Personal Finance

Pension plans to hit small firms badly

New pension rules are going to hit UK’s smallest firms very badly by increasing their financial burden at least by £2,550 per year.

The Federation of Small Businesses (FSB) quoted that as per the Government’s new plans for workers, a typical small firm which is just employing 4 persons with a average salary of £25,000 have to find an extra of £2,550 per year, as the employees getting enrolled in the pension scheme automatically.

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Uninformed Savers lose Billions

A consumer group reveals that savers lose billions of pounds every year by storing their money in low-return accounts. In the UK, half of the saving account providers offer less than 0.5% interest.

It is assumed that approximately an amount of £12 billion could be in the pockets of savers who intelligently move their money to high-return accounts.

The reason why so many savers miss out on the extra cash is because their financial institutes of choice do not make transparent how high the returns actually are. That does not make the customers conscious about better deals.

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Intuit offers Complete Credit Card Solution for iPhone

The latest addition comes in form of an entire credit card payment service for Apple's iPhone. Intuit, a financial utility software developer company, has joined hands with iPhone accessory maker Mophie in order to develop a credit card reading device created exclusively for Apple based devices, reports Mac World.

The service is named as Complete Credit Card Solution, and supposedly runs fine with both iPhone 3G and the iPhone 3GS with keeping the mid market segment in mind. And soon the iPhone 4 will be offered as it has taken the form of development.

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New Credit-Card Offer: Keep Eyes Wide Open

In the midst of all the junk mail that may have popped up in the most recent times, may be they are too similar in all the cases, particularly noticing of a solicitation for a ‘professional card’ or else better recognized as corporate credit card. If there is any such mail in the inbox, beware!

The Credit Card Accountability and Responsibility and Disclosure Act of 2009 or Card Act to state in brief, does not include professional cards under the same.

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Lloyds TSB to reduce overdraft charges

Banking giant Lloyds TSB will reduce the overdraft charges on its current accounts from 2nd of December this year.

The fee for a bounced cheque will be hacked by 50 per cent, from £10 to £5. The hacked overdraft fees will affect both daily and monthly fees. Customers who go over their overdraft limits without permission will have to face the daily and monthly fees on their accounts cut from December.

Lloyds TSB had been facing criticism from customers as well as banking lobby groups for high overdraft charges.

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