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Confused.com Releases New Facebook App Designed To Celebrate Friendships

Coinciding with the release of a report titled ‘Friendship, Finance and the Future: The rise of Singledom in the UK’, Confused.com has created an app that allows users to celebrate the important friends in their life.

A report by Future Poll for Confused.com has shown that four in five say that friendships last longer than romantic relationships. With friends playing such an important role in our lives the app gives users the opportunity to celebrate the anniversary of their meetings, or ‘Frenniversary’ and show how important their friends are.

The app, called ‘Friend Booth’, has three different functions; a tattoo booth, a cover photo montage creator and a Frenniversary reminder service.

The tattoo booth allows Facebook users to create an image with a virtual tattoo dedicated to their closest friend. The user selects their friend and either takes a photo or chooses an existing one, they then select the style of tattoo they want their friend’s name to appear in. They can resize the tattoo and adjust the angle to make it look as convincing as possible before posting it to their wall.

The photo montage creator allows users to create a montage that’s sized, ready for them to have as their cover photo. The Facebook application asks users to enter the name of their best friend. Photos in which both the user and their best friend are tagged will be displayed, allowing the user to select their favourite pictures which will be automatically added into a bespoke image that the user can set as their profile cover image.

The report claims that in the future relationships status on passports and census forms could include mate-trimony as an option, with next of kin automatically being a friend. With friends playing such a significant role in our lives celebrating Frenniversaries will become more common. The Facebook application helps us remember this date by providing a Frenniversary reminder service. When they sign up their email address and friend’s name they’ll be sent an email reminder to make sure they don’t forget to celebrate the day.

Sharon Flaherty, head of content at Confused.com said: “This application is all about having fun with your friends and showing you appreciate them, but the report raises issues around how insurance companies need to protect long-term friendships as they do marriage. More and more people are relying on their friends, buying houses with them and becoming financially co-dependent. If something were to happen they would be left completely unprotected.

“This report by Future Poll shows that in the future more single people will protect their most important relationships with life insurance, in the short term the app allows users to show the people that matter they care.”

Via EPR Network
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Confused.com Reveals That Car Insurance Prices Have Dropped

Confused.com has revealed that after several years of soaring increases, the brakes have been applied to car insurance prices. The average cost of comprehensive car insurance for Q2 2012 stands at £797, a price drop of 7.1% year on year, compared with £858 which was the average cost for Q2 2011. However, despite the drops and impending gender directive implementation, men are still paying on average £110 more than women on their car insurance.

Despite prices plummeting, 17-20 year old drivers in the UK are still being quoted average comprehensive car insurance premiums of £2,491. Postcodes are a significant factor in car insurance pricing with 17-20 year-old male drivers in Manchester/Merseyside finding they are quoted significantly more than their counterparts in Central Scotland. The average price for 17-20 year old male drivers in Manchester/Merseyside is £5,394, while in the Central Scotland region male drivers aged 17-20 are quoted a more modest £2,999. Young male drivers aged 20 or younger in Inner London can expect to pay an average of £5,330 per year.

Regionally, the West of England has seen the biggest fall in prices, as average premiums for comprehensive cover dropped by 10.5% year-on-year. 21-year-olds saw the largest year-on-year reduction in prices, experiencing a 10.5% drop. This compares with a 1.9% increase in Q2 of 2011 and a drop of 4.6% quarter-on-quarter.

Over the past 12 months, car insurance price cuts have been greater for 17-20 year old women than men of the same age. With the looming EU gender directive which takes effect this December, shifts in gender pricing are beginning to show through. For example, for women aged 17-20, comprehensive car insurance prices increased by 0.5% over the second quarter this year, but for men of the same age group car insurance prices have fallen by 1.1%.

Despite this welcome respite for male drivers, men are still paying an average of£110 more per year than their female counterparts. For younger drivers, women aged 17-20 are quoted £1,878 on average, while men of the same age suffer average insurance quotes of £3,596. While this could be in part connected to the types of cars the drivers choose to drive, it is also in part due to gender, which will no longer be an influential factor by 2013.

Gareth Kloet, Head of Car Insurance at Confused.com said: “Competition between car insurance providers is currently very high, which means it’s a great time to get a deal on your car insurance. At Confused.com we have more than 130 insurers competing for customers and so drivers can benefit from this competitive market by shopping around. When it comes to men versus women, any gender differences have to be factored out of quotations after December this year and so other factors such as the type of car you drive and the distances you expect to cover will become more important in the quote process. We anticipate that drivers will continue to reduce their annual mileage as a result of high motoring costs and seek cheaper vehicles in their search for more affordable cover.”

More than 4 million quotes are used in the construction of each quarter’s insurance price index – this makes it the most comprehensive insurance index in the UK. Unless otherwise stated all prices referred to are for comprehensive cover.

Via EPR Network
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Confused.com Reveals Unluckiest Streets And Door Numbers

It’s not easy being ‘Green’ according to new statistics from comparison site Confused.com: 27.6% of customers living on a road named Green Way have claimed on their home insurance in the last five years.

The Confused.com figures also reveal that living at house number 166 can be unlucky too: 21.9% of UK customers living at 166 have also claimed on their home insurance within the last five years.

The highest amount of cash paid out to claimants went to residents of Portland Road, where average claims exceeded £25,000, followed by Castle Street residents whose average claims came to £13,671 per resident.

Unsurprisingly the least claims were made in the more remote areas. The Scottish Borders registered the fewest claims, where the door number 7 was unluckiest. In London it’s people living behind the number 93 who might be worried as they are the ones with the highest volume of claims over the last five years, coming in at just over 19%.

The number 60 is unlucky not only for homeowners living in Central Scotland (almost 25%), but also for those who reside in the East of England where 60 is also the most likely to have had a home insurance claim, with almost 19% of the residents putting in a claim during the last five years.

Gareth Lane, home insurance expert at Confused.com, said: “As a person looking to buy a house in the near future I’ll think twice about moving into 166 Green Way. Joking aside, if these trends continue, on average more than 14 per cent of customers could claim on their home insurance in the next five years, with an average claim amount of around £2,000.

“During these hard economic times and extreme weather it’s important to find the right cover at the right price.”

Via EPR Network
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Confused.com Reveals That Nervy Brits Call For UK Driving Laws To Follow Europe

Confused.com has asked if it’s finally time for the UK’s driving laws to fall in line with Europe, with two thirds (66%) of Brits’ experiencing some form of motoring mishap when travelling abroad.

British holidaymakers have long been labelled the blight of the European holiday season, but new research from car insurance expert Confused.com, has revealed a different side to the ‘bawdy Brits’. Nearly three quarters (73%) of Britons who will drive abroad this summer have a fear of foreign roads because of confusing foreign road signs, driving habits and cross-country law changes.

Far from being a falsified phobia, the fear of driving on the continent exists for good reason. According to the research, one in five (20%) road trips from Britain to Europe end in a crash or bump, and an overwhelming two-thirds (66%) experience some form of motoring mishap.

This is worrying news for the 25% of British motorists who drive abroad each summer without checking they have adequate insurance. The current trend shows that a quarter of British motorists casually assume that their UK policy automatically covers them on foreign soil when in fact their policy may not be as comprehensive as while driving at home.

With so many blissful summer breaks turning into holiday horrors, it’s not surprising that British motorists want to alleviate their euro nightmares. Driving on the right is the number one fear for more than a third (39%) of UK drivers, and one in five of us (19%) confess to having driven on the wrong side of the road abroad.

The debate over left vs. right is intricate and complicated, and while switching the UK from left to right overnight is perhaps a step too far, the British public feel that standardising Europe’s drink-driving laws is a must, and soon.

Nearly half (47%) of Brits who have driven in Europe are strongly in favour of introducing uniform drink-driving limits. 27% believe that standardising European driving laws would reduce their chance of having an accident abroad, an opinion supported by transport expert, Benjamin Heydecker: “England and Wales are the only two countries in the EU (other than Malta) that has a legal drink-driving limit above 50mg per 100ml – 80mg. Harmonising Europe’s standards by reducing the limit to 50mg per 100 ml – which Scotland did recently – would modify drivers’ attitude to drink driving, with undisputed benefits for road safety.”

UK drivers’ lack of preparation was revealed when quizzed on the driving laws of Europe’s top-locations: 50% of Brits admitted they didn’t realise it was illegal to use a hands free kit in Spain, or that in Sweden it’s compulsory to carry antifreeze and a shovel in the car. Similarly one in ten (10%) didn’t know that drivers in Spain and Italy who wear glasses need to carry a spare pair.

Gareth Kloet, Head of Car Insurance at Confused.com, said: “As the holiday season approaches, we’re going to see more Brits heading to the continent. While driving is often the most convenient means of travel, it’s important for motorists to take the time to understand the foreign laws. Accidents can easily happen in an unfamiliar environment, so reading up and making sure you’re completely covered for the country you’re driving in is just as important as getting the right currency.”

Via EPR Network
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Prudential Reports Average Brit To Make A Million By The Age Of 56

New research* from Prudential has revealed that the average UK worker will have earned £1 million by the time they are 56 years, nine months and three weeks old.

However, despite these cumulative earnings, fewer than two in five (37 per cent) of those expecting to retire this year have saved enough to secure a comfortable retirement.

Prudential’s analysis of average incomes shows that becoming a millionaire before tax is well within most men’s grasp, as long as they start work at 18 and then earn the average income for their age bracket through to age 65.

A man on an average income can expect to be an income millionaire when he is 50 years, six months and two weeks old. However, women will find it harder than men to make the magic million, reaching the milestone at 72 years, four months and three weeks – 22 years after their male counterparts.

Of course, this £1 million will be earned before tax which means that the average worker will have also paid £137,101 in income tax and £84,129 in national insurance.

The good news is that if someone contributes to a personal pension throughout their working life, they can benefit from significant tax relief. An individual who pays £100 per month personally into a pension over a 40 year working lifetime could receive additional tax relief of at least £12,000.

Vince Smith-Hughes, retirement expert at Prudential, said: “We might think that making a million is a pipedream, but it will become a reality for those who earn an average salary throughout their working lives, especially if they are men.

“Looking at cumulative earnings in this light helps us to understand how much we could potentially save for our retirement. Of course, ongoing financial pressures and priorities means that it is not always that easy, but it remains the case that the earlier you save and the more you save, the better retirement income you will have.

“Pensions remain highly efficient tax saving vehicles which can help savers to claw-back some of the tax that they have paid over the years.”

The analysis shows that if the average person works until the age of 65, their career earnings before tax will be £1,217,604. If they keep going to 70, then earnings will hit £1,322,009.

Prudential’s figures show that average earnings for UK workers peak at £31,328, in their forties. Average earnings for men hit a high of £40,652, while for women the peak is £21,758.

Via EPR Network
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Confused.com Reveals Why Single People Are ‘Mating’ With Friends For Life

A new Confused.com report, entitled ‘Friendships, Finance and the Future: The rise of Singledom in the UK’, has revealed that almost three quarters* (72%) of singles have friends who will be friends for life, and four in five say that friendships last longer than romantic relationships. Men in particular are saying no to marriage. Just three in ten single men think they will ever get married, and 48% think single people are more fun.

This new report also identifies a new demographic in UK society: FLAPers (Financially Liberated and Positively Single). This is a new breed of single people who are turning the tables on the stereotype of the sad singleton and embracing the adventure and spontaneity. Like the flappers of the 1920s, who threw away their corsets and sought independent lifestyles, these FLAPers are celebrating a new era of positivity and empowerment in the wake of troubled times.

Experts at Future Poll, the research division of The Future Laboratory, predict that the future could see friendships among single people recognised as relationships that work while marriage increasingly fails. Laws will protect best friends and single people might formalise their friendships by entering into ‘mate-trimony’ agreements with their best friends. Relationship status on passports and census forms could include ‘mate-trimony’ as an option, next of kin will automatically be friends, and more and more singles will protect their friendships with life insurance – 59% of singles would consider insuring the life of a friend if they bought a house together.

As people stay single for longer, they are realising how much they rely on their friends for the things traditionally provided by a partner. Friends offer a shoulder to cry on: 45% of singles turn to their friends first for emotional support. Friends know each other inside out too: 30% of singles say the person who knows them best in life is a friend.

Singles even trust their friends, rather than family members, with their online secrets. Twice as many singles would rather have a friend see what they’ve been looking at online than a family member. 18 – 24-year-old singles would much rather that friends see their web-browsing history (62%) than family members (18%), probably because their friends would be less shocked.

The research found that 29% of single people in the UK have lent money to a friend in the last 12 months and in the West Midlands, 35% of singles have lent friends money in the last year. More than one in four single people would go to their friends first if they needed money urgently, and men (31%) are more likely to do so than women (23%).

To many single people, marriage is viewed as an old fashioned idea. 21% of single men think marriage is out-dated while 34% of single women think marriage lacks the value it once had.

Mike Hoban, Chief Marketing Officer at Confused.com said: “The need for us all to prepare for the worst, and protect our loved ones, is paramount. There is an opportunity for life assurance companies to reflect the rich diversity of our society and meet the needs of more people by making available products and services which reflect the value that people put on personal relationship outside of traditional family and marriage ties.”

Via EPR Network
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Confused.com Reveals A New Way Of Living For Young Singles

Confused.com has revealed that the continued property crisis, coupled with a rise in the number of singles in the UK, is resulting in the creation of alternative ‘family’ units and giving birth to the MOSH.

This type of MOSHing does not include head-banging to metal music; it’s all about embracing the ‘Multiple Occupant Shared Home’ and challenging the traditional household structure.

Confused.com has worked with futurologists at Future Poll, the research division of The Future Laboratory, on the new study into the friendship and finances of single people in the UK, which explores the growing trend for best mates to create alternative ‘family’ units.

The Confused.com research found that 57% of singles have a friend they trust enough to buy a house with.

Furthermore, 59% of singles would consider protecting their friendships with life insuranceif they bought a house together.

Single-person households are projected to increase by 163,000 per year – from 6.8m in 2006 to 10.9m in 2031 – and singleton households could outnumber any other kind of household by 2031, according to the Government Office for Science. This shift in behaviour among young people will mean MOSHing is tipped to become mainstream over the next decade. The Confused.com report predicts that MOSHing will become a lifestyle of choice for men and the younger generation of singles, and so it will be vital to protect these co-dependent lifestyles with some form of insurance.

Men are already MOSHing more than women. Twice as many single men (10%) have bought a house with a friend compared to just 5% of single women surveyed. Some 44% of men would be comfortable owning a property with a friend, compared with 38% of women. Young people are native MOSHers, according to the Confused.com research. More than six in 10 (64%) single 18–24-year-olds have friends they trust enough to buy a house with, compared with around half (47%) of those over 55.

Young MOSHers also have more friends they would trust enough to buy a house with: 18–24-year-old singles have 36%, while those over 55 have just 21%.

Social networking is accelerating friendship and young people are connecting to more people and sharing things in a way that would be impossible in their busy offline lives. Their constant connection to their friends online means that they increasingly want to make these online communities concrete.

Mike Hoban, Chief Marketing Officer at Confused.com explains how this will impact insurers: “Insurance companies are increasingly using social media to communicate with young audiences and the next stage is to recognise, and respond to, the real-life social networks which are structuring the new ‘urban families’ as friends set up home together, supporting one another both financially and emotionally. As our report demonstrates, friendships are increasingly important to independent single people in the UK and a financial industry that caters for single people and couples alike is one that is prepared for the future of personal finance.”

The report, entitled ‘Friendships, Finance and the Future: The Rise of Singledom in the UK’, can be downloaded here:
www.confused.com/life-insurance/articles/~/media/docs/friendships-finance-and-the-future.pdf.

Via EPR Network
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Confused.com Launches New Zombie Video

Confused.com has launched a new video application called ‘Home Sweet Zombie’, in order to increase awareness of the importance of home insurance and raise its social media profile.

The video requires the user to enter their postcode. After doing so, the hometown of the user becomes swamped with a virus and zombie characters appear to make their way to the user’s home making use of Google Maps technology.

In order to demonstrate the need for home insurance, the video app uses the customer’s name and postcode to personalise the experience and make them feel as though their local area has been invaded by zombies. As the video continues, a shot of the zombies with a bomb is shown and the video comes to a climax as the customer’s home is blown up.

The last shot is Confused.com characters holding a message ‘Make sure you get your home insurance through Confused.com’.

The video forms part of the on-going social media strategy of Confused.com, and reinforces the importance of having a home insurance policy in place to make sure possessions are covered against damage and theft.

The video app can be accessed via the Confused.com website here and also Confused.com’s Facebook page. But to widen the campaign further, Confused.com will be sending an email to 1.2 million of its customers, each with a personalised video.

This app also coincides with Confused.com’s Nectar promotion where customers can collect 1,000 Nectar points with every home, pet, van, bike and car insurance policy bought through Confused.com. Customers who buy life insurance will receive 5,000 Nectar points.

The app aims to encourage people to think about the need for home insurance and customers can collect 1,000 Nectar points by simply buying this product through Confused.com.

Speaking about the video app, Mike Hoban, Marketing Director at Confused.com, said: “We’re looking to get people talking about this video app and make people understand the importance of having home insurance. We want to create customer engagement and via Facebook and Twitter we want people to share and like this video, building essential relationships with our customers.

“The aim of the video is also to create a personalised touch for our customers to ensure they know how important they are to us and how important it is to ensure their house is protected against unforeseen circumstances.”

Gareth Kloet, Head of Home Insurance added: “We want to ensure that people have home insurance. By using a comparison site like Confused.com it means we do the hard work for you and the added benefit of this exciting video app is that customers can be directed straight to the site by the click of a button.”

The ‘Home Sweet Zombie’ video app can be found at www.confused.com/news-views/games/home-sweet-zombie.

Via EPR Network
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Bower Welcomes the ReLaunch of SHIP

Bower Retirement Services, winners of the 2011 Equity Release Awards, welcome the relaunch of Safe Home Income Plans (‘SHIP’) as The Equity Release Council (The Council). Bower welcome also the decision of the trade body to broaden its membership to include financial advisers, solicitors, surveyors and other interested parties.

SHIP was established in 1991 by the major product providers as the body to safeguard the interests of consumers entering into equity release plans. Over the past 20 years, SHIP has been very successful in improving the reputation of equity release and in promoting consumer awareness of the products available. The main focus of the Equity Release Council will be to protect consumers and increase education, awareness and understanding of how equity release works, the options available and the consumer safeguards that are in place.

Geoff Charles, Managing Director of Bower commented:

“We welcome the new organisation and look forward to joiningand supporting the Equity Release Council. The changes are excellent news for elderly homeowners who are seeking to release capital from their homes in order to raise a lump sum and/or to supplement their retirement income. The extension of the membership and SHIP standards to all participants in the sector will strengthen consumer confidence and reinforce the message that equity release plans are now mainstream retirement products.”

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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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Payday Express appoints new facilities co-ordinator to ensure staff wellbeing

Short term payday loan provider Payday Express has enlisted a facilities co-ordinator to support its focus on staff wellbeing.

Kristina Winch, who began with Payday Express as an administrator in September 2009, was appointed last month and has been focusing on making improvements to the staff break-out area. Vending machines providing snacks and hot drinks for staff throughout the day have already been installed.

The online payday loan service provider takes staff wellbeing very seriously, paying close attention to the working environment as well as to training programmes, ongoing job support and career development.

As well as vending machines, sofas have also been installed in the break-out area to give staff somewhere comfy to sit during their breaks. This is in addition to the Wii-Fit, which was introduced as part of the March “Be Fit” campaign.

The company also focuses on job satisfaction, aiming to equip employees with the tools and skills to carry out their jobs successfully and progress within their careers. This starts from an employee’s first day in the company when he or she undergoes a two-day induction course, held by the company’s experienced training staff.

Payday Express is a fast-growing company and in May the company recruited 30 new employees across their account management, contact centre and collections departments. Of the 30, 12 of the new starters were referred by friends who already work at the company, a statistic which is representative of the satisfaction felt by employees.

Richard Turner, human resources advisor at Payday Express, said: “Staff wellbeing is paramount. We aim to deliver this not only by creating a welcoming environment, but also by offering effective training and on-going support, which in turn ensures staff provide consistently high levels of customer service.”

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.

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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.

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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”.­­­­­

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The Royal Mint Commemorates 60 Years of The Queen’s Reign

The Royal Mint has revealed two Proof quality UK five-ounce coins to celebrate the momentous occasion of The Queen’s Diamond Jubilee.

Following on from the success of the Alderney issue five-ounce coins created for the Royal Wedding last year, The Queen’s Diamond Jubilee five-ounce will be issued on a UK coin and looks set to sell out as it appeals to collectors who want a unique piece of Diamond Jubilee memorabilia to treasure forever.

The gold five-ounce coin, priced at £9,500, contains five ounces of fine gold and only 250 will be struck. In addition to the gold five-ounce coin, a silver five-ounce coin has also been created, priced at £450, and only 1,952 will be minted in honour of the year The Queen took to the throne.

Created by Ian Rank-Broadley FRBS, the reverse design of the five-ounce coin depicts a majestic image of Her Majesty The Queen enthroned. Inspired largely by the Great Seals of both Queen Victoria and Queen Elizabeth II, the enthroned effigy of The Queen is a very important image, conveying a deeply meaningful sense of stability.

The Queen wears the Royal Diadem and is draped in luxurious robes, the extravagant folds and ornate sculptural detail suggests enormous grace and dignity. The Diamond Jubilee anniversary dates of 1952 – 2012 are shown in Roman numerals and are accompanied by the Latin inscription DILECTA REGNO – ‘I reign beloved’.

The obverse of the five-ounce coins feature the Diamond Jubilee portrait of Her Majesty the Queen also by Ian Rank-Broadley FRBS, created especially for and exclusive to all 2012 Diamond Jubilee UK coins struck by The Royal Mint.

Commenting on his design, Ian Rank-Broadley said: “I did look at the Great Seals of various monarchs and wanted to give a new dimension to that image, to produce something that will have a special significance for the nation and possibly worldwide.”

The Queen’s Diamond Jubilee UK Five-Ounce Gold Coin is housed in a high-gloss wood-veneer presentation case. The Diamond Jubilee UK Five-Ounce Silver Coin is presented in a faux leather case and both come with an illustrated booklet and a numbered Certificate of Authenticity. Both are available now from The Royal Mint’s website www.royalmint.com.

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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.”

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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.

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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

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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.”

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