MILLIONS of Brits are at risk of running out of cash in retirement, according to new research. Eight out of 10 people - or about 80 per cent - are unsure about how much they should be saving for later life, according to a survey by the Pensions and Lifetime Savings Association (PLSA). This means about 30.4 million working age people are at risk of not saving enough to afford the comfortable lifestyle of their dreams once they retire. Automatic enrolment into workplace pensions was introduced in 2012 to head off fears of a later life savings crisis. Minimum contribution rates into workplace pensions are gradually being stepped up to encourage people to save more. The minimum amount currently stands at 5 per cent, where 3 per cent comes from workers and 2 per cent from the employer. Am I on track for a comfortable pension?If you are only putting in the minimum amount for your workplace pension then you are not saving enough for a comfortable pension. Here's how much you'll need … [Read more...] about Warning over pension pots as some won’t be able to afford a haircut – here’s how much you should be saving
How much employers pay for health insurance
0 Have your say Seventy years ago this week, the NHS was born. As part of The Scotsman’s series celebrating the institution, former prime minister Gordon Brown shares his memories of the service and offers a prescription for healthcare in Scotland. Each of us has a unique and lasting bond with the NHS – infants helped because of the skills of midwives, relatives or close friends suffering previously inoperable or untreatable conditions now restored to good health, or parents and grandparents cared for with dignity in later life.READ MORE: Gordon Brown: NHS would be in trauma if Scotland was independentIn my own case, while still a teenager, I was threatened with blindness because of a rugby injury.At Edinburgh Royal Infirmary, a brilliant young surgeon called Hector Chawla, who had just completed training in retinal surgery, came to my rescue. Then, and later, when I faced further complications, he and the NHS staff around him made sure my sight was saved. The … [Read more...] about Gordon Brown: How much do we want to keep the NHS alive?
0 Have your say Each of us has a unique and lasting bond with the NHS; infants helped because of the skills of midwives; relatives or close friends suffering previously inoperable or untreatable conditions, now restored to good health; parents and grandparents cared for with dignity in later life. In my own case, while still a teenager, I was threatened with blindness because of a rugby injury.At Edinburgh Royal Infirmary, a brilliant young surgeon called Hector Chawla, who had just completed training in retinal surgery, came to my rescue. Then, and later, when I faced further complications, he and the NHS staff around him made sure my sight was saved. The nurses, doctors, midwives, porters, cleaners and paramedics really are a team like no other. Is it any wonder that we hold our National Health Service in such esteem?Officially it is 70 years old this week – but north of the Border a state-run national hospital service has been in existence for more than 75 years. It … [Read more...] about NHS at 70: How much do we want to keep it going for another 70 years?
Theresa May is prepared to tear up the Tories’ tax pledges from last year’s general election to pay for her NHS funding plans, as she comes under growing pressure to explain how she will find the money. Government sources signalled that planned cuts to corporation tax and a pledge to increase the personal income tax allowance to £12,500 a year by 2020 could both be ditched, as could a promise to lift the higher-rate threshold to £50,000. In a speech at the Royal Free hospital in London on Monday, with the chancellor, Philip Hammond, in the audience, the prime minister confirmed the government would set aside an extra £20.5bn a year for the health service by 2023. She repeated her controversial suggestion that a “Brexit dividend” would meet part of the cost when the Treasury stopped paying EU contributions. But May also conceded tax rises were inevitable. “As a country taxpayers will need to contribute a bit more,” she said. “But … [Read more...] about Theresa May ready to ditch tax pledges to pay for NHS funding plans
U.K. Prime Minister Theresa May’s big announcement of more money for the cash-strapped National Health Service should have been an easy political win. Instead she’s dug herself in a hole over how to pay for it.After the worst winter on record for the NHS, the much-loved institution is in dire need of fresh funds but a decade of severe spending restraint means the extra cash will almost certainly have to be generated by increasing taxes, something the Conservatives have traditionally been reluctant to do, though opposition to the idea appears to be softening.Dodging the awkward question of who will pay, May promised an annual 20 billion pounds ($26.5 billion) for the NHS by 2023, funded by a Brexit dividend -- the 350 million pounds a week that Britain will no longer have to pay into the EU budget as a result of leaving the European Union.“Some of the extra funding I am promising today will come from using the money we will no longer spend on our annual membership … [Read more...] about Tax Hikes, Not `Brexit Dividend,’ Will Pay for May’s NHS Boost