No luck over challenge for UK retirement age

It has recently been announced that a law that enables employers in the UK to make employees retire at the age of sixty five is to be upheld, at least for the near future. The decision was made by the High Court, and means that workers in the UK may be forced to retire at that age whether they want to or not, and without any sort of payout from the company. Read more

Tags: Law Crime, future, retirement, Superannuation in Australia, year, finance, uk, court

Banks find out that their charges are most likely unfair

Over the past couple of years the bank charges applied to accounts by banks have been at the centre of controversy, with some banks charging close to £40 per fee when the customer went over their overdraft limits and for returned direct debits and bounced cheques. Officials from the Office of Fair Trading were concerned because the charges were far too high, because they did not in any way reflect the costs incurred by the bank, which amounted to just a few pounds. Read more

Tags: office, decision, memo, Law Crime, bank charges, rbs

Number of drivers caught without insurance ‘doubled’

The number of drivers caught behind the wheel without insurance has doubled over the last year, according one industry expert.

Graeme Trudgill, technical and corporate affairs executive for British Insurance Brokers Association, said in 2007, approximately 150,000 were seized by the police while in 2006 this number was 78,000.

Police now have access to the motor insurance database and the “power to seize uninsured vehicles”, which are both factors helping the authorities to solve other crimes.

“Usually criminals use a vehicle to aid in their criminal activity and it’s quite likely that, being the type of people that they are, they don’t bother to buy insurance, said Mr Trudgill.

According to the Motor Insurers’ Bureau, uninsured driving costs law-abiding motorists in excess of £500m each year or around £30 on their insurance premium.

Uninsured drivers are also responsible for causing an estimated 160 deaths on the road each year in the UK.

Tags: number, Mr Trudgill, Law Crime, Uninsured in the United States, executive, Vehicle insurance

Consumer pressure mounts for bank fee refunds

The consumer campaign to reclaim the fees banks charge when a cheque bounces or customers exceed their overdraft limit was given fresh impetus this week when barrister Tom Brennan took his bank, NatWest, to court.

Mr Brennan, who is 30 and newly qualified, has said he would be putting his personal finances on the line by suing NatWest for alleged injustice, abuse of power and unlawful conduct.

His case is in its early stages as he seeks permission from the City of London County Court to sue the bank.

But it could become an important test-case for other consumers as well as improving awareness of the issue.

Mr Brennan’s case rests on his claim that the charges are “unfair because they do not reflect the actual loss to the defendant”.

To charge a customer £38 when a payment bounces is, he argues, “egregiously invidious” because it is disproportionate to the administrative cost to the bank.

Millions of people have now written to their banks to demand that penalty charges be refunded immediately.

Tags: cheque, fees banks, Banking, Law Crime, case, limit, Business Finance, alleged injustice

Burglaries, vandalism on the rise

The latest figures show that overall crime in Britain has fallen by two per cent but homeowners will be concerned that burglary and vandalism rates are up.

Home Office statistics reveal that burglaries rose by eight per cent, while vandalism increased by 11 per cent in the final quarter of 2006.

These figures have led to a leading insurance firm carrying out its own research in which it found that one in ten Brits have had their property vandalised.

According to research by Lloyds TSB, half of the population believe that vandalism is one of the biggest problems currently facing modern British society, while 22 per cent are concerned that they will become a victim.

The most common form of vandalism is the ransacking of homes, while smashing windows, damaging fences, putting graffiti on walls and smashing garden ornaments are also popular.

“Prevention is always better than cure when it comes to crime and it is great to see evidence that crime appears to be falling in some areas,” commented Phil Loney from Lloyds.

“However our own research backs up today’s crime survey figures which show that vandalism is a problem on the rise. Insurance is vital in this equation and home owners can’t afford to cut back on their cover.”

The perceived causes of vandalism are varied with many Brits blaming a lack of discipline at home (79 per cent), boredom (74 per cent), alcohol and drug abuse (70 per cent) and the lack of a deterrent (44 per cent).

A further nine per cent even blame modern music for the rising crime.

Tags: research, society, Law Crime, burglaries, deterrent

OFT bank charges study welcomed

The announcement by the Office of Fair Trading (OFT) that it will be launching a study into bank charges and the perceived effects of the loss of free banking has been welcomed.

A number of organisations have come forward to welcome the decision which many hope will change the way in which banks treat their customers.

Citizen’s Advice (CAB) has backed it, saying that bank charges for unauthorised overdraft use punish the most vulnerable in society.

“We welcome the further work being done by the OFT concerning bank charges,” said Tony Herbert from CAB.

“Evidence from local bureaux shows that bank charges have a disproportionate effect on people already on low incomes; one charge may be enough to push them into the red and keep them there, incurring more charges that push them further into debt.

“It’s like running up the down escalator – you’ll probably never reach the top,” he added.

The British Bankers’ Association (BBA) has also given its support to the new study, welcoming the OFT’s realisation that the issue of charges is a complex one.

However, the BBA says that it “continues to believe that the fees are legal”.

Tags: Law Crime, tony herbert, british bankers association, Fair Trading, bank, local bureaux, OFT's realisation, organisations

Protection From Car Crime

According to the latest reports, car crime in the UK accounts for nearly 25% of all reported criminal acts in the UK. This is a massive figure, which could affect you when you least expect it. Follow these steps below and you could make your vehicle less attractive for thieves and also decrease your car insurance premiums at the same time! Read more

Tags: piece, car insurance premiums, Law Crime, alarm try, Prevention, prevent car crime