Now the FSA has told insurers that they have until December to meet regulatory requirements after it found that almost 40 per cent of the letters sent to people ready to retire failed properlyto explain how they could get the best retirement income.
Home boostThe number of Scots owning their own home rose faster than the UK average in the five years to 2006, according to Bank of Scotland figures published today. The 8.9 per cent increase – the highest in the UK – took the owner occupation rate in Scotland to 66 per cent, against a UK average of 70 per cent and more than double the Scottish level of 31 per cent in 1971.
The rise in the last few years has been driven by a significant growth in the number of Scots households owning their home outright, said Bank of Scotland, although there was a 3 per cent fall in first time buyers.
Power playBritish Gas owner Centrica indicated this week that energy bills were set to rise again, but people seeking to avoid price hikes by switching have been warned they could be stuck where they are. According to Moneyexpert.com, anyone who has defaulted on a bill payment and owes money to their supplier will be tied to their contract and unable to switch to a cheaper supplier. "We anticpate large numbers of people to look to switch deals," said MoneyExpert chief executive Sean Gardner. "But if you've missed a bill you won't have that luxury and could be hit with price hikes."
The full article contains 322 words and appears in The Scotsman newspaper.
