Thousands of People Were Mis sold Pensions – Are You One Of Them?

There have been a number of mis selling scandals hitting the financial services area lately, and it seems like every week there is new area affected. One area where the problem has been rumbling on for years now is pensions, and there are no signs that the scale of it is getting any better. The number of people claiming compensation for a mis sold pension increases all the time, so if you think you might be one of them read on.

Have I Been Mis Sold?

Obviously, your first concern is to find out whether you have been mis sold a pension and whether you are entitled to any compensation. The section below gives some examples where it has occurred, though it is by no means exhaustive – if you have any reservations about any advice you have been given, then contact a pension’s expert who will be able to advise you.

Mortgage pensions 

These were very popular in the late 1980’s and early to mid 1990’s, when interest rates were high. People were advised that could take out an interest only mortgage and start a pension as a means of paying off the mortgage at the end of the term. In many cases, these failed to grow as predicted or promised, leaving homeowners with a shortfall that they had to find themselves.

Switching providers

In 2006, rules on switching pensions were relaxed and many advisors had their clients change providers, either on the promise of better returns or to make the administration easier. While this did benefit many people, a number lost out. They weren’t told of charges, or the risks associated with the new funds, or the fact that it wasn’t an equivalent scheme and all sorts of other things that led to the actual returns being lower than what was promised.

Final salary schemes

These pension schemes came with a number of guarantees, not least of which were minimum levels of growth and guaranteed levels of income once you retired. Many people were advised to transfer them into other schemes, such as personal pensions, which appeared to be able to give better returns. However, if the pension didn’t perform as planned or as you were advised then there is a chance that you may have lost out financially and therefore that it was mis sold.

Switching Funds

People approaching retirement, i.e. those in their 50’s and 60’s, are often advised to move their pension ‘pot’ into other schemes and funds that would supposedly protect the funds already built up. As with the other examples, a number of people may have lost out because the advisor didn’t take into account their views regarding risk, or tell them about charges, or explain properly the options available.

Next Steps

If you think any of the examples above apply to you, then you need to get your claim checked out properly. Due to the complexity of the rules around how pension schemes work, most people should go to a specialist pension claims company who will investigate on their behalf and, if they have been mis-sold to, raise a claim for compensation.
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5 Tricks to Avoid Overspending at Christmas

Christmas is a time when overspending can get the better of even the most frugal budgeter, which is why you need to use these tricks to keep your finances on track. Christmas is all about being swept up by the spirit of the love, community, family and giving of the season, so it is no surprise that many of us get swept up to such an extent that we forget about our finances.

Instead, make sure you take the time while you’re waiting in the inevitable Christmas time lines at the cash register, to really think about the purchase you’re about to make. If you’re not sure about a purchase , you don’t know if you really need it or you think you might be trying to convince yourself you do need it, then get out of the line and take a walk to make sure you’re making a conscious purchasing decision, for something that is clearly on your list.

Other ways you can avoid overspending at Christmas time are :

1 – Spend 1.5% of your household income

Just because Christmas only comes around once a year it doesn’t mean you have to blow all of your spare cash on the celebrations. Instead, set your spending based on what you can afford, by allocating 1.5% of your household income to go towards your Christmas shopping. Allocating a percentage of your income to your Christmas spending allows you to be realistic about what you can afford, rather than pulling a random number out of the air, or not pulling out a number at all.

2 – Keep budgeting

Now you have your overall spending budget, allocate a budget for each person you are buying for this Christmas. This stops you from spending all of your budget on the first few people at the top of your list, and then feeling guilty about the people on the bottom of the list and continuing to spend. It also means you’ll be able to fairly even in your spending for each person.

Also make sure you keep your Christmas shopping list with you at all times so that you will always know where you are with your budget. This allows you to make a quick purchase when you see something on special which you can check off of your list, and you can also make sure you don’t double up on gifts for the same person, because you’ll know who you’ve already bought for and how much you’ve spent on them – and more importantly how much you have left to spend on them.

3 – Spend your own money

Running out of money is a powerful motivator to avoid spending more than you can afford. Therefore, use a debit card which draws from your own savings account, or a prepaid Visa card which you can load up with your own money before you go shopping. In this way you know there is no more money to spend once your Christmas budget is gone.

4 – Shop early

When you are rushing around the store at the last minute looking to check gifts off of your list for everyone, then you’re more likely to buy things just because they are there, not because they are on your list or would really suit the person you are buying for. You’re also more likely to overspend because you don’t take the time to shop around, instead buying the first item you see just so you can escape the mad rush of people. Giving yourself plenty of time to organise your Christmas gifts also means you have the time to think of more meaningful gifts, and the time to make gifts if you choose.

5 – Give unique gifts

A gift you make can often cost much less that one you buy, and mean so much more. You could bake gift baskets for your friends and family or make up a box or basket of the person’s favourite things such as their favourite foods, drinks, cosmetics and stationery. You can also play to your strengths, so if baking isn’t one of your strong points you could write a song or a poem, create a piece of artwork, take a series of photographs of the family or the person’s favourite place and frame them.

You could even forgo traditional gifts all together and make a donation to charity in each person’s name. Many charities will even send you out cards with a picture of the chicken, goat or well your donation helped buy. When you take the time to really think about Christmas and your gift giving you will find there are a myriad of ways you can save money and curb your spending without missing out on any of the fun and excitement of the holiday.
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Trading Tips You Should Know

First of all let me say this right from the start so you can decide whether to continue reading this post or leave so you won't waste your time. Trading and understanding the world of stocks and Forex takes time and you will not get rich over night with a few good trades unless you're trading with a huge amount of money, but we're not here for the luck, we're here to make money. If you want to work with hunches and gut feelings search for the nearest casino because trading is one of the hardest professions today but also the most rewarding one.

Just like any new subject or business you should learn it first and with time, trial and error and experience you'll master it and will able to make money, but instead of mastering a regular job or occupying an office for 9 hours each and every day, wouldn't you prefer mastering the world of trading stocks and Forex and make a good living no matter where you are trading from your computer?

This will take time like I said but if you're dedicated, have self-discipline and works according to known and proven stocks and Forex trading strategies and tips, in time you'll become a pro yourself and the money will flow. Yes, you'll have bad days and days when your trades will not go well but in time you'll profit more than you lose and that's where we're aiming. So, here are a few tips I can give you fast just to get you started:

Study the market

Don't jump into trading immediately because you'll lose money. First, try to understand how the market works, what are the forces that drive it up or down, try to predict without trading first if today will be a good and green day or a red day with lows, always study and learn to master.

Trade with a fair amount of money

Here's what I mean by this – never ever trade with all your money. Making money from trading will not be your primary income at first so you should trade with an amount of money you can tolerate to lose if you're wrong with your trades. Think of it as spare money for starters and only when you're more secured and master the market you can trade with a larger amount but never risk it all since trading takes time.

Work with your mind not with your gut

Trading is not gambling and people from all over the world make a living from trading smart and so, if you want to trade right do your homework prior to trading day, know what stocks or currencies you want to buy, know the entering and exit points at all times and work with your mind and never with your gut feelings, this is not a roulette and only if you are prepared and everything is written down ahead of the trading day you will earn more and limit your loses if you were wrong.

These are just a few basic but very important tips I've just shared with you. Remember that every professional trader was a beginner at first but to this day he follows these rules and tips and more to stay ahead in this world and profit from anywhere in the world, anytime. Now it's up to you to decide whether you're entering this world as well to make money or stay outside just because you're afraid. Not matter your decision, I just want to wish you all the best!
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Non Owner Car Insurance: The Ultimate In Penny-Pinching Insurance Coverage

Car insurance can be expensive, so it comes as no surprise that people are constantly looking for ways to save on it. What is most important when looking for the cheapest car insurance option, though, is to ensure that you do not sacrifice coverage for cost. Your insurance policy must be right for you, and so you must have the right coverage, that will actually cover the circumstances you might find yourself in. This requires understanding what those cheap insurance options really are, and then determining if they are a true value for you.

One of the absolute cheapest forms of car insurance is non owner car insurance. For the right people, non owner auto insurance is a great buy; but it is not right for the majority of drivers. So let's take a look at who it is right for, and who can really benefit from this very economical car insurance option.

What Is Non Owner Car Insurance?

Simply put, non-owner car insurance is exactly what it sounds like it is. It is insurance for a person who is not the owner of the vehicle being driven. It is auto insurance that is carried at a low premium by an individual so that that person is covered if they are in an accident and cause injury or property damage in someone else's car. Note that this is not coverage paid for by a car's owner, it is paid for by the person carrying the policy. If an accident occurs, the policy kicks in on top of the policy that the vehicle owner has to provide personal protection to the non-owner driver.

Why Would You Want Non-Owner Car Insurance?

You might choose to purchase such a policy for just that reason- to ensure that you cannot be held personally liable in the event of an accident in a vehicle you do not own. If you own no vehicle, have no policy, but occasionally drive someone else's car, this is a good, cheap way to be covered. However, it will not cover you if you own a vehicle and have another policy – at that point it is just duplicate coverage - and it will not cover you in a work-related or company vehicle.

Non owner auto insurance is cheap because it is very limited. However, any driver should always carry insurance coverage, and so if you are an occasional driver with no other policy using vehicles you do not own, this affordable insurance option is definitely something worth its minimal investment.
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A guide to building insurance for rented property

When renting out a residential or commercial property, it is important to make sure that the real estate investment is properly protected. Renting out property can be a good way to earn income for a property owner, and a good way for someone who does not want to be exposed to the real estate market to occupy a piece of property. Whether a person is the tenant or the landlord, however, it is important to have the right insurance coverage.

Renter’s insurance for a tenant is relatively cheap and easy to get. Most major insurance companies offer renter’s or tenant insurance policies. These policies cover all of the contents in a home or business, but not the structure of the building being rented. In the event of a natural disaster or an accident, the policy will pay for any belongings, such as furniture, appliances, merchandise or household goods that have been damaged or destroyed.

Renter’s insurance for a residential tenant usually costs only a couple of dollars a month, and is the only way goods can be protected in the case of a fire or even a flood. Commercial tenants usually have rates based on the dollar amount of the merchandise or equipment they have housed at the location being insured.

A landlord can also have a renter’s policy for his or her property. While most homeowners or commercial property owners will carry insurance protecting both their possessions and the structure of their building in the event of a natural disaster or accident, a different type of policy is needed when a property is being rented out. These policies will usually cost less than a full-blown homeowner’s or business owner’s insurance policy.

The main reason for this is that these policies only cover the building’s structure and any items attached directly to it. For this reason, these policies are often referred to as building insurance. A building insurance policy will repair or replace a building’s basic structural components (such as walls and a roof), decorative components (like crown moulding and paint), major appliances (like refrigerators and ovens) and internal components (such as carpeting and doors). These policies can also cover additional buildings on the property such as detached garages and sheds. For commercial property owners, the policy can cover drainage systems and parking structures.

Building insurance does not cover any items inside the building, including anything that is the property of the tenant. For this reason, it is normally suggested that tenants get their own renter’s insurance policy. Property owners who take out these policies should also be aware of how important it is to report the property’s status to an insurance company accurately. While insurance for vacant properties can be more expensive, if damage occurs to the property while there is no tenant and the vacancy was not reported to the insurance company, the damage will not be covered.
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