James Purnell told the Institute of Public Policy Research that the proportion of 20 to 29-year-olds contributing to a private pension plan had dropped from a third to a quarter since 2000. “At the moment young people are acting as…

Market analyst Datamonitor claims that nine million people were refused credit last year due to debt problems such as county court judgements or for defaulting on previous repayments, a figure which will rise to 9.4 million by the end of…

The Financial Services Consumer Panel claims that 57 per cent of financial promotions reviewed breeched rules, with 79 per cent of general insurance promotions breaking guidelines. “The FSA [offers] no public scrutiny and pressure to make sure that advertisers keep…

The study from independent price comparison website, uSwitch.com, found that a fifth of 18 to 29-year-olds are permanently overdrawn, while 11 per cent of the population overall are in such a state. According to the survey, a third of those…

Andy Britchford, personal finance analyst at Moneyfacts.co.uk, said that such an approach to lending could help more borrowers avoid debt. “A longer term, more responsible approach to lending, with particular focus at the initial application stage, could perhaps reduce some…

According to a Prudential survey, almost half of all Britons approaching retirement plan to continue to work and 1.4 million are uncertain if they ever will give up work. Ali Crossley, retirement director of Prudential UK, said: “It is very…

Nicholas Bizley, a 51-year-old bank worker who had a wife and two children, lay in front of a freight train as he felt he could not deal with his £100,000 debt problem. “There was no way that he could discharge…

A third of women overall and half of women in Northern Ireland, the south-west and the east of England want to be like the England footballers’ wives and girlfriends (Wags), the Scottish Widows survey showed. Anne Young, senior marketing manager…