Newspaper article The Journal (Newcastle, England)

Pound Notes

Newspaper article The Journal (Newcastle, England)

Pound Notes

Article excerpt

FINANCIAL DICTIONARY: ACCUMULATION IN PENSIONS, accumulation is the period during which savings are built up for retirement.

The process after accumulation is called decumulation, which describes when you convert your pension savings into a retirement income.

HUNT FOR "LOST" EQUITABLE LIFE VICTIMS INTENSIFIES A NEW publicity drive aims to alert thousands of victims of the Equitable Life scandal who are at risk of missing out on compensation because of failed attempts to trace them.

Around 400,000 policy holders whose details were supplied by Equitable without contact addresses are still due to receive payouts under the compensation scheme, which is being extended for an extra year to give more time for them to be tracked down.

The advertising campaign, which will run in newspapers and online, is to be launched in the coming weeks, a spokesman for the Equitable Life Payment Scheme said.

More than one million people were left out of pocket after the pension firm was brought to its knees more than a decade ago and around 600,000 of them have received payments so far, totalling PS734 million.

Eligible policyholders who have not yet been contacted can call the scheme on 0300 0200 150.

MONEY CAN BUY HAPPINESS IN RETIREMENT PEOPLE aged over 55 are more worried about having enough money to live on than having a companion with which to share their retirement, according to a new survey.

More than one quarter (27%) of more than 2,000 older people surveyed for Aviva's Real Retirement Report said that financial stability was the most important factor to them, with only good health coming ahead of this on their priority list.

Age campaigners said the findings "dispel the myth" that the so-called baby boomer generation has sailed through the tough economy in recent years.

Some 38% of those surveyed said the state of their health was the most important issue for them, while less than one in five (17%) over-55s said that sharing their retirement with a partner was of the most value.

One in eight (12%) older people placed a happy family life at the top of their list and one in 33 (3%) said their hobbies and interests were the factors they most value. …

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