2 days agoBlogsComments Off on Workers who lose jobs will be prioritised for benefits over those who have never had one in new welfare crackdown
WORKERS who lose their jobs will be prioritised for benefits over those who have never had one under a crackdown on welfare, The Sun on Sunday can reveal.
Claimants who have paid into the system will get greater income protection under the “unemployment insurance” benefit while others — such as new graduates — could get less.
Secretary of State for Work and Pensions Liz Kendall is leading the plans for welfare reformGetty
It comes as ministers say they are pursuing a “moral duty to get Britain working again”.
They are facing a worsening crisis in which more than 9.3million working aged people have no job — and are not looking for one.
Under the scheme, support would be time-limited and all claimants would have to actively seek work, in a major change to the system.
Almost all disabled people and those with long-term health conditions on the new benefit would have to take part in conversations about employment support.
Exemptions would be put in place for those who are obviously unable to work.
A Government source said: “We have a moral duty to get Britain working again and put welfare spending on a sustainable path.
“We will deliver reform with real people and real voices at the heart of the changes — people who for too long have been ‘signed off’ rather than ‘signed up’ to support which will help them back to work.”
The source claimed that the situation Labour inherited from the Conservatives was stark.
Of the more than 9.3million out of work and not seeking it, 2.8million are on long-term sickness benefits — one of the highest rates in Europe.
One in eight young people is not in work, education, or training and the UK is the only major economy whose employment rate has not recovered since the Covid pandemic.
Last year, the Government spent £65billion on sickness benefits. By 2030, it will be spending more than £1billion a week.
The Government source insisted: “Our reforms are not simply being driven by a desire to balance the books.
“It’s about giving people the best opportunities to get on in life through meaningful reforms to the system to stop people becoming trapped and dependent on benefits.”
The source said the Government wanted to restore trust and fairness in the system by fixing the broken assessment process.
The shake-up of the benefit system will be unveiled next week.
Ms Kendall is to publish a Green Paper on the overhaul for consultation in the next few weeks.
It comes as ministers prepare to unveil more than £6billion of welfare cuts, including making it harder for people to qualify for Personal Independence Payments.
The proposed changes are highly likely to outrage left-leaning Labour MPs who are already planning a revolt against welfare cuts.
A shake-up of the UK’s benefit system will be unveiled next weekAlamy
2 days agoNews 1Comments Off on Meghan Markle’s Netflix show is her ‘last opportunity in Hollywood’ as Duchess ‘hasn’t earned her stripes’
MEGHAN Markle’s Netflix show is her last opportunity in Hollywood as she hasn’t earned her stripes, an expert has claimed.
With Love, Meghan launched on the streaming platform on Tuesday after being delayed from January because of the Los Angeles wildfires.
Meghan Markle’s Netflix show is her last opportunity in Hollywood, an expert has claimedThe Mega AgencyNick Ede has described why Hollywood is falling out of love with Meghan and Prince Harry[/caption]
Channel 5He appeared on the Channel 5 show Harry and Meghan’s American Nightmare[/caption]
COURTESY OF NETFLIXThe Duchess of Sussex’s new show dropped earlier this week[/caption]
But the eight-part series, which sees the former Suits actress give hosting tips and cooking with her celebrity friends, has been savaged by critics.
And now an expert has described why Hollywood is falling out of love with the Duke and Duchess of Sussex.
PR expert Nick Ede appeared on the Channel 5 show Harry and Meghan’s American Nightmare.
He explained: “Hollywood is falling out of love with Meghan and Harry because over there you have to earn your stripes – and it really feels like they haven’t earned those stripes.
“If you are a George Clooney or an Arnold Schwarzenegger, you can get to a level where you can be a little bit political, where you can use your gravitas to really make a change.
“What I feel about Meghan and Harry is, they haven’t earned that so people are beginning to stop listening.”
While journalist Dawn Neesom claimed all of Hollywood had “turned on them”.
She said: “It’s not just Vanity Fair that has turned on them.
“It does feel like the whole of Hollywood has turned on them, but there has been a seismic change in how people feel about Harry and Meghan in America.”
The duchess posted on Instagram saying she’s “thrilled” with the decision.
InstagramMeghan shared a rare photo of her daughter Lilibet with her dad Prince Harry[/caption]
InstagramOther pictures shared on her Instagram page included a smiling selfie with her mum Doria Ragland[/caption]
InstagramIn the final snap Meghan can be seen hugging hubby Harry on a beach[/caption]
InstagramMeghan as a baby pictured with her mother Doria[/caption]
Meghan shared the news that it had been renewed on Instagram
2 days agoNews 1Comments Off on How to get the best deal on your annuity and get an income of £7,260 a year as annuities taken out hits 15-year high
PENSION annuity rates have hit a 15-year high and experts say now is the time to lock in a deal.
An annuity is a product you can buy with your pension pot that gives you a guaranteed income in retirement.
Pension annuity rates have hit a 15-year high and experts say now is the time to lock in a dealGettyAfter you have set up an annuity, you cannot make any changes to it[/caption]
How much income you get depends on several factors including the value of your pension pot and your health, life expectancy and circumstances.
Rates change all the time and this can have a huge impact on what you receive in retirement but people choose them because they get a sense of security.
Adele Cooke reveals the rates on offer and how to make sure you get the best deal.
How do annuities work?
ANNUITIES give you a guaranteed income when you retire that will be paid for the rest of your life.
Most people buy one with money from their pension pot.
You can take up to a quarter of your pension’s total value as tax-free cash and then use the rest to buy the annuity.
These payments are then taxed as income.
To buy an annuity, you must be aged 55 or older, but this threshold will rise to 57 from April 2028.
After you have set up an annuity, you cannot make any changes to it.
You will then get guaranteed regular payments, which you agree to when you set up your annuity.
Are they a good idea?
ANNUITIES can be a good option for people who want the guarantee of an income for life.
They will pay you the same amount irrespective of what happens to interest rates and in the wider world.
But they are not right for people with complex health issues or a shorter life expectancy.
This is because the longer you live after taking out an annuity, the better the return you get on your initial investment.
For example, you could spend £100,000 on an annuity that pays £7,000 a year.
After 20 years you would have received a total of £140,000 — £40,000 more than you paid for the annuity.
But if you lived for just seven years after you had taken out the annuity, you would have been paid a total of £49,000.
This would be £51,000 less than you paid for the annuity.
As the annuity rate is fixed, they are not right for people who may need more income in the future.
Before you take out an annuity you should consider some of the pitfalls.
For example, if you die early then not all annuities will pay out to a loved one after you pass away.
Often, if you choose this kind of benefit, your provider will offer you a lower yearly annuity income.
Meanwhile, if you lock into an annuity and rates increase later then your income will not change.
What’s the best rate?
AVERAGE annuity rates for a 65-year-old are currently around 7.26 per cent, according to financial planner Retirement Line.
This means for every £100,000 you spend, you would get £7,260 a year.
For comparison, in 2020, a typical annuity paid just 4.65 per cent, which is equivalent to £4,650 a year on the same investment.
Andy King, pension technical specialist at wealth management firm Evelyn Partners, says: “Annuity rates have not been as high as today since the middle of 2008.
“There was a short-term blip after the Liz Truss tenure when rates reached 7.4 per cent but they then dropped sharply down to just over 6 per cent within six months.”
Different providers offer different rates so you should shop around to make sure you are getting the best deal.
Buying an annuity is usually an irreversible decision so you should make sure you are happy with your purchase and are getting the best deal before you commit.
Mark Ormston, of Retirement Line, says: “The average annual income difference between the lowest and highest offering on the open market was 14 per cent.
“That’s 14 per cent less every year for the rest of someone’s life! This gap increases when health and lifestyle factors are included.”
Scottish Widows currently has the best annuity rate, at around £7,442 per annum.
Meanwhile, Aviva would offer the same customer a return of £6,916 a year — £526 less.
Over a 20-year retirement you would be £10,520 worse off with the Aviva annuity.
Some providers offer better rates to customers who are in poor health, such as smokers, those who have a heart attack or suffer from high blood pressure.
This is because they assume you will not live as long so they will need to pay out your annuity for a shorter period.
For example, Aviva will pay smokers £7,922 a year — £1,006 more than non-smokers.
How can I get best deal?
AS you approach retirement, your pension provider should send you information about the value of your pot and your options to take money from it.
Some providers can offer you an annuity directly.
But you do not have to buy an annuity from your existing provider.
For annuity advice contact Pension Wise, a free government service that can help you to understand the options for your pension pot.
You can also compare annuities on the Money Helper website.
If you need help choosing an annuity deal, speak to a broker.
Make sure they are registered with the Financial Conduct Authority and do not accept a quote without taking advice first.
ANTI-FRAUD CREDIT WOE
SAVERS are being penalised by financial firms for taking out anti-fraud protection.
An investigation by The Sun has found that Cifas protective registration is being viewed as a red flag by financial firms.
GettySavers are being penalised by financial firms for taking out anti-fraud protection[/caption]
This is leading to customers’ applications being blocked when they apply for things such as credit and mortgages.
Protective registration offered by fraud-protection organisation Cifas costs £30 and puts a marker on your credit report to tell companies that they should take extra care to verify your identity.
People sometimes apply for it if they have been a victim of fraud or identity theft. But it is understood that firms are rejecting customers with these markers.
The Financial Ombudsman Service (FOS) has upheld several decisions where a customer has complained that a lender rejected them because of protective registrations.
Benson Varghese, of law firm Varghese Summersett, said: “I’ve worked with several clients who were denied mortgages or loans due to a Cifas protective registration, despite having strong credit histories.”
A Cifas spokesperson said: “We were not aware of Cifas customers being routinely denied credit by some lenders because they have taken out protective registration with us, and are grateful to The Sun for raising this.”
Treated unfairly by a firm due to this reason? Make a complaint. If you don’t get an adequate response, contact the FOS.
LAURA PURKESS
DON’T MISS BENEFIT SWITCH
TENS of thousands of benefit claimants are being urged to switch to Universal Credit before the end of the month, or risk losing their benefits permanently.
The warning comes as the Government transfers all legacy benefit claimants to Universal Credit through a system known as “managed migration”.
AlamyBenefit claimants are being urged to switch to Universal Credit before the end of the month, or risk losing their benefits permanently[/caption]
Those still receiving Child or Working Tax Credits must act quickly to make the switch, as all Tax Credit accounts will be permanently closed on April 5.
Sir Stephen Timms MP, Minister for Social Security and Disability, told Sun Money readers: “With just one month to go until Tax Credits are closed, it is extremely important that people respond to the letter asking them to transition to Universal Credit.
“Some of our customers have told us it only took them an hour to complete the process.”
The move officially began in July 2022 and since then households receiving one of six legacy benefits have been sent letters with instructions on how to transition to Universal Credit.
It is vital for those still relying on them to act to avoid losing their entitlements.
Sir Stephen added: “Support is available for households making the move including our dedicated helpline, guidance on gov.uk, and the Citizens Advice ‘Help to Claim’ service.”
If you are unsure what to do, contact the Universal Credit Migration Notice helpline on 0800 169 0328.
2 days agoBioGraphiComments Off on Man ‘obsessed with Southport killings’ stabbed girl, 9, in the neck as she played on stairwell outside his home – The Sun
A man obsessed with children’s murders and “inspired” by Southport attacks, he stabbed a nine-year-old girl while playing outside his ...
2 days agoBioGraphiComments Off on Man ‘obsessed with Southport killings’ stabbed girl, 9, in the neck as she played on stairwell outside his home – The Sun
A man obsessed with children’s murders and “inspired” by Southport attacks, he stabbed a nine-year-old girl while playing outside his ...
