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Savings News

CBI chief advises pay should rise as economy improves

The head of CBI warns that the amount of people being paid the minimum wage is a serious problem that needs to be tackled.

John Cridland, the head of CBI, has called for companies to increase employee wages as the economy continues to improve.

Big fall in unemployment rate makes earlier rate rise possible

Unemployment is at a 4-year low

Unemployment has fallen by 99,000 in the three months to the end of October, to reach 2.39 million, the lowest level since 2009, fuelling expectations of an earlier rate rise.

80% of firms expect to hire more young people in 2014

CBI collaborated with Accenture to survey 325 companies in the UK.

More than half of the UK’s businesses predict that new jobs will be in 2014, according to a new report by the British Confederation of Businesses (CBI) and consultancy firm Accenture.

Double the level of state pension needed for happy retirement

LV=  estimate that eight per cent of people don't have any pension arrangements.

LV= puts the cost of a happy retirement at around £225,000, which means not everybody will be able to afford their ideal life once they stop work.

ONS earnings data shows 279,000 people earn below minimum wage

Earnings growth is still behind inflation, according to the ONS

Official figures from the Office for National Statistics (ONS) shows that 279,000 people aged 16 and over earn less than the minimum wage and inflation outpaces wage growth for the fifth successive year.

PAC calls for action over £55bn tax loss

The National Fraud Authority estimates that the cost of fraud to the public sector was £20.6 billion.

The Public Accounts Committee (PAC) has released a report expressing concern over the scale of the government’s financial losses.

Royal Mail agrees landmark pay deal with unions

The Royal Mail has agreed a new pay deal with postal unions

The Royal Mail has agreed a landmark pay deal with the postal workers unions that ensures a three-year pay rise, employment protections and an agreement not to introduce zero-hours contracts.

Annuities are failing pensioners and must change

Annuities need to be reformed, says FSCP

The Financial Services Consumer Panel says annuities are failing consumers and need to change to ensure that pensioners are not exploited.


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