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Standard Life Launches Auto-Enrolment Toolkit

Standard Life has launched a toolkit aimed at helping employers and advisers plan for the introduction of auto-enrolment and identify the potential cost impact.

Ann Flynn, Head of Corporate Marketing, Standard Life said: “From our research and discussions with employers it is clear that many are scratching their heads as to how to tackle the implementation of auto-enrolment. They’re not entirely sure of the steps they need to take to meet their responsibilities, how much work is involved and importantly, how it will impact their bottom line.

“We have therefore developed a dedicated corporate benefits website which hosts a range of tools, news and videos to support employers and advisers through auto-enrolment and beyond.”

The toolkit includes; Pension Reform Pathfinder tool: An in depth planning tool which will help employers and advisers build up a personalised plan of duties and help establish a scheme to fit their requirements, and comply with auto-enrolment regulation.

Pension Reform Cost calculator: The pension reform cost calculator will help employers and advisers understand the potential cost of auto-enrolment by:
– Checking if a current scheme meets the requirements to satisfy the legislation
– Identifying the estimated ongoing costs of meeting legislation requirements
– Showing how the costs can be implemented gradually over time
– Demonstrating how costs could be reduced by providing the option for employees to pay through salary exchange.

Employer checklist: Gives employers an overview of the key tasks they must carry out in order to fulfil their new duties.

Data exchange guides: The guides will help employers navigate their way through their new duties and understand the impact on their current processes and systems.

Member communications timeline: The timeline gives a clear view of the mandatory member communications that pension reform legislation requires. It shows:
– The timeline – what communications need to be issued and when
– The regulations – which communications are mandatory and which are ‘recommended’
– The ownership – which communications must be sent by the employer
– The member categories – what type of information needs to be communicated to each category of employees.

Pension Reform information for employees: A dedicated pension reform website page, aimed at educating employees, has also been created on www.standardlife.co.uk to inform employees about the changes. The site covers everything they need to know, from why pension reform is happening to what to do if they don’t want to join their company pension scheme. There is also a short video which summarises pension reform and auto-enrolment.

Flynn added: “The cost and infrastructure impact will be a major concern for most businesses so these tools will help form the basis of discussions between advisers, HR teams and Finance Directors.

“With so many employers’ staging dates falling in 2013 and 2014, it is crucial that providers support employers and their advisers to help make the transition as painless as possible. Our message to all employers is the sooner you start your planning the better.”

Via EPR Network
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Confused.com Expands Their Telematics Car Insurance Providers

Confused.com has added leading telematics brand, insurethebox, to its ever-increasing car insurance panel. insurethebox joined Confused.com’s collection of leading car insurance providers on Friday 25 May.

Confused.com’s car insurance comparison service makes it easy for customers to compare different policies, and the new relationship with insurethebox affords those shopping for insurance an even greater choice than before.

insurethebox specialises in telematics insurance, which is targeted at drivers who believe they can reduce their premiums by driving safely. This can be of specific benefit to young males, who traditionally have the worst driving record and consequently the highest premiums.

insurethebox is the fourth telematics provider to be added to the Confused.com panel, following Autosaint, Coverbox and AA Drivesafe.

Telematics enables personalised insurance based on the safety of the policyholder’s driving. This is measured using data gathered by a device which is fitted to the car. The device is about the size of a deck of cards, and gathers data such as mileage, when and where the car is driven and harsh acceleration and braking.

insurethebox policies are unique in a number of ways. The insured is limited to a maximum number of ‘policy miles’ which they can drive in a year – currently 6,000. Extra miles can be purchased or built up.

Data gathered is sent to insurethebox, which then rewards safe driving with up to 100 bonus miles every month. The better the driving, the greater the chance of premium reductions on renewal. The data can also be accessed online through a secure personalised portal, so that the driver can see how they have driven and learn where they need to improve.

As an additional safety benefit, the telematics device will inform insurethebox in the event of an accident, and the emergency services may be contacted where appropriate. The device also acts as a tracker, which can deter theft and locate the car in the event of it being stolen.

The Confused.com telematics page contains plenty of information, as does the Confused.com telematics FAQ page.

Gareth Kloet, Head of Car Insurance at Confused.com, said: “For us, Confused.com customers come first. So we’re really happy to be able to offer them a greater choice and variety of policies.

“insurethebox are a market-leading brand with some really progressive ideas. Their telematics expertise is second to none, and we’re really glad to be able to add them to our impressive list of partners.”

Via EPR Network
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Prudential Reveals Women Set To Retire On £5750 Less Than Men

New research from Prudential has revealed that women retiring in 2012 expect their annual retirement income to be a third lower than that of their male counterparts, adding up to a gender gap of £5,750.

Prudential’s Class of 2012 study into the finances and expectations of those planning to retire this year finds that the average woman expects an annual income of £12,250 from their retirement pension, compared with an average expected income of £18,000 for men.

The study shows that the gender gap has fallen from last year’s £6,500, and has narrowed steadily since Prudential first measured a gap of £6,642 in 2009. The fall this year can be mainly attributed to a reduction in men’s expected incomes. However, the gap remains significant.

Prudential’s study found that the average amount that men and women expect to retire on in 2012 fell to a five-year low of £15,500 including private, company and State pension, compared with £16,600 in 2011.

Stan Russell, Prudential’s retirement income expert, said: “The Pension Gender Gap appears to be narrowing, but there is still a long way to go. Not only does the gap remain stubbornly wide, but anticipated retirement incomes have this year hit a five year low for both men and women.

“The practical steps that women can take to improve their retirement income prospects include maintaining pension contributions during career breaks and, if possible, making voluntary National Insurance contributions after returning to work.

“It is imperative for anyone looking to secure a sufficient income when they retire to begin saving as much as they can, as early as they can, and to do so regularly through life. For those who are still working, it has never been a more important time to save into a pension.”

The Prudential study also found that nearly half (49 per cent) of women believe they will not have enough income for a comfortable retirement, compared with 40 per cent of men.

The retirement gender gap is widest in the South East, where women retiring this year expect to have £7,878 less income a year on average than men – £12,259 compared with £20,137.

The gender gap is narrowest in the North West, with women in the region retiring on an average of £13,087 a year, compared with £15,632 for men – a difference of £2,545.

Via EPR Network
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STANLEY-CLIFFORD Dynamic Allocation Fund Risk Considerations

After the release of the Dynamic Allocation Fund Risk Considerations the board of STANLEY-CLIFFORD is releasing the following considerations.

STANLEY-CLIFFORD Funds, the mutual fund family of STANLEY-CLIFFORD, offers individual and institutional investors a wide range of long-term investment choices among over 80 financial instruments, fixed income, money market and hybrid funds. The family’s global line of offerings provides both core and satellite investments across different asset classes, investment styles, investment approaches and geographical regions.

The STANLEY-CLIFORD Fund invests primarily in exchange-traded funds (“ETFs”), futures, swaps and other derivatives that provide exposure to a broad spectrum of asset classes, including but not limited to equity options (both in Asian and non Asian companies), fixed income, investment grade and high yield commodities.

Derivative instruments may involve a high degree of financial risk. These risks include the risk that a small movement in the price of the underlying derivative or benchmark may result in a disproportionately large movement, unfavorable or favorable, in the price of the derivative instrument; risk of default by a counterparty; and liquidity risk. The STANLEY-CLIFFORD Fund’s equity investments are subject to market risk, which means that the value of its investments may go up or down in response to the prospects of individual companies, particular industry sectors and/or general economic conditions.

The STANLEY-CLIFFORD`S Fund’s fixed income investments are subject to the risks associated with derivatives generally, including credit, liquidity and interest rate risk. High yield, lower rated derivatives involve greater price volatility and present greater risks than higher rated fixed income futures. The STANLEY-CLIFFORD Fund is subject to the risk that exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional investment vehicles.

The STANLEY-CLIFFORD Fund may also invest in foreign market derivatives, including emerging markets futures, which may be more volatile and less liquid than investments in traditional Asian markets and are subject to the risks of currency fluctuations and sudden economic or political developments. The Fund is non-diversified and may invest more of its assets in fewer issuers than diversified funds. Accordingly, the STANLEY-CLIFFORD Fund may be more susceptible to adverse developments affecting any single issuer held in its portfolio and to greater losses resulting from these developments.

Via EPR Network
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Confused.com To Offer Free Breakdown Cover With Any Van Insurance Policy

Confused.com is launching a new promotion giving away free breakdown cover with any van insurance policy purchased through the site.

The free breakdown cover includes up to two call outs for home assistance, within one mile of a customer’s home address; up to four call outs for road side assistance; payment for alternative travel up to £100 to the customer’s chosen destination; alternative accommodation up to £60 per person for one night and recovery for 23 foot caravans/ trailers.

Breaking down without cover could cost hundreds of pounds to be rescued. As purse strings are tightened and finances reviewed, drivers no longer need to think of breakdown cover as a costly extra due to Confused.com’s new promotion.

The promotion began on 6 June and will run until 31 July, so anyone buying a van insurance policy during this period will get free breakdown cover. Whether people are using their van for business or personal use, Confused.com searches the market’s top insurance providers to help them to find a competitive quote.

Confused.com’s van insurance covers small vans, medium vans, commercial vans, pickup vans and the commonly known transit van, offering a wide range of insurance cover for the customers various van needs.

The expert price-comparison site offers comparison on van insurance policies, allowing van drivers to get prices from 20 of the most competitive and market-leading brands, such as Aviva, Highway, Ageas, RSA.

A further benefit for buying van insurance from Confused.com is that any customer who buys any van insurance product through the website will receive 1,000 Nectar points, giving a little helping hand in these difficult times. All Nectar points will be awarded within the first 90 days of purchase and the points will go straight onto the customer’s card – so they can boost their Nectar balance by simply buying insurance.

Alex Higgs, Product Manager at Confused.com said: “As people’s purse strings are still tight, we want to help our customers save money, but also make their travel journeys as safe as possible. So by simply buying essential van insurance customers can help prevent themselves being left stranded on the side of the road by getting this free breakdown cover that we are offering in our new promotion.

“With our choice of cover options and our excellent value for money prices, we have a policy to meet the needs of every van driver. Confused.com is here to help customers get the right cover they need at the right price.

“Make sure you’re shopping around using a price comparison site like Confused.com as it allows you to not only check the price but also review the benefits you can get which you may not necessarily think about until you are in an emergency situation.”

Via EPR Network
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Confused.com Unveils Its Improved Motorbike Insurance Offering

Confused.com has teamed up with Vast Visibility to broaden its online bike insurance service.

Confused.com now goes to 35 insurers to compare motorbike policies for its customers. These include MCE, Bikesure, Carole Nash, and most of the other leading providers in the UK.

The motorbike insurance quotes service has been re-launched as a much slicker experience, helping to make it easier for bikers to find the right policy at the right price.

Confused.com compares policies for a range of motorbikes, including mopeds, scooters, classic motorbikes, sports bikes and quads and with every motorbike policy bought, customers can still claim 1,000 Nectar points.

Alex Higgs, Head of motorbike insurance at Confused.com, said: “We are delighted to be in partnership with Vast Visibility, working together to provide an even better service for motorbike insurance customers.

“We can now offer an even wider range of policies and a wider range of prices. With the list of questions nearly 20 per cent shorter, getting a quote through Confused.com is now easier and more intuitive than before. And, as ever, we will continue to make improvements.

“Having helped bikers compare insurance deals since 2008, we have a loyal base of valued customers, and hope to help an ever-increasing number of bikers save money in the future.”

The service shows prices for all three levels of cover – fully comprehensive, third party fire and theft, and third party only. This gives the customer even more information with which to make an informed decision. In addition, policy features can be compared side-by-side to aid with the decision of which policy to buy. At a glance, it’s possible to tell which policies feature helmet cover, breakdown assistance, legal cover and so on.

Once a bike insurance customer has compared policies with Confused.com, then comparing prices the following year becomes easier too. Confused.com sends the customer their best prices at renewal time, so they can see at a glance if it’s worth allowing their policy to renew automatically, or if they’d be better off comparing policies again.

Also, for the first time, motorbike insurance customers are able to complete their quotes over the phone. This is useful in case they get stuck, and means that it is now even easier to get quotes. Another way bikers could keep their motorbike insurance premiums down is to read Confused.com’s motorbike insurance articles, which are full of top tips and useful pointers.

Via EPR Network
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Confused.com Gives Away 5,000 Nectar Points with Every Life Insurance Policy

Confused.com has announced it is continuing its Nectar promotion with a new exciting twist; for every life insurance policy bought through Confused.com, 5,000 Nectar points will be given away to the policyholder.

Previously, Confused.com were giving away 3,000 Nectar points with every life insurance policy bought through the comparison website, but this has been extended to 5,000 points.

As of 1 June, 2012, any customers who buy a life insurance policy through Confused.com will receive 5,000 Nectar points.

Life insurance offers protection and support to family and loved ones if the worst should happen. By purchasing life insurance through Confused.com, customers are not only planning for the future, but will also get a little helping hand in these difficult financial times.

As well as giving away 5,000 Nectar points for buying a life insurance product, Confused.com will continue to give customers 1,000 Nectar points for every car, home, pet, bike and van insurance product they buy through the website.

All Nectar points will be awarded within the first 90 days of purchase. The Nectar points will go straight onto the customer’s card.

The Confused.com promotion not only gives customers competitive rates on all their insurance needs, but gives customers something back for their purchase.

Mike Hoban, Marketing Director at Confused.com, said: “After extending the Nectar giveaway which offered our customers the chance to get thousands of Nectar points by purchasing motor, home, life, bike and van insurance products we decided to increase the giveaway when customers purchase a life insurance product.

“Now customers can get 5,000 Nectar points as an added reward when they buy life insurance with Confused.com, which we hope will be a welcomed boost in these turbulent economic times.”

The 5,000 point Nectar promotion will also be supported by a TV advertisement, running from the 6 June, 2012. The new advert can be viewed at www.confused.com/cara

Via EPR Network
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Confused.com Reveals How Vain Brits Turn To Credit To Keep Up Appearances

Confused.com has revealed that forty per cent of Brits use their credit card to make themselves look good by buying beauty and grooming products.

When it comes to looking good, more than one in ten (11%) Brits regard fake tan as an essential expense.

Surprisingly, many men see image-enhancing purchases as something they can’t live without. For instance, 14% of men say waxing is an essential part of their grooming regime.

Across the regions, 10% of men surveyed from London say Botox treatment is a vital part of looking good. Meanwhile, 22% of men in the West Midlands believe a fake tan is a crucial part of sprucing themselves up – the highest of any region. In Wales, 23% of men surveyed say eyebrow shaping is an essential part of their grooming regime.

From the findings it appears image is everything for adults. 60% have bought clothing using their credit card, the most popular credit card purchase, while 28% have bought jewellery.

When it comes to who influences their appearance, almost a fifth (18%) of adults say celebrities affect the way they choose their look.

However, it is not just superstars that have a sway over people’s image. More than one in ten (12%) people say reality TV personalities from programmes such as ‘Made in Chelsea’ or ‘The Only Way is Essex’ influence their appearance.

Overall, Kate Middleton is the most popular celebrity icon for women, with 21% of females saying they would like to look like her. Cheryl Cole came in second place (18%), while Kate’s sister Pippa Middleton received 5% of the vote.

As well as using a credit card to obtain the perfect look, 28% of Brits polled spend on credit cards to treat themselves. Shockingly, more than one in ten (11%) believe spending on a credit card is easy money.

Nerys Lewis, head of credit cards at Confused.com, said: “Our survey suggests many Brits are using their credit cards to power an aspirational lifestyle fuelled by celebrity culture.

“A third (35%) of adults say they are spending more than they can afford this year, and it seems many are turning to credit when they haven’t got the cash or just fancy indulging themselves.

“All this spending has got to come at a price, however. We would urge people to think carefully about what’s essential versus what’s desirable when it comes to using their cards for buying things such as fake tan.

“People should ensure they have a solid plan in place for paying back any debt, and if anyone is struggling, they can speak to a specialist debt advice organisation such as Citizens Advice.”

Via EPR Network
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Confused.com Becomes First Ever Brand To Use YouTube Slam And Gives Away £500

Confused.com has become the first ever brand to use YouTube Slam in its latest social media competition. The YouTube Slam competition is the final showdown of Confused.com’s latest social media campaign, the ‘5 second challenge’, where the British public were asked to showcase what they could do in 5 seconds to be in with the chance of winning £500.

YouTube Slam is one the most recent innovations from Google which allows users to create a video duel which the public can vote on.

Confused.com’s YouTube Slam will take place from midday on Wednesday 6 June till Friday 15 June 12pm. During this time, the public will get the chance to vote for the ultimate winner of Confused.com’s 5 second challenge. The entrant with the most votes in the Slam will receive £500 in prize money for themselves or a charity of their choice. Entries received include a woman removing her bra and a unique piece of art created in just 5 seconds and can be viewed at http://bit.ly/5secondchallenge when the Slam begins on midday Wednesday 6 June 2012.

This latest social media campaign forms part of Confused.com’s ongoing marketing strategy for QuickQuote. The campaign demonstrates the concept of time and what can be achieved in 5 seconds, a creative twist on the fact that the new groundbreaking Confused.com QuickQuote text message service allows customers to get a car insurance quote in seconds.

The progress of the ‘5 second challenge’ can be followed on the leader board on the Confused.com YouTube Slam page and the public can help decide who wins the competition by voting for their favourites. The winner of the slam will take £500 prize money.

Sharon Flaherty, head of content at Confused.com, commented: “It is now almost second nature for people to comment, like, share and vote in social media platforms. The popularity of programmes such as Britain’s Got Talent and The Voice also clearly shows that the public want to be able to affect the outcome of competitions, highlighting that interactivity is key to ensuring successful conversations with customers.

“As such, we have incorporated this into our social media strategy and are encouraging people to vote for their favourite video in our 5 second challenge on YouTube Slam. To see the video of their choice be crowned the winner of our YouTube Slam, viewers simply need to vote for their favourites and make someone a winner.”

Via EPR Network
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Standard Life Reveals Most Parents Feel Financially Supporting Their Grown Up Children Is ‘Their Duty’

According to Standard Life research, over half of parents feel it is “their duty as a parent” to financially support their grown up children.

A third of parents worry that without financial help their children would suffer and not achieve their full potential. 37% of parents recognise the impact that the current economy is having on their children’s financial status while a third of parents expect to have to financially support not just their children but also any grandchildren.

Parents are expected to help pay for a variety of amenities; 38% expect to help foot the wedding bill, the most significant cost, with university fees second. More than one in three parents pay university fees or expect to do so, whilst a third of parents are paying towards university accommodation. 34% pay towards their child’s car or expect to do so and a quarter will be likely to pay towards a deposit for a first home. Even a quarter are expected to help with mortgage and credit card debts.

Julie Russell, Head of Customer Relationships at Standard Life, commented: “The economic downturn and price increases have left many parents expecting to have to financially support their children into adulthood. The only way to achieve this is through careful financial planning, so that the financial sacrifices parents make for their grown up children are not to the significant detriment of their own long term plans. Parents need to make sure their money works as hard for them as they are working for their children. That means being efficient with their savings and making the most of tax breaks offered by products like ISAs and pensions.”

Pensions are a tax efficient way for parents to save, with every £4 a person contributes, the government effectively contributes £1 as it rebates the income tax on contributions*. For those who are in a workplace scheme, their employer is likely to be topping up the contributions too.

ISAs help to build up a tax free cash lump sum which can be used to pay for a child’s wedding or to fund university fees. Parents can invest up to half of the annual ISA allowance and earmark that to help themselves and their children with more immediate costs. They can also consider investing the remainder of their allowance in a stocks and shares ISA which has the potential of greater tax efficient growth over the longer term to help with larger future costs.

Via EPR Network
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Ezra Penland Actuarial Recruitment Employs Two; Announces Scholarship Recipient; Sally Ezra Quoted

The Leader in Actuarial Recruitment, Ezra Penland, is proud to announce the hiring of two new employees at the rapidly-growing, Chicago-based firm. Thomas Clohisy joins Ezra Penland as an Actuarial Recruiter. Tom has executive recruiting experience, as well as recruitment business development skills. He was also a successful commodities trader for a number of years, after having earned an MBA from Loyola University and a Bachelor’s degree from Purdue University. Tom can be reached at tom@EzraPenland.com.

John Gieger joins Ezra Penland as Corporate Librarian and Data Specialist. John earned a Masters of Library and Information Science from Dominican University, as well as a Bachelor’s in Audio Engineering from Belmont University. He has varied experiences as a data manager and a librarian, and brings with him exceptional computer skills and an innate ability for information organization. John may be reached at john@EzraPenland.com.

Additionally, Ezra Penland proudly awards their most recent $500 Actuarial Scholarship to Jordan Nadler. Ms. Nadler is a junior at Missouri State University where she is a Mathematics major with a concentration in Actuarial Science, and she is minoring in Finance and Risk Management & Insurance. In addition to tutoring mathematics, she is a member of the Delta Sigma Pi Professional Business Fraternity and treasurer of the Alpha Lambda Chapter of Gamma Iota Sigma, the Risk Management,Insurance and Actuarial Science Fraternity. Nadler has held an internship at American National and will hold an internship at Ernst & Young this summer in New York. She has passed two Actuarial Exams and is pursuing a career as an Actuary.

And, finally, Sally Ezra, Partner at Ezra Penland Actuarial Recruitment, was interviewed in the May-June, 2012 Contingencies, the magazine of the American Academy of Actuaries. The topic was the “Workers Compensation Predictive Modeling Comes of Age”, and Ms. Ezra discussed the hireability and availability of actuaries with such skills.

Via EPR Network
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Confused.com Reveals Cost Of Back Seat Driver Distractions

Confused.com has revealed the true cost of giving friends and families a ride home. Two thirds (66%) of British motorists have been victims of unwanted attention from self-appointed back seat drivers, and almost 1 in 4 (24%) have been in an accident whilst dealing with the distractions of other passengers. These distractions mean that 20% of British motorists will have to fork out up to £500 to repair accidental damages ’caused’ by back seat drivers in their driving life.

The research from the car insurance experts also reveals that the worst backseat pests are bus drivers, train drivers and delivery men who obviously forget that they’re off duty. On the other hand, teachers are the most patient of passengers and put up with the driver’s bad habits.

When it comes to family life, most respondents confess that they would rather journey with colleagues than loved ones. This is because partners are the worst backseat drivers, with husbands and boyfriends disrupting the driver most often and 45% of them voicing their traffic-tips several times during the shortest of journeys.

Particularly bad at knowing when to keep quiet are parents who feature second on the list of frequent offenders (28%) when it comes to interfering from the back seat.

The most popular backseat gestures include the terrified grip-tightening on the door handle; the not-so-subtle glance at the speedometer or, the favourite of partners and parents across the country, the imaginary brake pedal push.

When it comes to the world of motoring, Confused.com revealed that unfortunately, stereotypes are surviving, with women and the elderly being the most likely to suffer from backseat bad manners. Over two thirds of women (68%), and a shocking 70% of drivers over the age of 55 find themselves on the receiving end of this bad etiquette. Especially patronising are comments about the speed of the car (24%) or their proximity to other cars (25%).

Gareth Kloet, Head of Car Insurance at Confused.com, said: “As motoring costs continue to rise at a meteoric rate, it’s never been more important for drivers to keep their costs as low as possible. Our research shows that having other people in the car can distract us from the road, and lead to accidents which in turn increase the cost of our car insurance policies.”

Jo Bryant, spokesperson for etiquette experts Debretts added: “If you’re a passenger in someone else’s car, your behaviour must be polite at all times, just as it would be if you were visiting their home. The Etiquette Guide for Back Seat drivers will ensure that every journey is courteous and civilised.”

Via EPR Network
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Prudential Reveals Pensioners Fail To Count The Cost Of Ill-Health In Retirement

Prudential has revealed new research which shows that despite the ongoing debate about the need to fund long-term care for the elderly, only one in five people planning to retire this year have made financial provision for ill-health in retirement.

Prudential’s ‘Class of 2012’ study into the finances and expectations of those planning to retire this year shows that just 20 per cent have set money aside for any care needs. This drops to 16 per cent among those aged 65 plus.

Prudential’s research also found that less than half (45 per cent) of this year’s retirees have planned for the fact that they may need more income in retirement as they get older.

However, funding long-term care has never been more important. Although average life expectancy for men over the age of 65 is 17.6 years, and 20.2 years for women, healthy life expectancy is just 9.9 years for men and 11.5 years for women.

Vince Smith-Hughes, retirement expert at Prudential, said: “People retiring this year realise that living longer may mean they will need a higher income as they get older, but few of them have made the connection between the risk of ill-health, and needing money to pay for healthcare.

“Although life expectancy is increasing, healthy life expectancy is flat-lining. With the average person now working until they are aged 63.4, people are enjoying fewer healthy years in retirement.

“Spending the first few years of retirement trekking in the Andes and running around after grandchildren may be a reality for some, but it is important not to forget that health will worsen as pensioners get older.

“Making financial provision for the possibility of ill-health in retirement should be an integral part of the retirement planning process.”

Across the country, those planning to retire this year in Wales are the most likely to have prepared for the risk of ill-health in retirement (32 per cent), while those in the East of England (7 per cent) are the least prepared.

The Government is currently considering recommendations from the Dilnot Commission on the Funding of Care and Support which, in July 2011, proposed that an individual’s contribution to social care should be capped at £35,000, with any additional costs funded by the State.

Via EPR Network
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Confused.com Reveals Homeowners’ Most Expensive Possessions Are Not The Most Valuable To Them

Confused.com has revealed that homeowners’ most financially valuable possessions are not the ones which are the most precious to them. Computers and jewellery top the list of the most expensive items owned, but 74% of homeowners tell us that sentimental items such as photos, letters and drawings their child has done are more precious than their most costly items.

In a survey of 2,000 homeowners, Confused.com discovered that nearly three quarters said that the most financially valuable item they own is not the most precious item they possess, with photos being considered the most precious or sentimental items owned by UK homeowners.

Men differ from women with more men (29%) than women (23%) saying that the most financially valuable items they own are also the most precious to them, while women (47% compared to 34% of men) feel that photos are the most precious/sentimental items they own. The second most popular sentimental item for women is jewellery while the second most popular items for men are letters.

Older people (over 55s) are more likely to say that items inherited from a relative are among their most precious items but photos and letters are consistently precious across all age groups.

When it comes to insuring possessions, Londoners are most likely to take the gamble and fail to take out a home contents insurance policy: only 64% of Londoners who own their home tell us they actually have home insurance, compared to a national average of 80%. When it comes to 18-24 year-old homeowners, 16% of these do not even know if they have home contents insurance or not. 30% of 18-24 year-old homeowners say they don’t have a policy.

Despite such a large proportion of homeowners telling us that they do not bother with home insurance, 20% admit that they have been burgled in the past. Jewellery is the top item stolen by burglars, followed by items of sentimental value.

Gareth Kloet, Head of Car Insurance at Confused.com said: “Home insurance and a good awareness of home security can help to keep property safe. Sadly burglary is a fact of life that one in five of homeowners who we surveyed had already experienced. While insurance cannot replace items such as photos, it is possible to name precious items (that have a value of more than £1,000) on your home insurance policy. This helps ensure that possessions such as jewellery or antiques or expensive technology can be replaced or compensated for in the event of a burglary.”

For more possessions research, Confused.com’s unique infographic can be found here:www.confused.com/news-views/infographics/what-items-people-value-more-at-home-sentimental-or-expensive.

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Confused.com Reveals Young Drivers Spending More Than 18% Of Their Annual Salary On Car Insurance

Confused.com has revealed young drivers are paying an average of £2,499 for their annual comprehensive car insurance. Meanwhile the older generation are statistically the cheapest to insure, with average premiums costing an average of just £440 per year for 66-70 year olds, the equivalent of around £1.20 per day.

With ONS figures revealing that the average income for 18-21 year olds in the UK comes to £13,972, when a young driver pays for their own car insurance this could swallow up more than 18% of their salary. For men of this age group it’s likely to be an even greater chunk of their salary as they try to afford premiums costing an average of £3,635 (compared to £1,869 for young women 17-20).

Older drivers are currently enjoying the lowest premiums, with drivers aged 71+ paying an average of just £436 per year. A combination of driving experience, likelihood to travel shorter distances and owning lower-powered cars can make older and retired drivers statistically a lower risk, despite the possibility that their reactions could be slower due to age.

Average costs dip significantly for drivers aged 36-40 with the average price coming in at £597, but rise dramatically again for 46-50 year-old drivers who pay an average of £733.

Gareth Kloet, Head of Car Insurance at Confused.com said: “Each age group is costed by their statistical risk and this includes the value of the car itself, the experience levels of the driver, past history and where they live among other factors. Younger drivers are hit significantly harder than more experienced motorists but Confused.com is working hard to find ways to help young drivers bring down the costs, such as working with telematics providers who offer a discount for drivers who can prove that they are safe on the road.”

There are however tips for younger drivers who are looking to reduce their car insurance costs which includes choosing a smaller and lower powered car, installing a telematics device and considering excess protection but as with any product or service, it pays to shop around for the best price by using a comparison site such as Confused.com:

Customers can access Confused.com’s car insurance price calculator, which gives data on regional prices, at www.confused.com/car-insurance/price-index.

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Vebnet Reports J.P. Morgan In Its Element With Take Up Of Re-Branded Employees Benefits Scheme

J.P. Morgan, advised by Vebnet, has just announced impressive results from the recent re-brand and re-launch of their employee benefits scheme. Enrolment first opened in February 2012 and within the first three weeks over two-thirds (66%) of staff had made active benefit choices, an increase of 26% on the previous year.

J.P. Morgan employs around 13,500 staff in the UK and before the re-launch had significant challenges communicating the benefits package they were providing their UK employees.

Adam Brooke, Vice-President of Employee Benefits, J.P. Morgan said: “Information about many of the benefits on offer to employees, including core benefits, was scattered across a confusing array of different company websites. This meant that employees were often not even aware of what benefits they had.

“Employees were not proactively engaged with their benefits so they, and the company, were missing out on valuable benefits and tax savings. We needed to go back to basics and develop an innovative approach to communicating and explaining our benefits.”

J.P. Morgan started working with Vebnet in September 2011 to develop a new brand, look and feel for the company’s reward package. The two teams developed a new website that pulled all the information in to once place and re-named the scheme ‘Elements’.

Pat Appleby, Senior Communications Consultant, Vebnet commented: “With the new brand, we wanted to convey the fact that the reward package as a whole is greater than the sum of its individual parts so in ‘Elements’ we have the ideal name.”

Elements opened for enrolment in February this year and while 66% have made active choices 77% of staff have logged on to the website.

Adam Brooke added: “The fact that over three quarters of employees have logged onto the site at least once, if not necessarily to make active changes, instantly gives staff a better awareness of the total value of all their benefits – from core benefits and pensions to flex.

“And this isn’t a one-off project; we’re using the website to publicise wellness seminars and improve information about pensions: initiatives that will bring traffic to the site throughout the year, beyond enrolment.

“Next year we’ll be looking to add a big new benefit or two to the scheme, but so far I’m very proud of what it’s achieved.”

Via EPR Network
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Confused.com Launches New Social Media Campaign

Confused.com is challenging the British public to show everyone what they can do in 5 seconds, coinciding with the launch of Confused.com QuickQuote.

This latest social media campaign forms part of Confused.com’s ongoing marketing strategy for QuickQuote, a new text message service which can return a motor car insurance quote in seconds. The campaign reinforces the importance of having a car insurance policy and how this can be achieved in seconds by using QuickQuote.

For the ‘5 Second Challenge’ Confused.com is asking people to upload videos of themselves to YouTube and show us what talent they can perform in just 5 seconds, with the winner receiving a prize of £500. The social media campaign demonstrates the concept of time and what can be achieved in 5 seconds, a creative twist on the fact that the new ground breaking Confused.com QuickQuote service allows customers
to get a car insurance quote in seconds.

The social media competition started at 9am, Wednesday 16 May and finishes 9am, Wednesday 23 May and will be supported through the use of YouTube, Facebook, Twitter and Pinterest. To enter the competition, the British public simply have to upload their 5 second talent videos to YouTube by 9am, Wednesday 23 May 2012 and either email the URL to 5secondchallenge@confused.com or tweet @Confused.com with their URL and the hashtag #5secondchallenge to be entered. Some examples of talent at Confused.com can be found at http://bit.ly/confusedtalent

The videos will then be entered into Confused.com’s YouTube slam, which will be found at http://bit.ly/5secondchallenge from 12pm Wednesday 23 May.

The Confused.com YouTube slam will begin at 12pm, Wednesday 23 May and will finish 12pm, Monday 28 May 2012.

Sharon Flaherty, head of content at Confused.com, commented: “We are encouraging people to vote for their favourite video in our 5 second challenge on YouTube slam. To see the video of their choice rise up through the leader board, viewers simply need to vote for their favourites. We are hoping to find out what else the British public can do. By simply entering, someone could win £500 just by performing for 5 seconds. Who knows, fame could come early for someone.”

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Prudential Reveals Two In Five 2012 Retirees Want To Stay In Work

Prudential has revealed that two in five (40 per cent) people planning to retire this year would be happy to work past 65 if they had the chance.

Prudential’s Class of 2012 study, which looks at the finances and expectations of those planning to retire this year, shows that 48 per cent of men and 32 per cent of women would be happy to continue working past the standard retirement age.

The main motivation for more than two thirds (68 per cent) of this year’s retirees who want to stay in the workforce past 65, is a desire to remain physically healthy and mentally active, while 39 per cent do not like the idea of retiring and just staying at home. More than half (54 per cent) claim that they enjoy working.

However, despite wanting to stay in work, only 13 per would choose to continue to work full-time with their current employer. Nearly half (49 per cent) of those retirees who want to work past 65 years old would prefer to work part-time, either with their current employer or in a new role, in order to strike a better work life balance.

More than one in 10 (11 per cent) of entrepreneurial retirees would consider starting their own business after the age of 65 or earn money from a hobby in order to keep working. Five per cent would work as charity volunteers.

Recent ONS figures show that average retirement ages are rising, with men now retiring at an average age of 64.6, compared with 63.8 in 2004, and women working until 62.3 years compared with 61.2 previously.

Vince Smith-Hughes, retirement expert at Prudential, said: “There is a new retirement reality taking shape across the UK, with thousands of people actively choosing to work past the traditional retirement age.

“The fact that so many of this year’s retirees would keep working on a part-time basis is a strong indication that, for many, working is as much about staying young at heart as it is about funding retirement.

“Gradual retirement is an increasing trend among pensioners, whether this means remaining in the same job on a flexible basis or even setting up their own business. Those retiring at 65 will face an average of nineteen years in retirement which makes the financial and social benefits of working for longer an even bigger draw for a new generation of industrious retirees.”

Around the country, those planning to retire this year from the East of England were the most keen to stay part of the workforce with 54 per cent saying that they would choose to work past 65 if they had the option. Half (49 per cent) of Londoners and 45 per cent of people in the South East would also like to continue to work.

However, just 29 per cent of Scots planning on retiring this year would be happy to work past 65 if given the choice, along with 30 per cent of retirees in Wales and in Yorkshire and Humberside, and only 21 per cent of those in the North East.

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Confused.com Revolutionises Car Insurance By Launching Quickquote Mobile Service

Confused.com the leading price comparison site is revolutionising the car-insurance price-comparison quote process by launching a new mobile phone service called QuickQuote.

This simple mobile quote service is available for UK based customers and cannot be found on any other price comparison site. Customers of Confused.com can get a motor car insurance quote and save money just by simply having a mobile phone.

Confused.com have worked with Process Flows a well-established SMS vendor to create the first mobile phone service that changes the way a car insurance quote can be returned. It’s the quickest way of getting a cheap quote when the renewal is due, or if people are just interested to see how much it would cost them to get insured on their dream car.

QuickQuote is an innovative way of allowing customers to get quick and easy car insurance quotes through their mobile phone. To use this simple service, the customer must have used Confused.com before. They simply text the number plate to 66800 and Confused.com will text back with the cheapest quote in seconds. Customers can get a quote for any car just by simply texting 66800 and it only costs £1 per text.

Once the quote is received via their mobile phone, the customer can also access it via their Confused.com account and will be shown the range of car insurance quotes which are available through Confused.com. Currently 130 insurers are available on their panel, offering the biggest car insurance comparison service in the UK.

The advantage of QuickQuote is that the customer’s details can be reused on subsequent occasions, saving customers the time and effort required to re-enter this information every single time they are looking to retrieve a quote on a vehicle.

Jeanette Fennell, Product Manager at business solution provider, ProcessFlows, developer behind the SMS technology driving the QuickQuote service said: “ProcessFlows was recommended to Confused.com. Our SMS technology is designed to meet the needs of large organisations who want to leverage the popularity of text to market and engage with an extensive audience in real-time. Confused.com continues to lead with innovative ideas that make shopping for car insurance quicker. I am sure this latest campaign will be very popular with consumers. Our technical director is already reviewing his car insurance after texting to QuickQuote.”

Mike Hoban, Marketing Director at Confused.com continues: “Confused.com revolutionised the search for car insurance 10 years ago through the launch of Confused.com. To follow on this success QuickQuote has been created to provide a quick and easy car insurance process which we have developed with Process Flows to help customers find cheaper car insurance and save them money. Conducting a car insurance quote can be a laborious task for motorists when it comes to buying or renewing their insurance. However with QuickQuote this will all change.

“With QuickQuote drivers can shop around and get the best quotes and hopefully save a hefty packet on the cost of car insurance in the process. For new car hunters it allows them to find out the kind of car insurance premiums that they could expect on a particular type of vehicle at any place or time; even on the vehicle forecourt, helping to make the big decision a little bit easier.”

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ComplexSearch.com Releases The 2012 Guide to Good Credit Score Ranges

ComplexSearch.com officially releases the “Good Credit Score Guide,” a number of credit score articles and a series of five credit score infographics designed to educate the general public.

Credit score number is crucial to your financial health, especially with just how much the average American relies on debt. With a poor credit score, consumers are more likely not to be approved for a loan or, if they do get approved, they are likely to pay more in interest charges.

“We’ve created our guide to help consumers manage their consumer credit,” says Nathan Richardson the founder of ComplexSearch. “That is why we put a whole host of files dedicated to helping consumers improve their credit score with simple – and free – how-to guide.”

Credit scores are becoming more ubiquitous in our daily lives with TV, online and various advertising mediums filled with companies offering free credit scores. “More and more companies are offering seemingly free access to your credit score, but what we’ve found is many of these companies are charging for services that essentially can be accessed for free,” Nathan continues. The credit guide also includes pitfalls and other various credit score scams to watch out for.”

The new guide to credit scores was previously released in 2011, and was updated for 2012 by talking with several credit experts. This new guide represents the latest information on the average credit score ranges.

About ComplexSearch
ComplexSearch is a personal finance blog dedicated to discovering the latest bank rates on savings accounts, certificate of deposits, money markets, credit cards and other deposit accounts. ComplexSearch also focuses on detailed reviews on the top banks in the United States and Canada, by aggregating reviews from several top resources online — this quick resource allows people to find the up-to-date bank reviews in 2012. ComplexSearch is also a provider of personal finance opinion and advice, offering new articles weekly.

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