Demography shows that we are all living longer and our ageing population means that day to day contact is more important than ever. Nearly half of the pensioners in the UK have been members of a company pension scheme. A number of companies offer some level of contact with retirees, but the level varies. Budgetary and time constraints mean that retirees are now less of a priority.
Our Aims and Objectives
- Offer help and professional advice to others planning to establish or develop links with former employees.
- Maintain close links with national organisations engaged in pre and post retirement fields.
- Exchange experiences in post-retirement welfare through workshops.
- Arrange courses to keep members abreast of changes in State Benefits.
- Twice per year, organise Conferences of particular interest to those working in the post-retirement field.
January 12th, 2007
Every year an estimated three million of us fall victim to scams sent by post, email, text, the phone and internet, costing consumers £3.5 billion a year. Here we take a look at the risks of financial crime and look at ways to protect yourself this Christmas.
From bogus lotteries and investments to deceptive prize draws, and from fake psychics to ‘miracle’ health cures, scams can take advantage of particularly vulnerable older people.
The Office of Fair Trade (OFT) has recently taken action to ban many unfair sales practices and tighten controls on traders, but mass-marketed scams remain to exist and consumers continue to fall victim.
The OFT advice to those that receive a possible scam offer is: ‘Stop, think, and think again’. Be sceptical and do not be rushed into sending off money to someone you do not know. A scam scheme is designed to con you out of your cash and there are scams out there for everyone. If you let down your guard then you too could become a victim.
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November 4th, 2008
Often overlooked aspects of writing wills were covered at the recent ERA legal day in London.
Experts from the Co-op Legal Services team guided delegates through some of the key issues regarding:
- Wills
- Trusts
- New vulnerable persons legislation
- Age discrimination
Slides presented at the meeting can be found on our Data Resources page. However, our own notes from the event will be published in the ERA magazine due out in November and then added to the website. Please contact us if you require further details.
October 20th, 2008
ERA Member Companies’ retirees now have another place to try for the best insurance quotes.
Unilever’s not-for-profit, in-house insurance service has launched a new website and has opened up its highly personalised service to ERA members.
To get your free, no obligation quote, just visit www.unilever-insurance.co.uk. You will initially need to register and declare yourself an ERA member in the ‘customer type’ section.
Colin Matthews, of Unilever UK Insurance said: “Hopefully we can help some ERA members with our quotes, especially on travel, home & motor insurance where we have used our buying power to try and obtain the best deals for Unilever retirees. Our policies provide blue-chip cover coverage and it never hurts to have another place to compare cover and prices - especially when it comes to personal insurance products.”
If you have any problems, you can telephone Unilever Insurance on 020 7822 5557.
June 11th, 2008
Under the new Pensions Act, men and women reaching state pension age on or after April 6, 2010 will be entitled to a full basic state pension when they have paid National Insurance contributions for 30 years (currently 39 years for women and 44 for men).
If you are affected by the new rules and wish to obtain a written state pension forecast to confirm your position your request will be blocked! This is because the government computers used to produce these forecasts are currently in the process of being updated to reflect the change. It is anticipated that you will not be able to get a written forecast for at least a year. However, you can ask for verbal confirmation of your current total of years, which should be supplied as long as you can quote your National Insurance number. Written pension forecasts for those reaching state pension age before April 6, 2010 are still available in the usual way. Ring 0845 3000 168 for more information.
Those seeking a refund of any voluntary National Insurance contributions paid unnecessarily since 25 may 2006 (the earliest date from which the government will give refunds) should write to HM Revenue and Customs, nICo, Benton Park View, Newcastle Upon Tyne NE98 1ZZ or ring 08459 155 996.
April 30th, 2008
Thousands of bereaved families could suffer intrusive tax investigations and fines as part of a new drive by HM Revenue and Customs (HMRC) to clamp down on inheritance tax.
HMRC is trawling through financial information such as bank statements and pension plans, to make sure any gifts made during the seven years before the donor’s death have been accurately declared. Gifts, without reservation, made more than seven years before the donor’s death are exempt from inheritance tax. There are also annual exemptions, details of which you can get from your local tax office. to cover yourself.
We suggest that if you give away any money or assets, you write down what you have given, to whom and when. Then tell your executors where they can find this information. If inheritance tax is due, it is levied at 40% on assets exceeding the annual allowance, which is £300,000 for this tax year.
April 30th, 2008
As of 1 April 2008, over-60s in England will get a free bus pass to travel on all local bus networks.
The free off-peak service will benefit up to 11m people who are disabled, or aged over 60 and should make it possible to travel across the whole country with a National Travel Pass smart card.
Bus passes will be issued by concessionary bus pass providers. A full list of these is available at the DirectGov website.
If you have any queries, you should contact the bus pass provider for your area, usually the local authority.
The Local Government Authority has said that about 30 local councils are expecting shortfalls of up to £2m, prompting them to call on the Treasury to review its calculations for how much money will be given to individual councils to pay for the scheme. It is of particular concern to areas popular among tourists and shoppers which fear their bus services could be swamped.
* Pensioners in Scotland and Wales have already been able to enjoy free bus travel which allow over 60s free travel on buses at any time during the day. In Northern Ireland, over 65s get free travel on buses and trains and can travel over the border into the Republic of Ireland using the same pass.
April 30th, 2008
The Government will again be making Winter Fuel Payments to most people aged 60 or over for winter 2008/09.
There will be an additional payment for winter 2008/09 of £50 for households with someone aged 60-79 and £100 for households with someone aged 80 or over. This will be paid alongside the Winter Fuel Payment.
As a result of pensions reform the minimum age at which both men and women will be able to receive a Winter Fuel Payment will rise incrementally to 65 between 2010 and 2020. There is a working assumption that it will rise again to 68 with the increase in State Pension age. Precise details of how the Winter Fuel Payment qualifying age will increase are yet to be finalised.
You can call the Winter Fuel Helpline, or visit the website, if you need:
- more information about Winter Fuel Payments
- to tell them about a change in your circumstances
- to get a claim form for Winter Fuel Payments (for either this winter or past winters). You can also download a claim form from their website
The Winter Fuel Payment Helpline is 08459 15 15 15 (0845 601 5613 for textphone users). Lines are open from 8.30am to 4.30pm, Monday to Friday. Charges are the same as for local calls. They may monitor your call to check the quality of service you receive.
Remember, if you are in receipt of a State Pension or another social security benefit other than Housing Benefit, Council Tax Benefit or Child Benefit you should first contact the office that normally deals with you first.
April 30th, 2008
One of the most common calls that the NHFA deals with on their advice line is from families of older people who have to self-fund their care home costs because they own a property.
Often they are given a list of care homes by social services and left to sort themselves out! At no other stage of life could you imagine anybody paying out twenty or thirty thousand pounds a year from limited capital without seeking advice.
The information people receive from local authorities or the NHS does not always paint a clear picture of what they are truly entitled to from the State. Many are certainly not aware that there are specialist financial products and advice available to make the situation much more affordable and tolerable.
If you find yourself in this difficult situation, the NHFA have published a leaflet which may help you ask the right questions.
NHFA Care Advice Line is free and available to all, regardless of means, and combines financial advice with the complexities of local authority charging and assessment procedures, health authority responsibilities, DWP welfare benefits and legal matters. The aim of the NHFA is to enable older people to meet the cost of their chosen care for life whilst also preserving their original capital, independence, dignity and right of choice.
For a free copy of the NHFA Long Term Care Guide or for the Care Advice Line call 0800 99 88 33 or visit the website www.nhfa.co.uk
And finally, take specialist advice.
April 30th, 2008
TaxHelp for Older People (TOP) is a charity which recognises that the system is not flexible enough to make it easy for all older people to understand exactly their tax liabilities.
Basically the tax system applies to all UK residents the same, but many older people still do not realise that they are liable to pay tax on their pension if it is above the Personal Allowance (see below).
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March 13th, 2008
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