The headline on the front of most morning paper this week says"Retire at 66 under Tories", This is a political year alright and it seems that cutting the state pension is up for saving the nation from financial oblivion.

During last week’s TUC conference the TUC released a paper entitled ´Decent Pensions for All´. The paper makes the case for maintaining the current defined benefit pension (final salary/ superannuation)schemes in the public sector.

Child trust funds (CTF’s) were introduced by this government in 2005 but backdated for children born on or after September 1, 2002, with the aim of boosting long-term savings for children.

Nine out of ten defined benefit pension schemes, or 87 per cent, are closed to new members, the latest survey by the Association of Consulting Actuaries has found.

Yesterday the DWP confirmed it would be delaying the full introduction of auto-enrolment and personal accounts until 2016 to give more time for employers and pensions administrators to sort out their systems.
Radical reform of the state pension should be the first priority amid calls for an end to mass means-testing of pensioners.

If most men are like me they positively hate shopping and yet my wife sees shopping as one of life’s great pleasures.

Prime Minister Gordon Brown has created a new Business and Financial Services Act which will ban excessive bank bonuses and will give the FSA powers to impose penalties on firms that do not comply.

These are undoubtedly hard economic times we are facing as many businesses continue to struggle to secure all important cash to keep the business afloat. This is not helped by any late and non- payment or as may well be the case potentially reduced invoicing.

As the major political parties hold their annual conferences and start vying for your votes come a general election, which in all probability will not come until 2010, one needs to be wary of making financial planning decisions based on electoral promises and supposition

The Bank of England has held the bank base rate at 0.5% for the sixth month in a row.