Tag Archives: Financial Services

Financial Services

Payday Loans Paid Enter the UK Payday Lending Market

Paydayloanspaid.co.uk has entered the payday loans online market in the United Kingdom. With a team of financial experts who bring with them an inordinate amount of experience in the unsecured loans sector in the UK, they aim to bring something different into the challenging internet, payday lending sector.

Head of online operations, Jenny Statham explained, ‘’Many payday loan applications are declined from a number of the main lenders in the United Kingdom due to their reliance on passing one application. Our payday loans are slightly different in that we can use our strong relationships with some of the payday lenders to ensure the majority of the applications are approved.”.

Payday loans are a somewhat sensitive subject and have featured heavily in the mainstream British press in recent times, but it appears they could be featuring in the UK lending sector for some time. With some APR’s of payday loans surpassing 4 figures, they have – in some quarters – been rightly criticised. Jenny Statham added, ‘’ we try to make sure any potential applicant are fully aware of the associated costs that come with the payday loan agreement they enter into.  Our advice to people who are considering entering into a payday loan agreement with  a lender they have sourced through Paydayloanspaid.co.uk is to primarily focus on the repayment terms, if they are unable to meet the repayments costs then it is important they do not take on the payday loan.”

With a plethora of payday loan operators frequenting the internet it can be difficult to decide what lender to choose from.  Jenny Statham advised, ‘’if you are looking to secure a payday loan, it is important not to use the first lender you find. Spend some time researching the different providers to ensure you get the very best deal. As there are so many in competition with each other now, there could be some great deals to be found out there”.

Paydayloanspaid.co.uk is one of countless payday loan lenders in the United Kingdom in what some commentators are calling a ‘’saturated market”. They hope, however, to hit the ground running with an easy to use online portal, quality customer service and modest acceptance rates for new applications. Jenny concluded, ‘’we hope to attract people to our online portal who may not have used a payday loan, but have the capacity to service the loan, as new applications will typically have a greater chance of being accepted for a payday loan through our approval system”.­­­­­

Via EPR Network
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Paydayloansavailable.com Aiming to Decrease Application Times

Paydayloansavailable.com is the latest online payday lender to have adapted an online lending portal to service UK residents who may be in need of an unsecured lending facility. With the onset of broker style lending,  payday loans are now being processed online in the UK by many service providers using state of the art ‘’Pingtree” technology, working in unison with the UK’s leading payday lenders, and the application facility now being operated by Paydayloansavailable.com is certainly no exception.

The application harnesses secure technology to enable new and existing applicants to push their details through to a panel of lenders after submitting one application form online. The details are transmitted through to the lenders via the application and the subsequent decision is made by one of the chosen payday loan lenders. Jenny Davis, applications manager at Paydayloansavailable.com explained, ‘’we have decided to integrate a Pingtree style application within the site to give applicants a credible opportunity to access funds. The main advantage we have is that all of our applications are submitted to different lenders. The payday providers will then either accept the loan application based on the data that has been submitted, or it will be declined. Either way there is a reduced time implication which can only serve to benefit our customers”.

Online payday lenders are now entrenched within the UK’s unsecured finance sector and it is evident the increased competition has not always culminated in an improved service provided. But, Paydayloansavailable.com aims to at least serve their customers quicker than ever before, as well as giving them increased opportunity to secure short term, unsecured funding online. Jenny Davis added, ‘’there is still a real need in the UK for short term loans and unfortunately there is not the availability of funding through the mainstream lending channels. Whilst we do not condone irresponsible lending, it is important to acknowledge there is a need for credit and we hope to be able to provide an opportunity for finance”.

Paydayloansavailable.com is aiming to make an impact on the lending sector in the UK. Despite their relatively short time operating online, by implementing cutting edge technology into their service provision, they may well be making a positive statement of intent.

Via EPR Network
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Pioneer Services to Give Away $1,000 and Apple iPads® to Eight Lucky Service Members

Pioneer Services will make this holiday season one to remember for eight service members and their families thanks to the Mega Merry Giveaway, a sweepstakes just for active-duty or career-retired service members and their spouses. There will be four winners of $1,000 and four iPad winners—one winner of each from each military branch.

“The Mega Merry Giveaway is our way of thanking those who serve for all they have done for our nation, and in a way that captures the season’s spirit of giving,” said Karen Von Der Bruegge, chief marketing and retail operations officer for Pioneer Services. “The best part—other than the chance to win a thousand dollars or an iPad—is that there is no obligation and no strings attached. All they have to do is be on active duty, career-retired, or a military spouse, and they can enter to win. It really is that easy.”

Those who qualify can enter on the company’s Facebook page at Facebook.com/PioneerServices, or at www.MegaMerryGiveaway.com, which is also where they can find complete rules and details.

“We are incredibly excited for the winners to be selected December 11,” added Von Der Bruegge, “because that is when we will find out who is going to have a very merry holiday season on behalf of Pioneer Services.”

Pioneer Services, the military banking division of MidCountry Bank, provides financial services and award-winning education to members of the Armed Forces. For more than 25 years, Pioneer Services has been a leader in military lending, offering military loans,retail lendingVA loansCertificates of Deposit, savings accounts, and award-winning financial education programs through a network of offices and on the Internet. Pioneer Services is proud to support military families and communities through a variety of partnerships, programs, and sponsorships.

For more information, visit PioneerServices.com. For loan information, visit PioneerMilitaryLoans.com.

Via EPR Network
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Umbrella Company Tarpon Encouraged By Report Showing PAYE Umbrella Contractors Prosper Within Financial Services Sector

Umbrella Contractor Tarpon have been encouraged by new research released by the specialist recruitment company Marks Sattin. It was revealed that salaries amongst financial services professionals rose by 8% during last year, and are predicted to rise by a further 13.5% this year.

Managing Director of Marks Sattin, Dave Way, said that the recession had had a negative effect on salary increases last year as employers looked to balance their deficits. If such trends were to continue into 2011, he explained, we are looking at similar rises (8.5 per cent), however, there are signs of optimism amongst professionals in the sector that business will pick up.

Mr Way added a cautionary note, however, and suggested that any hopes of a salary rise of 13.5% may be “over optimistic.”

Umbrella company Tarpon commented on the findings. A spokesperson for the company said:

“The study’s finding that pay rates for temporary staff in financial services remained higher than those for permanent staff and freelancers on long-term contracts is obviously great news for our sector.

“However, the findings should not be taken as read, when an alternative study has found that a sharp decline in financial services recruitment has declined.”

The contrasting study in question revealed that the two 4-day weekends in April was largely to blame for such a drop in recruitment. The study also stated that investment banking jobs declined by 30 per cent during the month, and that there was less recruitment activity in hedge funds and stockbroking.

Despite this, recruitment for investment banking countered the general trend by rising 19 per cent on the previous month. For umbrella company Tarpon, the signs overall are positive.

Another set of results published this month by the Recruitment and Employment Federation demonstrated that, although the pace of contract staff recruitment is on the up, the pace of expansion was at its lowest dso far in 2011.

Via EPR Network
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MidCountry Financial Hires Chief Accounting Officer – Adds Additional Planning, Compliance, And Industry Experience To Seasoned Executive Team

MidCountry Financial Corp. (MCFC) is pleased to announce that Darren Cantlay has joined the executive team as Vice President of Accounting and Finance, and Chief Accounting Officer. In this newly-created position, Cantlay will manage all financial reporting, budgeting, financial systems, and tax functions for MCFC, among other things, and will also assist with strategic planning and overall financial management for the organization. Cantlay begins his new role Sept. 1, 2010.

“We’re extremely excited to have Darren join the MidCountry Financial family,” said David Hall, chief financial officer for MCFC. “He brings a diverse and extensive set of financial skills to the company, and he will be a valuable asset as we continue to grow and expand our organization.”

Cantlay has more than 15 years of experience handling a variety of accounting, compliance, planning, and operational issues for a variety of financial institutions, including McIntosh Bancshares, the Bank of Ellijay, Appalachian Bancshares, and United Bank Corporation. He has previously held the positions of chief financial officer, chief operating officer, controller, and accountant.

A graduate of Valdosta State University, Cantlay has been an adjunct faculty member at Griffin Technical Institute, where he taught both accounting and tax courses. He is a member of the Georgia Society of Certified Public Accountants, the American Institute of Certified Public Accountants, the Institute of Management Accountants, the Georgia Bankers Association Asset Liability Committee, and was Secretary of the Gilmore County Rotary Club from 2008-2009.

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Compare Life Insurance Quotes From A Wide Range Of Providers

Since the start of the global recession in 2008, consumers have become more and more frugal with how they spend their money and approach their finances as a whole. Redirecting funds from high end or luxury products such as property and cars, consumers have begun to avidly protect their savings as well as shop around for better deals on other financial products.

Compare Life Insurance Quotes From A Wide Range Of Providers

It’s no surprise – with an increase in market activity – that life insurance premiums are the lowest they’ve ever been with prices gradually dipping over the last ten years. With insurance providers across the board offering competitive deals whilst attempting to stave off the recession themselves, it would seem the arrival of QuoteBoffin.co.uk couldn’t have come at a better time.

The new QuoteBoffin.co.uk website [ http://www.quoteboffin.co.uk ] allows consumers to get competitive quotes for life insurance by comparing the market. Once completing a simple online form, QuoteBoffin.co.uk aims to have an advisor contact consumers within 24hours to discuss the most economical and competitive options available from a range of insurance providers on the market.

Refreshing offers and provider database on a daily basis, QuoteBoffin.co.uk vows to be “a one stop shop for some of the most up to date life insurance quotes on the market today.” The company also hopes that their emphasis on simplicity, ease of use and the clarity of their online form will encourage people to get a better deal and compare life insurance quotes to save both time and money.

The newly launched QuoteBoffin website also emphasises the importance of life insurance cover describing it as ‘invaluable’. Currently less than half the UK population have life insurance which – should there be a death in the family – can leave loved ones the unfortunate task of having to pay off huge debts or mortgages in the name of the deceased. Organising an affordable life insurance package not only takes moments to do but ultimately provides peace of mind.

About QuoteBoffin
Quoteboffin.co.uk is an online insurance comparison website offering life insurance comparison tools that allow users to search the market and procure the best life insurance policies and quotes.

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Midcountry Bank Honored By USDA For Increasing Rural Home Ownership

MidCountry Bank was recently recognized by the U.S. Department of Agriculture and Rural Development (USDA) for utilizing federally-guaranteed mortgages that increased, and made more affordable, home ownership in rural Illinois. Each year the USDA honors lenders that excel in using the federal agency’s guaranteed loan program in rural areas.

“In this difficult housing marketing, MidCountry Bank is committed to using Rural Development’s guaranteed home loan program to help as many homebuyers as possible,” said Jim Davis, a Rural Development specialist in the USDA’s Marion , Ill. , office. “They helped borrowers buy their first homes, or upgrade to better homes. We are extremely pleased with MidCountry Bank’s achievement.”

MidCountry Bank provided Illinois homebuyers with more than $1 million in Rural Development-backed loans in 2009. With the Rural Development guarantee, MidCountry Bank offers 100 percent loans with no required down payment, no private monthly mortgage insurance (PMI), no maximum purchase prices, competitive fixed interest rates, and 30-year terms. The program also includes flexible credit guidelines and generous income limits.

“This program has helped put many families into a home and strengthened rural communities by providing stability in a challenging housing market. It is easily the best 100-percent program in the market,” said MidCountry Bank Regional President Randy Forby. “We’re proud to have received this honor from the USDA, and even more so to have helped families throughout rural Illinois realize their dreams of homeownership.”

For nearly a decade, MidCountry Bank has been serving the communities of southern Illinois and central Minnesota with a full spectrum of financial products that are matched with excellent customer service. Its retail banking division offers a variety of deposit and loan products to meet consumers’ needs, its business division helps small business by providing them with the financing they need to grow, and its military banking division serves those who serve our nation with personal loans and award-winning financial education programs. Every MidCountry Bank associate is dedicated to creating a high-quality and well-respected financial services organization, and is committed to the values of integrity, fairness, honesty, excellence, and compassion.

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Apex Signs up to Tracesmart’s Online Debtor Tracing Facility

Tracesmart Corporate has been appointed by Apex Credit Management to provide their proprietary data cleansing and online tracing services. The intuitive web based tracing system offers a single source solution, which permits the rapid and confident tracing of gone aways and absconded debtors. The facility will provide Apex with the means to conduct their tracing activities, both efficiently and ethically.

Apex Credit Management is a rapidly growing credit management provider. Headquartered in Stratford-Upon-Avon, the business is focused exclusively upon providing debt management services to the financial services sector; notably early arrears outsourcing, debt collection, debt purchase and tracing services. The company was established in 2000 as a specialist UK based consumer debt collection agency.

Apex recently created a new division, Apex Discovery Solutions, which provides dedicated tracing solutions to the financial services sector. Based in West Malling, Kent, the new enterprise boasts a large team of tracers to fulfil the recent uptake in demand from this sector. Head of Trace is Jamie McGrath, who with over twenty years of experience in the debt recovery and debt purchase sectors has extensive knowledge of tracing and compliance. Commenting on the company’s new partnership with Tracesmart, McGrath remarked, “Forging an alliance with Tracesmart enables us to broaden our data cleansing and tracing services across our client base, which will assist us in our goal of becoming a data led, ethical and compliant trace provider.”

Tracesmart is one of the UK’s leading data specialists, providing debtor tracing and consumer data services to a vast number of the country’s credit management companies. In addition to people tracing, the company also offer identity checks and anti-money laundering services to a varying and growing legion of businesses and industries.

Commenting on the new partnership, Chris Rothwell, Tracesmart’s Sales Director remarked, “We are delighted that Jamie and his recently established Apex division have chosen Tracesmart for their tracing and data solutions. Our debtor tracing facility is industry leading; we are confident we can provide increased productivity and efficiencies to any credit management organisation. We look forward to providing a first-rate and cost-effective service to our new partner, Apex.”

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LV Launch New Website For Advisors

LV=, the leading retirement solutions and protection provider, has launched a new website for advisors. The new site brings all elements of previous web offerings for advisers from LV= together in one place, with various added benefits and services.

Among the additions to the new LV= advisor website is access to the full range of award-winning LV= products without having to log-in, with log-in only required for product quotes and applications. The log in process itself has also been simplified on the new site, with users having the option to use Unipass for further online security.

Users visiting the new site will also enjoy improved site navigation and the opportunity to download a range of product toolkits and support materials. Advisers can apply online to LV= for terms of business.

Justin Harper, Head of Adviser Marketing at LV=, said: “We are delighted to announce the launch of our new adviser website. It was designed with one goal in mind – to make it as easy as possible for advisers to access information about LV= products and then transact business with us quickly and efficiently.

“Virtually all the information advisers need is just a couple of clicks away, so they can get the support they need with no hassle. A simplified log-in process, or the ability to use Unipass, means that getting quotes and submitting product applications is easier than ever.

“We are always looking at ways to improve the service we give to advisers and our new website is just one step along the way. Watch this space for further developments.”

About LV=
LV= is a registered trademark of Liverpool Victoria Friendly Society Limited (LVFS) and a trading style of the Liverpool Victoria group of companies.

LV= employs more than 3,800 people, serves over 3.6m customers and members, and manages around £7bn on their behalf. We are also the UK’s largest friendly society and a leading mutual financial services provider, supplying retirement solutions and many other award winning LV= products.

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Top Self Directed IRA Firm And Leading Precious Metals Broker Pair Up To Provide Investors With Alternatives

The New Mexico based self directed IRA firm Sunwest Trust (www.SunwestTrust.com) announced today that they have reached an arrangement with Republic Monetary Exchange (www.RepublicMonetary.com), a leading precious metals broker based in Phoenix, Arizona. Under their arrangement, Sunwest Trust will provide exclusive self directed IRA custodian services for Republic’s client investment accounts, described by Jim Clark, CEO of Republic Monetary Exchange as a “win-win situation for our clients”.

For Sunwest, this partnership represents an extension of the firm’s IRA custodial and escrow services to the precious metals market, a move likely to be adopted by an increasing number of firms in the financial services sector.

“Consumers are becoming interested in investment vehicles which are less vulnerable to the ups and downs of the stock market. We’re seeing a lot of new IRA accounts at Sunwest from clients who want to purchase gold and other precious metals inside their IRA portfolios. Until 2007 it was primarily real estate, but now we’re starting to see an increase in the number of gold or precious metal backed accounts,” said Terry White, CEO of Sunwest Trust.

With a growing concern among the public about the possibility of inflationary pressures driving down the value of their IRA accounts and other investments, the number of consumers choosing to invest in gold, silver and other precious metals has been steadily increasing over the past few years, with brokers like Republic Monetary Exchange gaining market share in the financial services sector rapidly.

The relative stability of gold and other precious metals makes them an especially popular investment in a sluggish economy, especially when compared to traditional stock and securities investments. Given the uncertain economic outlook for at least the next few quarters, Sunwest Trust Inc. and Republic’s new relationship looks to be one, which is certain to attract investors looking for stable retirement investment vehicles such as the self directed IRA or a gold-backed IRA account.

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The Children’s Mutual Reports Kids Unaffected By Recession This Christmas

According to research by a leading Child Trust Fund (CTF) provider, The Children’s Mutual, children in the UK are set for a bumper Christmas this year, receiving £5 billion of presents. With generous friends and family set to spend 20% more than last year on youngsters, it seems the recession is not impacting kids’ stockings just yet.

The average UK child will receive £380 worth of presents this year, compared to £316 in 2008. In total, UK kids will have over £4 billion worth of toys and other presents underneath their trees, along with £960 million in cash, with each child receiving an average of £73. More than a quarter of lucky UK children will get £100 or more.

The Children’s Mutual is urging parents to take advantage of the generosity of friends and family this Christmas by asking them to invest in a present that could last a lifetime.

David White, Chief Executive of The Children’s Mutual, said: “It’s great news that the recession is not affecting kids’ stockings this Christmas. However we are urging parents to think about their children’s futures and ask friends and family to invest a portion of this money for the long-term.”

The Children’s Mutual also found that a lot of money is spent on presents that often don’t last for more than a couple of months.

David White continued: “Around £200 is spent on presents that won’t make it past Easter, but if this money was invested in a Child Trust Fund each year, it could be worth £6,100* by the time it matures when the child turns 18. This way friends and family can give a gift that could last well beyond the child’s 18th birthday and providing them with a nest egg for the future.”

According to figures from The Children’s Mutual, top ups into Child Trust Funds get a timely boost at Christmas with an average increase in ad hoc payments of just under 25% during the festive period.

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children (born on or after 1 September 2002). Each newborn child receives a £250 Child Trust Fund voucher (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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The Children’s Mutual Launches What I Want To Be Webmercial

The Children’s Mutual, a leading Child Trust Fund provider, has captured the career aspirations of kids in the UK in its new webmercial and microsite.

Dressed to reflect the most popular career choices, babies from seven to 11 months are seen acting out different job roles in the 50 second web ad.

The What I Want To Be webmercial was prompted by research from The Children’s Mutual into the dream jobs of the nation’s children entitled What I Want To Be. Every year the research tracks the career aspirations of children as they grow up, to explore how social and economic factors might affect their ultimate career choices.

The brains behind the ad, Head of Online at The Children’s Mutual and dad of one, Nathan King said: “We wanted to engage with a new generation of parents who enjoy and respond to online media. We understand families and their desire to help their children fulfil their ambitions. So while the ad and microsite are a lot of fun our products support parents in helping their children to reach their goals.”

The project isn’t the first time The Children’s Mutual has broken new ground as a CTF provider. The family finance specialist also created the first branded CTF TV advert encouraging parents to save for their children as well as a recently launched animated guide to the Child Trust Fund. The webmercial and CTF microsite now form part of the company’s evolving social media engagement strategy.

According to King: “Personal finance is very few people’s favourite subject but it is a crucial part of daily life. As a family finance specialist we want to try everything we can to help make saving and planning for the future as engaging and straightforward as it can be.”

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives a£250 Child Trust Fund voucher (£500 for low income families) from the Government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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NS&I Reveal Findings Of Families, Finance And The Future Report

NS&I’s ‘Families, Finance and the Future’ report has shown that before having children, Britons believe you should have an income of at least £25,000 per annum to ensure financial security, while 20% of those surveyed said that they would seriously consider not having children because the cost of having them nowadays is so high.

The NS&I report, Families, Finance and the Future, was written by the Future Foundation and commissioned by NS&I. The report was produced by a combination of desk research and original survey work. Figures taken from a nationally representative sample of 1,049 adults aged 16+. Other sources the report used include the British Household Panel Survey, the ONS, Eurobarometer, the Department for Communities and Local Government, and previous surveys conducted by the Future Foundation.

Almost two-thirds (64%) said people should be financially secure before starting a family, while 78% agreed that the standard of living was an influencing factor when deciding on how many children to have. Just 26% of Britons believe that money shouldn’t be a consideration when deciding to start a family.

Tim Mack, NS&I Savings Spokesman, said: “Starting a family is always going to be much more than a purely economic decision, though for some the financial requirement is clearly an income of £25,000 per year. Britons are also considering their financial future when deciding on the number of children they will have.”

More than one in ten respondents (12%) thought that those thinking of starting a family should be earning between £40,000 and £70,000 before having children, while a similar number (13%) believed that they didn’t need anything as they would always be able to get by. Men were more likely to suggest a bigger financial cushion than women – £27,000 per year, compared to just £23,000 for women – while people without children gave much higher estimates, saying people should be earning at least£30,000.

As well as looking at the situation for individuals, the report also argues that finances and families are linked on a larger, macroeconomic, level.

Barry Clark, Account Director at the Future Foundation, said: “Baby booms tend to follow economic booms and the reverse is true too. Our data suggests that over the past 60 years, GDP growth and the change in birth rates in the UK have been closely linked, so we expect that the coming years will show more than ever that finances and families are related on both a personal and national economic scale.”

The primary consideration influences on the number of children people decide to have appeared to be common:

78% – standard of living they can give their children
73% – meeting the cost of raising their children
51% – size of the house they can afford to raise their family in
39% – education they can make sure their children receive

It is evident that perceived affluence has an effect on the birth rate. In fact, Future Foundation research and the British Household Panel Survey both have shown that in European countries where more people have an income that is either in line with or above their financial expectations, families bear more children.

Barry Clark added: “The highest earners would seem less likely to have larger families owing to the demands of, and devotion to, their careers, or a sharper awareness of just how much children cost to raise.”

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Animated Guide To Child Trust Funds

Leading Child Trust Fund provider The Children’s Mutual is pleased to announce the launch of a new cartoon guide to Child Trust Funds – the first of its kind in the marketplace.

The cartoon guide is a five minute animation in a graphic style reminiscent of perennial children’s favourite, Fuzzy Felt. During the film, busy new mum, Mel, (and baby Emily) explain what the Child Trust Fund is, the different sorts of funds that are available, their individual features, how to find a provider and how to go about applying for a fund.

The Child Trust Fund guide has additional link-back buttons at the end that allow viewers to go directly back to sections of particular interest and watch them again. It also gives clear direction to alternative information sources including HMRC.

Marketing Director, Tony Anderson, said: “We appreciate that new parents have very little free time and when they do get a chance to sit down they aren’t necessarily in the mood to wade through financial paperwork or regulatory terminology. But they still want to be sure that they are making the right choices for their children. This is where our animated guide provides a completely new approach to helping customers – through carefully chosen language and functionality. It provides all the salient information about CTFs in easy to understand language and simple to access bite size sections.”

The cartoon guide can be viewed at The Children’s Mutual’s own website and is also available for publications and sites to host themselves to help their own audiences to more easily understand the Child Trust Fund.

Tony concluded: “Opening a Child Trust Fund account can seem like a daunting task, but with our new guide it needn’t be. All we ask is that parents give us just five minutes of their time to help them make an informed decision.”

Child Trust Funds are designed to provide a tax efficient, long term savings vehicle for all eligible children. Each eligible newborn child (born on or after 1 September 2002) receives £250 (£500 for low income families) from the government when their parents register for Child Benefit. The Government will make a second contribution of £250 (£500 for low income families) when the child reaches seven and is considering a third in the child’s teenage years. Parents, family and friends can all then add to this account up to a maximum value of £1,200 each year.

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Workers Beyond Retirement Age To Double In 10 Years

Prudential has revealed that UK businesses are bracing themselves for a surge in staff looking to delay retirement with around 1.8 million people expected to be working beyond traditional retirement ages in just 10 years.

The findings from new research commissioned by Prudential among finance directors at UK businesses found 24% of companies expect staff to work beyond retirement age in the next 10 years, with the proportion of people in the workforce who are past traditional retirement ages expected to more than double to 1.8 million people.

Larger companies expect to see an even greater proportion of their workforce working beyond retirement, with 39% of finance directors at larger firms expecting to have to accommodate requests from staff to work longer.

UK companies anticipate this will mean around 6.3% of their workforce (equivalent to 1.8 million people across the UK working population) will be made up of people working beyond statutory retirement ages in 10 years, more than double the current proportion of 2.6% of company workers (equivalent to around 752,700 people***) who currently work past retirement.

The study also found that in the past 12 months alone, 7% of finance directors have reported an increase in the number of employees asking to work past traditional retirement ages.

Martyn Bogira, Prudential’s Director of Defined Contribution Solutions, said: “As health and longevity continue to improve and people look to fund a longer life in retirement, it is inevitable that compromises have to be made.

“The statutory retirement age for men and women is due to rise to 68 by 2046, so working longer will be a fact of life for those entering the workforce today but these findings suggest that increasing numbers of pensioners will be forced to work later far sooner than this. Employers have told us that their staff costs could rise as their employees work for longer.

“Workers face the stark choice of either having to save more for their pension from an earlier age or having to work longer if they are to avoid taking a significant drop in their standard of living in retirement. Early pension saving is critical and we strongly encourage people not to delay starting a pension.”

The research also identified a clear North/South divide. Companies in the north of the country expect an average of 16.2% of their staff to work past the statutory retirement age compared with an average of 2.4% in Greater London and the South East.

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New Tax Law for Roth IRA May Be a Bad Deal for Taxpayers

In 2010 millions of Americans will be able to do something they have never done before—convert their IRA into a Roth IRA account. Current 2009 limitations do not allow anyone who makes more than $100,000 per year to convert their traditional retirement funds into a Roth IRA.

However, beginning in 2010, the Roth IRA conversion restrictions are being lifted. But is this really a good thing for taxpayers?

“Roth IRAs are a bad idea for taxpayers because they are paying taxes now in order to avoid paying taxes on distributions that are taken later,” said Jeff Nabers, CEO of Nabers Group. The problem is partly the economic crisis that we are in. “It makes sense if we were in a commodity-based monetary system, but we’re not. We have a fiat currency system that creates an inflationary environment in which Roth conversion is a good deal for the government and a bad deal for the taxpayer.”

Additionally, the Roth IRA conversion can be costly for the taxpayers. If they opt to convert their traditional IRAs to Roth IRAs, the IRS will view this as a taxable event. Accountholders will be taxed based on the entire conversion amount for their current tax bracket. The income taxes due on the 2010 conversion can be spread over two years. However, future conversions must be included in income reports to the IRS and will be taxed during the tax year in which the conversion is completed.

Nabers cautions his clients to carefully look at all their options when considering the Roth IRA conversion. He suggests, “Instead they should continue using their non-Roth Retirement accounts for the maximum tax benefit.”

Nabers, the author of Five Steps To Freedom: How to Cut Your Dependence on Institutions and Escape Financial Slavery, points out that the most important thing that taxpayers can do in these economic times is to find alternative investment solutions. “We’re likely heading into an era of significant inflation. I recommend that people seek alternatives to volatile Wall Street Securities and dollar-denominated assets in general.”

“The action that I recommend is to get more educated on the matter and look at both sides of the story before making a decision,” said Nabers. He says deciding to convert to a Roth IRA could cost you hundreds of thousands of dollars. “Before paying taxes using half of your savings, wealth, or retirement account, consult experts about all of your options. What you don’t know could hurt you—so seek knowledge and information so that you can make an informed decision that you won’t regret.”

Via EPR Network
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Indiana Campaign Finance – The Online Payday Loan Company

Indiana Campaign Finance is one of the leading payday loans providers, extending instant financial assistance to its customers. The processes at Indiana Campaign Finance are very simple which makes it a trouble free process to acquire loans for emergency purposes. By keeping the formalities as little as possible, we provide fast cash to the borrowers in no time.

Indiana Campaign Finance

One of the best things about our companies is that we do not hold back payday loan online from the borrowers with bad credit. Regardless of the credit history, one can get loans from Indiana Campaign Finance. It is this facility which has leaded us this far in the arena of payday loans. Our services include quick cash advance, personal loan,home loans,student loans and credit card. We also provide car insurance and home insurance to our prestigious customers.

No matter which field of life you may belong o or for what purposes you may require loan, Indiana Campaign Finance fulfils all your requirements in the best possible manner. As it is common to all salaried people to be out of money before fulfilling their financial obligations, we come to aid of such individuals and provide them with fast cash. As the term explains, the payday loans are short term loans which are to be paid back within a few days. When you get your next wages you are supposed to return these to Indiana Campaign Finance, however, with Indiana Campaign Finance, you can also extend the time of return by opting for customized deals.

Indiana Campaign Finance lends you money without require too many detail and information. All we need to know is the simple basic information about you like addresses, occupation etc., and you will be able to get payday loans from us. You need to have a job as a precondition and a current account in a bank as well. The borrower has to be 18 or above to get payday loan from Indiana Campaign Finance.

You can apply for a loan online and our representative will get in touch with you quickly. You can also all us to get the details of different packages and other information you require. The loan you get from Indiana Campaign Finance can be spent for any need; there are no limitations to its usage. However, as the rate of interest in generally more for such kind of loans, you should opt for them only when you are in a fix and have no other alternative. In this situation, you will find Indiana Campaign Finance you best buddy who would extend the best financial services to you.

Via EPR Network
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Learn How to Customize Business Insurance Policies

With any insurance policy, the consumer should take the time and care in making a checklist with their insurance agent to make sure all their bases are covered. Only a personally tailored business insurance policy stands the chance of being efficient while also providing the necessary amount of coverage, according to an article recently published on InsuranceAgents.com.

“When venturing out and starting your own business, it’s important to financially protect it with a quality business insurance policy,” states the article titled, ‘Make Your Own Business Insurance Policy Checklist.’ “Having all of the right coverage options and necessary inclusions will protect you from serious financial loss later.”

Here are several necessities that should be included in any business insurance policy. Without these, a business insurance policy is pretty much obsolete. Depending on the nature of the business, some types of coverage should be emphasized while others should be minimal. Talk to a licensed professional about the needs of your specific business.

-Reparation/replacement coverage for any damaged property or assets
-Liability coverage with high enough limits
-Reimbursement of any income loss if the company temporary ceases productivity (this is known as interruption insurance)
-A deductible that fits within the framework of the company’s budget
-Optional: workers compensation and health insurance for employees

Via EPR Network
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