Bombardier lost its battle for the production of trains for Thameslink, which in its turn resulted in job cuts at the company’s plant in England.The world-famous Canadian aircraft and train maker Bombardier recently announced it will cut jobs at its plant in Derby, England. The company has lost the battle for the governmental contract to... Read more
The latest data revealed by HM Revenue and Customs suggests that pension contributions have decreased because the British economy still imposes significant pressures on people, who try to make ends meet.In the 2009-2010 tax year, contributions in personal and stakeholder pensions fell by more than 1 billion as 430,000 UK Brits chose not to put... Read more
One of the surprises that were revealed in Comprehensive Spending Review 2010 by Chancellor George Osborne is the early hike in UK state pension age.The previous Labour government planned to introduce it in 2026; however, Osborne claimed that the increase from 65 to 66 years for both, men and women, will start in 2018 and will be completed by... Read more
On October 14th, the UK government announced that it will cut the annual tax pension allowance to £50,000, down from £250,000.Even though the figure has been slashed 5 times and will significantly affect UK taxpayers who save for their pension, financial experts say that the situation is not as bad it could have been. According to the... Read more
A recent research carried out by Barclays Bank, the 4th largest lender in Great Britain, showed than more than half of rich UK individuals are not planning to retire. Instead, they say they want to keep working even in their later years.This means that the plans of the British government to increase the 65-year-old retirement age are rather... Read more
Pensions Management, a British magazine that features authoritative opinions on pensions and investments, suggests that there is a reasonable way to deal with the ageing of UK workforce. Experts of the magazine claim that older workers should be offered consultative or advisory positions instead of physically demanding ones.In the opinion of Mr.... Read more
UK financial experts are determined that the changes the British Government plans to make to the pension legislation will turn pensioners' lives into a nightmare.Let us remind that the Department for Work and Pensions (DWP) wants to link increases in private pension to the CPI (Consumer Prices Index), whereas earlier pensioners were promised to... Read more