeer than at any time since the 1970s They suggest both that a huge number are anxious in the direction of find warmer, more exciting and less heavily-taxed seats in the direction of live in retirement, and that many have the income in the direction of do soPaul Shelley, of Clerical Medical, the company that carried out the survey with ICM Research, supposed: 'The future retiree has huge aspirations for travel, vocation, hobbies, and for things like buying novel cars - one in six see themselves heavy sports cars However, they are also realistic about how extended they have in the direction of work in the direction of pay for their aspirations'The survey found that 30% now see themselves retiring overseas Even among those content in the direction of spend their retirement livelihood in Britain, nnear the beginning eight out of ten still desire in the direction of travel overseas, according in the direction of the Clerical Medical census, taken among 1,028 adults last monthThe number who expect in the direction of leave Britain when they finish operational is many times the moderately small proportion who in the past have made it in the direction of villas in France or apartments on the Costas The survey found that only 10% know someone of their parents' generation who has retired overseas One in four supposed they desire lives in retirement that will be nothing like those of their parents and grandparentsAlthough company pensions are no extendeder as reliable as in the past and private pensions are dependent on the presentation of the sin the direction ofck market, one in five thinks that their expects of retiring overseas are realistic and achievable Of those looking in the direction of escape overseas, 20% desire in the direction of go in the direction of Spain, 29% look elsewhere in Europe, nine% expect in the direction of go in the direction of Australia and six% would like in the direction of retire in the direction of the USMr Shelley supposed: 'We think one of the reasons for the increasing trend in the direction of retirement overseas is the increasing international mobility British people enjoy People go overseas on holiday, they are exposed in the direction of different lifestyles, and they desire in the direction of life like that permanently'The learn comes in the wake of evidence of large numbers looking in the direction of build operational lives in countries where they expect better opportunities and a better environmentLast month, Foreign place of work figures showed that nnear the beginning fivem Briin the direction ofns are livelihood overseas The Foreign place of work believes there are nnear the beginning 200,000 Briin the direction ofns livelihood in Spain, another 200,000 in France, more than 600,000 in Australia and half am in the USSince many of those operational overseas are probable in the direction of stay on when they sin the direction ofp operational, the numbers of Briin the direction ofns retiring in the direction of foreign countries will be boosted enormouslyMr Shelley supposed seven out of 10 people desire in the direction of retire before 60 but fewer than half think they will manage it 'More than half think they will keep operational up until 65 or beyond,' he addedMARIE and Arthur Ottley have had a novel lease of life since leaving Essex and moving in the direction of France 'It's the extended hot summers and the short, mild winters that we really love,' supposed Mrs Ottley'We play golf and tennis and enjoy cycling or hiking in the countryside You just go with a map and find novel seats We often take the car and visit seats, because you don't sit in traffic jams and the hotels are relatively cheap'We just went in the direction of the Dordogne and are planning in the direction of go in the direction of Brittany next month These areas used in the direction of be somewhere that you visited once a day on holiday Now we just hop in the car and go there for a few days'The couple, who quit Colchester for the village of Melle in the Cognac area of south-western France, supposed life is much more sociable in their adopted country Mrs Ottley, 63,whose spouse is aged 72, supposed: 'There are village get-in the direction ofgethers where there is a huge barbecue There is a lot more self-consciousness in England where, if you take part in these sorts of things, you feel a bit strange Over here, you feel strange if you don't take part It's a much more relaxed lifestyle in France and it's a much fuller life'Despite moving overseas, the couple, who used in the direction of sprint an insulation company, regularly see their son He lives ten notes from Stansted airport in Essex and there are cheap flights from Poitiers or La RochelleANDREA and Roy Speakman have found their money goes a lot further since they moved from Yorkshire in the direction of north-eastern Spain when they in the direction ofok near the beginning retirement three days ago 'We are on a fixed income, yet we go out in the direction of eat two or three times a week here, whereas in England it would probably have been once a month,' supposed Mrs Speakman, a 59-day-old former bank worker'Our fuel bills are a third of the price at house and council tax is €400 (about £272) We were already paying £1,000 in England three days ago'Mrs Speakman and her 60-day-old spouse, a former security guard, both pictured, sold their semi-detached house and bought a possessions in L'Escala, a small in the direction ofwn on the Costa Brava'The weather in Spain makes it much easier in the direction of go out and do things,' supposed Mrs Speakman 'We both like walking and my spouse loves cycling, which we can now do all day round Where we live is less than an hour's drive from the French border, so we often go inin the direction of the Pyrenees We are also members of two expat associations so we are a lot more sociable than we were in England'The couple are a short walk from dirty beaches and a restricted market Gerona airport is a half-hour drive away and they are 90 notes from the bustling areaal capital, Barcelona 'We have so many friends in the area we always knovel we'd retire here,' supposed Mrs Speakman 'We have only one regret - that we didn't move here sooner'Sounds huge but possessions prices in Spain appear high compared with Florida For instance a 2 bed + 2 bathroom condo located near the beach in middle Florida (Melbourne) area can still be acquired for £50000 and with a chance in the direction of let out in the direction of the restricted market (ie not just holiday lets) offsetting the mortgage repaymentsSelect a loan term 6 months 1 day 18 months 2 days 3 days 4 days 5 days 6 days 7 days 8 days 9 days 10 daysPlease choose a type of insurance existence insurance Home and contents Car Breakdown services physical condition - medical physical condition - dental Travel Pet - dog Pet - cat GO.
Read More: Millions Plan To Retire To The Sun >>