Retirement fears and daily round-up

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Retirement fears and daily round-up

Whose fault is it if you can never afford to retire?
Figures released yesterday show that there are 1.5 million over-65s still working – a number which has doubled in the past decade. Forty per cent of them, in a survey for NFU Mutual Insurance, feared never having enough money to retire.
Daily Express,  p. 12
 
State workers still get better pensions
A report from the Pensions Policy Institute has shown that public sector workers enjoy pensions that are worth 50 per cent more than the retirement payouts given to many private sector workers.
Daily Mail,  p. 17
 
Forget the job it’s the pension that’s worrying most employees
Over half of British employees are worried about their financial future and six in 10 say retirement security has become a higher priority over the last three years. Over a quarter (26 per cent) of workers said that their employer’s retirement benefits do not meet their needs and a fifth (20 per cent) said employers do not do a good job of explaining their benefits programmes which is worrying as the Government’s automatic enrolment into pensions initiative began this month to encourage more people to save for their retirement
Evening Standard London,  p. 42

Nationwide cuts its rates again
Nationwide has cut rates across the majority of its fixed rate mortgages by up to 0.20 per cent and tracker rate mortgages by up to 0.10 per cent, effective from today. This is the second rate reduction announced by the building society in the past fortnight.
The Independent,  p. 54-55
 
Mortgage approvals drop amid interest-only alarm
Mortgage approvals have continued to shrink over the past year, new figures showed yesterday, as officials sounded the alarm over the future for homeowners on interest-only mortgages.
The Times,  p. 38
Also appeared in : The Times,  p.35

Households reluctant to take on new borrowings
The British paid down some £200m of overdrafts and loans last month, the high street banks reported, saying households had “no appetite” for debt.
The Daily Telegraph Business,  p. 8

Easy money cannot last forever, warns Bank of England chief King
Low interest rates and money printing may fail to help the UK in the long run, as the loose policies act to postpone a very necessary readjustment of the economy, according to the Bank of England governor Sir Mervyn King.
City AM London,  p. 1
 
Time to share in banking’s recovery?
Investors may have barely noticed, but banking stocks have rebounded sharply in recent months.Lloyds Banking Group has risen about 35 per cent since July, Royal Bank of Scotland (RBS) is up more than 40 per cent and Barclays has rocketed 50 per cent. This offers some relief to shell-shocked shareholders who have been grimly hanging on to their banking stocks since the financial crisis.
Daily Express,  p. 32-33
 
King says BoE tactics are losing their bite
Sir Mervyn King has warned that the Bank of England’s unorthodox actions to turn round the UK’s flagging economy were reaching the limits of their effectiveness.
This abstract from the Financial Times was produced by Kantar Media
Financial Times,  p. 1
 
Stuck in low gear
In a report on the UK economy, Chris Giles writes that Britain’s freedom to devalue the pound and set interest rates has not allowed it to steer clear of the doldrums in which the eurozone is caught.
This abstract from the Financial Times was produced by Kantar Media
Financial Times,  p. 11

The above articles appeared on 24\10\12 reproduced with the kind permission of Kantar Media UK . All rights reserved.