7 Dec, 2007
The most important key to the effective management of money involves time. The more time that you are capable of investing in the management of your affairs, the greater the return will be as a result of your investment. The earlier that you begin to manage your money, the more effective you will be when it comes to accomplishing your goals. There are too many people who try to go about managing money when it is too late in their life, and managing the money you have left is not as effective as managing your money as it comes in. In essence, there are four different questions that need to be answered by any money management programme that you participate in.
- What financial goals do you have?
- How soon do you want to achieve your financial goals?
- What funds do you already have available?
- What risks are you willing to make in order to reach these targets?
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10 Jul, 2007
While the headlines about the state of the pension industry, and company pension schemes in particular, may have calmed down, the situation is still getting worse behind the scenes. Research has shown that 8 out of 10 final salary schemes are now closed to new members, with many members being pressurised into considering a conversion to money purchase schemes.
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6 Jun, 2007
In what was not a widely unexpected defeat for the government, the Lords have introduced an amendment to the recent Pension Bill demanding an increase in compensation payouts to those who have suffered from the collapse of their company pension schemes. The amendment brings the Financial Assistance Scheme into line with more recent regulations promising to cover 90% of “core†pension entitlements against only 80% for earlier victims.
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28 May, 2007
For many years we have seen consumers place great trust in the so called “Best Buy†tables in many of the financial magazines. While they do offer a summary of the best offers available at the time, many in the industry have great reservations. Do all companies have the same access to these lists? Maybe not….
Insiders in the industry claim that :-
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15 May, 2007
The public sector by a mile!
It has been revealed that public sector workers are receiving massive benefits over private sector workers with regards to national insurance contributions and pension arrangements. This figure has been calculated at some £50,000 over the span of a normal working life and is sure to cause massive resentment in the private sector.
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11 May, 2007
It has recently been announced that the number of complaints from people who were potentially mis-sold State Pension opt out plans soared last year. Rising from 115 in 2005 to 954 in 2006, there is concern that many many more people may have been wrongly advised.
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