Posted by: WealthIFA | October 7, 2010

Financial News Update we 08/10/2010

Wow, what a week!

It all started on Monday – and apologies if you are not a golfing fan – with Graeme McDowell keeping his cool for the Ryder Cup, bringing it back to Europe after its vacation to the states.

Over in Delhi we have managed (at the time of writing) to amass no less than 12 Gold medals and are currently 3rd in the table behind Australia & India (or second if you look at the total medal haul).

Away from the sport and back to finance, it was a big week for Pensions too…

Again starting on Monday with the Panorama programme on commissions, we saw how the effects of charges depleted funds… or did we? http://ow.ly/19h8Ii

In his interim report, published today, Lord Hutton recommends a radical change to the current public sector pensions system – clearly those who are fortunate enough to have such a scheme are not happy at the prospect of working longer for less but then those who fund such schemes (the taxpayers) could be forgiven for thinking that, financially speaking, it does make sense bearing in mind the dire state of our public purse http://bit.ly/9Dz7Dg.

No surprise really that the Bank of England decided to leave rates at 0.5% again – http://bit.ly/bX50so so celebrations continue perhaps for those on low rates for Mortgages, but it still means pitiful returns for those with savings on deposit.

Oh and in case you want to relive that Ryder Cup moment I mentioned earlier, it’s beautifully captured by the BBC… http://bbc.in/dtrgLK

Have a fantastic weekend!

Estate Planning

Inheritance tax plans probed: http://bit.ly/cZTiVc
Misleading IHT planning claims for wine cellar investments http://bit.ly/cI4nY6
Slump in number of non-resident taxpayers http://bit.ly/drTTJ6

Long Term Care

Dental treatment lacking in Some Care Homes (includes free and impartial advice helpline number): http://bit.ly/deq5lk
CQC sets new nursing care standards http://ow.ly/19i1YQ

Retirement

Govt’s spending review ‘should not hurt pension holders’ http://ow.ly/19fqyO
Report offers window on insufficient pensions http://ow.ly/19k7hx
How to maximise your pension… http://bit.ly/bcKdJ9

Investments

Raised ISA limit encourages record savings http://ow.ly/19gmGR

Regards
Kieron

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