Collective funds boost pensions by a third

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Collective funds boost pensions by a third

Collective funds boost pensions by a third
Pensioners might see their income boosted by a third if the Government introduced “collective” pension schemes popular in Denmark and Holland, according to a report commissioned by the charity Royal Society for the Encouragement of Arts, Manufactures and Commerce.
The Daily Telegraph, p. 18

Give a dog a bone, and a £1,500 police pension
Police dogs in Nottinghamshire will be given pensions worth as much as £1,500 each in a unique scheme. The pension plan, the first of its kind in Britain, will ensure that the animals have their medical bills paid after are retired from service. Officers in Nottinghamshire, including those who work with the force’s 26 dogs, welcomed the decision, saying they regarded the animals as fellow officers.
The Daily Telegraph, p. 6
Also appeared in : The Times, p.24

HSBC optimistic on growth
Europe’s biggest bank is optimistic about growing signs of economic recovery in its major markets, HSBC’s chief executive, Stuart Gulliver, said yesterday. His upbeat comments came as HSBC revealed that headline profits grew by 10 per cent to $5.1bn (£3.2bn) in the three months to September.
The Independent, p. 53
Also appeared in : Independent i, p.42, Evening Standard London, p.49, City AM London, p.4, The Daily Telegraph Business, p.5

Co-op Bank job cuts
The Co-operative Group announced plans to shut 50 branches of the ailing Co-op Bank and shed thousands of jobs as part of a revised rescue deal that hands control of the ethical lender to a group of vulture funds and hedge funds that includes Aurelius Capital and Silver Point Capital.
The Times, p. 43
Also appeared in : City AM London, p.3, Financial Times Companies and Markets, p.17, Independent i, p.41, The Daily Telegraph Business, p.1-4, Independent i, p.6, The Guardian, p.4, The Times, p.45

HSBC admits it is part of currency markets inquiry
HSBC has admitted that it is co-operating with the global investigation into possible manipulation of the £3tn-a-day currency markets and revealed it had more than doubled the number of staff dealing with legal and regulatory issues to 4,700. Reporting a 30% rise in profits to $4.5bn (£2.8bn) in the third quarter, the bank also disclosed it was reviewing sales to 200,000 customers in the UK who bought wealth management products after 2008. .
The Guardian, p. 29
Also appeared in : The Guardian, p.29, The Times, p.44, The Times, p.45

OFT questions banks on errors
Britain’s banks have been ordered by the Office of Fair Trading to come clean about any historic errors involving loan agreements after the consumer watchdog became concerned that a pattern of problems may be emerging in the wake of multimillion pound compensation payments by Northern Rock, the Co-operative Bank and Barclays.
The Guardian, p. 29

Interest rates forecast to rise in 2015
Interest rates are set to rise in the second half of 2015, almost a year earlier than the Bank of England planned, according to today’s forecast from the National Institute of Economic and Social Research (NIESR).
The Independent, p. 55
Also appeared in : The Times, p.10

Rates tipped to rise long before Bank’s forecast
The Bank of England’s forward guidance policy may end years sooner than projected, according to a surprising new analysis by the National Institute of Economic and Social Research.
City AM London, p. 2

Wonga, the movie aims to swerve critics’ barbs and generate interest
Wonga is attempting to win the hearts of its critics with a film that promises to tell the “real stories” of its hard-pressed borrowers. Twelve Wonga customers are the stars of a 30-minute film commissioned by the firm to counter criticism that it targets the vulnerable with interest rates of up to 5,853%. For Wonga the film marks the start of a PR fightback against what it calls a ceaseless misrepresentation in newspapers.
The Guardian, p. 7

The above articles appeared on 05/11/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.