Posted by: WealthIFA | October 28, 2011

Financial News Update we 28/10/2011

How are you this week, well I hope?

I have so far managed to escape the illness that has plagued the rest my family over the last 7 days (well it is half term so what did we expect?!) with one or other of them suffering but I am fully expecting it to take hold in the next 24 hours or so… just in time for the weekend!

Last week I attended a Later Life seminar which was focused on the issues facing those in later life – namely care costs.

At one point we were asked how many of us believed that the Dilnot commission’s proposals would make it to the statute books in their current form – well over 90% of the room thought this would not be the case…

Mr Dilnot himself has certainly asked for these proposals to be taken seriously, and not kicked into the long grass but, until there is some cross party collaboration, I fear it will simply be used as a voting tool when required?

The articles over the last week or so are focused on the inflationary pressures we are all facing (although the September CPI figure should at least mean an increase for state benefits next April?) which are all the more concerning if relying on savings income – a basic rate tax payer now needs a gross interest payment of 6.5% just to stand still, whilst a high rate tax payer requires over 8.6% and an additional rate tax payer 10.4%!

As always, please do let me know if you have spotted any articles of interest or if you have any newsworthy stories about yourself or your firm?

Have a great weekend!

This Week …

Estate Planning

National Write a Will week this week http://tgr.ph/ump9W3
Death and taxes: the only two certainties in life: http://bit.ly/qwLD7N
Will writing cowboys are wound up http://bit.ly/tZRNbK
OPG call for comments on registering Lasting Power of Attorneys http://bit.ly/vquypj

Long Term Care

Five Questions About: Long-term care fees: http://bit.ly/ps3853
Orpington to get the best of dementia care as work starts on a new home: http://bit.ly/oxxUpi
Firm criticised over care home fee plan: http://bit.ly/qPQA8k
Dilnot care commission misses issue of rewarding the thrifty: http://bit.ly/v3YHG1
Misery for millions as elderly care funds cut http://tgr.ph/sIaPnf
Which? Councils not helping long-term care self-funders http://bit.ly/sp4v5j

Retirement

State pension and other benefits to rise by 5.2% next year: http://bit.ly/nSlMad
‘The Government is ignoring the impact of inflation on older people’: http://bit.ly/pNobus
Annuity rates fall by 3% in three months: http://bit.ly/u9Gkex

Investments

Q&A: Impact of rising inflation: http://bit.ly/pHlVVv
Millions hit by inflation: http://bit.ly/rmfhxr

Regards
Kieron

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