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	<title>Smart Money Centre</title>
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	<link>http://www.smartmoneycentre.co.uk</link>
	<description>Recession proof finance info</description>
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		<title>15% off ALL Mice at comet with online discount voucher</title>
		<link>http://www.smartmoneycentre.co.uk/306/money-saving/discount-codes-and-vouchers/15-off-all-mice-at-comet-with-online-discount-voucher/</link>
		<comments>http://www.smartmoneycentre.co.uk/306/money-saving/discount-codes-and-vouchers/15-off-all-mice-at-comet-with-online-discount-voucher/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 10:21:37 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Discount codes and vouchers]]></category>
		<category><![CDATA[comet discount code]]></category>
		<category><![CDATA[discount code]]></category>
		<category><![CDATA[discount voucher]]></category>
		<category><![CDATA[mice]]></category>
		<category><![CDATA[mouse]]></category>
		<category><![CDATA[voucher code]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/?p=306</guid>
		<description><![CDATA[15% off ALL Mice &#8211; voucher code 15MICE
Offer expires 22/8/09
]]></description>
			<content:encoded><![CDATA[<p><a href="http://tidd.ly/852b8135" onmouseover="self.status=\'http://www.comet.co.uk/shopcomet/category/209/Mice \'; return true;" onmouseout="self.status=\'\'; return true;" target="_top">15% off ALL Mice &#8211; voucher code 15MICE</a></p>
<p>Offer expires 22/8/09</p>
]]></content:encoded>
			<wfw:commentRss>http://www.smartmoneycentre.co.uk/306/money-saving/discount-codes-and-vouchers/15-off-all-mice-at-comet-with-online-discount-voucher/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>20% off all Fax Machines at Comet online &#8211; Voucher code offer</title>
		<link>http://www.smartmoneycentre.co.uk/305/money-saving/discount-codes-and-vouchers/20-off-all-fax-machines-at-comet-online-voucher-code-offer/</link>
		<comments>http://www.smartmoneycentre.co.uk/305/money-saving/discount-codes-and-vouchers/20-off-all-fax-machines-at-comet-online-voucher-code-offer/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 10:18:02 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Discount codes and vouchers]]></category>
		<category><![CDATA[comet]]></category>
		<category><![CDATA[comet discount code]]></category>
		<category><![CDATA[discount voucher]]></category>
		<category><![CDATA[fax machines]]></category>
		<category><![CDATA[offer]]></category>
		<category><![CDATA[voucher code]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/305/money-saving/discount-codes-and-vouchers/20-off-all-fax-machines-at-comet-online-voucher-code-offer/</guid>
		<description><![CDATA[20% off all Fax Machines &#8211; voucher code 20FAX
Offer expires 22/8/09
]]></description>
			<content:encoded><![CDATA[<p><a href="http://tidd.ly/14214d1e" onmouseover="self.status=\'http://www.comet.co.uk/shopcomet/category/1942/Fax-Machines \'; return true;" onmouseout="self.status=\'\'; return true;" target="_top">20% off all Fax Machines &#8211; voucher code 20FAX</a></p>
<p>Offer expires 22/8/09</p>
]]></content:encoded>
			<wfw:commentRss>http://www.smartmoneycentre.co.uk/305/money-saving/discount-codes-and-vouchers/20-off-all-fax-machines-at-comet-online-voucher-code-offer/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>3% off all orders over £150 at Comet with discount voucher offer code</title>
		<link>http://www.smartmoneycentre.co.uk/303/money-saving/discount-codes-and-vouchers/3-off-all-orders-over-150-at-comet-with-discount-voucher-offer-code/</link>
		<comments>http://www.smartmoneycentre.co.uk/303/money-saving/discount-codes-and-vouchers/3-off-all-orders-over-150-at-comet-with-discount-voucher-offer-code/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 10:15:26 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Discount codes and vouchers]]></category>
		<category><![CDATA[3% discount]]></category>
		<category><![CDATA[comet]]></category>
		<category><![CDATA[comet discount code]]></category>
		<category><![CDATA[offers]]></category>
		<category><![CDATA[vouchers]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/?p=303</guid>
		<description><![CDATA[3% off all orders over £150 &#8211; voucher code 3150AW
Offer expires 31/8/09
]]></description>
			<content:encoded><![CDATA[<p><a href="http://tidd.ly/11f9d27d" onmouseover="self.status=\'http://www.comet.co.uk/shopcomet/homePage.do?zone_id=13 \'; return true;" onmouseout="self.status=\'\'; return true;" target="_top">3% off all orders over £150 &#8211; voucher code 3150AW</a></p>
<p>Offer expires 31/8/09</p>
]]></content:encoded>
			<wfw:commentRss>http://www.smartmoneycentre.co.uk/303/money-saving/discount-codes-and-vouchers/3-off-all-orders-over-150-at-comet-with-discount-voucher-offer-code/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>20% off dictaphones with comet discount voucher code</title>
		<link>http://www.smartmoneycentre.co.uk/301/money-saving/discount-codes-and-vouchers/20-off-dictaphones-with-comet-discount-voucher-code/</link>
		<comments>http://www.smartmoneycentre.co.uk/301/money-saving/discount-codes-and-vouchers/20-off-dictaphones-with-comet-discount-voucher-code/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 10:12:58 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Discount codes and vouchers]]></category>
		<category><![CDATA[comet discount code]]></category>
		<category><![CDATA[dictaphone]]></category>
		<category><![CDATA[discount voucher]]></category>
		<category><![CDATA[offer code]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/?p=301</guid>
		<description><![CDATA[20% off all Dictaphones &#8211; voucher code 20DICT
Offer expires 22/8/09
]]></description>
			<content:encoded><![CDATA[<p><a href="http://tidd.ly/341478a3" onmouseover="self.status=\'http://www.comet.co.uk/shopcomet/category/1918/Dictaphones\'; return true;" onmouseout="self.status=\'\'; return true;" target="_top">20% off all Dictaphones &#8211; voucher code 20DICT</a></p>
<p>Offer expires 22/8/09</p>
]]></content:encoded>
			<wfw:commentRss>http://www.smartmoneycentre.co.uk/301/money-saving/discount-codes-and-vouchers/20-off-dictaphones-with-comet-discount-voucher-code/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Save 10% off the Archos 5 bundle with Comet &#8211; Voucher code</title>
		<link>http://www.smartmoneycentre.co.uk/299/money-saving/discount-codes-and-vouchers/save-10-off-the-archos-5-bundle-with-comet-voucher-code/</link>
		<comments>http://www.smartmoneycentre.co.uk/299/money-saving/discount-codes-and-vouchers/save-10-off-the-archos-5-bundle-with-comet-voucher-code/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 10:09:10 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Discount codes and vouchers]]></category>
		<category><![CDATA[archos]]></category>
		<category><![CDATA[archos5]]></category>
		<category><![CDATA[comet]]></category>
		<category><![CDATA[discount code]]></category>
		<category><![CDATA[discount voucher]]></category>
		<category><![CDATA[offers]]></category>
		<category><![CDATA[voucher code]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/?p=299</guid>
		<description><![CDATA[10% off Archos5 Bundle &#8211; voucher code ARCHOS10
Expires 22/8/09
]]></description>
			<content:encoded><![CDATA[<p><a href="http://tidd.ly/9aae07ed" onmouseover="self.status=\'http://www.comet.co.uk/shopcomet/product/558729/ARCHOS-5-160GB-DVR\'; return true;" onmouseout="self.status=\'\'; return true;" target="_top">10% off Archos5 Bundle &#8211; voucher code ARCHOS10</a></p>
<p>Expires 22/8/09</p>
]]></content:encoded>
			<wfw:commentRss>http://www.smartmoneycentre.co.uk/299/money-saving/discount-codes-and-vouchers/save-10-off-the-archos-5-bundle-with-comet-voucher-code/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Save £20 on the Panasonic G1 digital camera  &#8211; Voucher code</title>
		<link>http://www.smartmoneycentre.co.uk/297/money-saving/discount-codes-and-vouchers/save-20-on-the-panasonic-g1-digital-camera-voucher-code/</link>
		<comments>http://www.smartmoneycentre.co.uk/297/money-saving/discount-codes-and-vouchers/save-20-on-the-panasonic-g1-digital-camera-voucher-code/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 10:04:15 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Discount codes and vouchers]]></category>
		<category><![CDATA[discount code]]></category>
		<category><![CDATA[offer]]></category>
		<category><![CDATA[panasonic g1]]></category>
		<category><![CDATA[voucher code]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/?p=297</guid>
		<description><![CDATA[£20 off Panasonic G1 &#8211; voucher code G1SLR50
Offer expires 22/8/09
]]></description>
			<content:encoded><![CDATA[<p><a href="http://tidd.ly/459eae7a" onmouseover="self.status=\'http://www.comet.co.uk/shopcomet/advice/692/Panasonic-G1\'; return true;" onmouseout="self.status=\'\'; return true;" target="_top">£20 off Panasonic G1 &#8211; voucher code G1SLR50</a></p>
<p>Offer expires 22/8/09</p>
]]></content:encoded>
			<wfw:commentRss>http://www.smartmoneycentre.co.uk/297/money-saving/discount-codes-and-vouchers/save-20-on-the-panasonic-g1-digital-camera-voucher-code/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Switch and save on gas and electricity bills</title>
		<link>http://www.smartmoneycentre.co.uk/293/money-saving/switch-and-save-on-gas-and-electricity-bills/</link>
		<comments>http://www.smartmoneycentre.co.uk/293/money-saving/switch-and-save-on-gas-and-electricity-bills/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 08:57:10 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Money Saving]]></category>
		<category><![CDATA[cheapest electricity bill]]></category>
		<category><![CDATA[cheapest electricity supplier]]></category>
		<category><![CDATA[cheapest gas bill]]></category>
		<category><![CDATA[cheapest gas supplier]]></category>
		<category><![CDATA[compare energy suppliers]]></category>
		<category><![CDATA[comparison]]></category>
		<category><![CDATA[electric bill]]></category>
		<category><![CDATA[electricy bill]]></category>
		<category><![CDATA[gas bill]]></category>
		<category><![CDATA[switch and save]]></category>
		<category><![CDATA[uswitch]]></category>
		<category><![CDATA[utility bills]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/?p=293</guid>
		<description><![CDATA[
Only energyhelpline.com shows you all the suppliers and all their tariffs, meaning you get all the information you need to find the best possible deal. 
The results table will calculate how much you could be saving, and even includes a service rating for every company listed, so you’ll be well armed to find a new [...]]]></description>
			<content:encoded><![CDATA[<p><a target="_BLANK" href="http://www2.smart-quotes.com/click.asp?lnk=848&#038;ctc=2944&#038;src=2761&#038;cmpg=&#038;web=&#038;brn=2411&#038;s=N&#038;sn=Energy Helpline Ban 2"><img src="http://www.creatives.smart-quotes.com/images/energy-helpline/energy-ut-2_468x60.gif" width="468" height="60" border="0" title="Apply for Energy Helpline" alt="Apply for Energy Helpline"></a></p>
<p>Only <a href="http://www2.smart-quotes.com/click.asp?s=L&#038;sn=SQ10494&#038;ctc=2944&#038;src=2761&#038;lnk=848&#038;cmpg=&#038;web=&#038;brn=2411">energyhelpline.com</a> shows you all the suppliers and all their tariffs, meaning you get all the information you need to find the best possible deal. </p>
<p>The results table will calculate how much you could be saving, and even includes a service rating for every company listed, so you’ll be well armed to find a new supplier that offers a high standard of customer care.</p>
<p><a href="http://www2.smart-quotes.com/click.asp?s=L&#038;sn=SQ10494&#038;ctc=2944&#038;src=2761&#038;lnk=848&#038;cmpg=&#038;web=&#038;brn=2411">Switch and save today</a>!</p>
<p>Save up to £378 on gas and electricity for your home. Compare all UK suppliers to find your <a href="http://www2.smart-quotes.com/click.asp?s=L&#038;sn=SQ10494&#038;ctc=2944&#038;src=2761&#038;lnk=848&#038;cmpg=&#038;web=&#038;brn=2411">cheapest possible deal</a> and switch in minutes</p>
<p>What details do I need to switch my gas &#038; electricity?<br />
Most people can switch using just their postcode and a few basic details &#8211; such as how much they spend or how much energy they use (if you don’t have this information to hand you can still switch using our usage estimator).</p>
<p>Please note: if you&#8217;d like to switch to a direct debit tariff, you will need to fill out the DD form online with your bank details.  Rest assured our web pages are secure, and your details will be encrypted and held securely.</p>
<p>In a very small number of cases you may need to know your gas or electricity meter number, which you can find on an old bill or the meter itself.</p>
<p>Are there any hidden surcharges or costs in using energyhelpline.com?<br />
No, there are absolutely no hidden surcharges or costs.  We show you the best available rates from all suppliers in your area. You are then free to choose the one which is right for you.  Switching costs nothing, and will save you money on your energy bills.</p>
<p>How does the process for transferring suppliers work?<br />
Check against the suppliers and tariffs shown on the results table, and remember you can search by price, service rating and green credentials.</p>
<p>Once you have chosen a supplier, you provide us with the details to complete your switch application.  We&#8217;ll forward these details securely to your new supplier who will arrange the switch.  We&#8217;ll also send you an email confirming the details of the switch and a contact point for your new supplier.</p>
<p>Within a month you will be given a supply transfer date by your new supplier.  On this day you should take a meter reading and submit it to your new supplier.  They will contact your old provider so they can arrange a final bill and close your account.</p>
<p>Will there be any interruption to my supply?<br />
No, there will be no interruption whatsoever.  There is no need to change any meters, wires or pipes – your new supplier will use the same ones as your old one.  The only changes that you will notice will be a lower bill and / or improved customer service from your new supplier.</p>
<p>What are service ratings and how are they calculated?<br />
Our service ratings provide a guide to the level of service a supplier provides and are represented by an easy-to-understand star system:</p>
<p>    1 Star &#8211; Poor<br />
    2 Stars &#8211; Below Average<br />
    3 Stars &#8211; Average<br />
    4 Stars &#8211; Good<br />
    5 Stars &#8211; Very Good</p>
<p>Our ratings are calculated from complaint levels received by the independent market watchdog Consumer Focus, and also include call centre hours, availability of suppliers&#8217; internet services and special offers.  Deductions are made for recent fines from the energy regulator OFGEM.</p>
<p>Do I need to contact my old provider to switch to a new supplier?<br />
No, your new supplier will organise the entire switching process.  You should, however, ensure that your new supplier receives a final meter reading from you so that they can organise a bill and close your existing account.</p>
<p>If I want to switch to a Direct Debit tariff do I need to have my bank details?<br />
No, in some instances you can request a paper DD form which will be sent to you by your new supplier.  You can then fill out your bank details and return it to them in your own time.  We recommend that you complete Direct Debit forms on energyhelpline.com as it will save you time, and the details are received and held securely.</p>
<p>How does this free service make money, surely you never get something for nothing?<br />
All electricity and gas price comparison services receive a small commission from suppliers, for finding them a new customer.  We are governed and accredited by Consumer Focus&#8217; code of conduct for price comparison websites, which means our commercial relationships with suppliers bears no relationship to what you see on our results table.  We show all suppliers regardless of our relationship with them, and will show you the cheapest one for you.</p>
<p>I want to save as much money as possible, how should I go about it?<br />
Simple.  Find out what you currently pay for your gas and or electricity in a typical year and which tariff you are on with your current supplier.  Enter your details into the calculator and submit your search with the default settings.  Your cheapest supplier will be returned to you at the top of the results table.</p>
<p>I&#8217;m not sure who my current supplier is, how do I find out?<br />
Check any recent bills &#8211; your supplier’s name will be on there, probably at the top.  Otherwise, to find out who your current gas supplier is, you can contact the Meter Point Number Helpline on 0870 608 1524.  To find out who your current electricity supplier is, you can contact your landlord or letting agency or your regional electricity supplier eg. London Electricity &#8211; you can find their phone number in the phone book, on the web, or from directory enquiries.</p>
<p>I do not know what my current spend is, can I still use the calculator?<br />
Yes.  Use the High, Medium and Low usage levels on the input screen.  Your usage will roughly equate to the size of your property.  Small flats are generally low users, larger flats and houses medium users and large houses high users.  If you only use gas for cooking you should enter low user for gas.</p>
<p>What is a gas meter (or MPRN) number and how do I find it?<br />
Your MPRN (Meter Point Reference Number) is the unique identifying number of the Gas meter at your property.  It is a 10 digit number, sometimes referred to as an &#8220;M&#8221; number, and can be found on your gas bill (generally on the back of the bill).  If you can&#8217;t locate your MPRN on the back of your gas bill or on your meter, you can call the Meter Number Helpline on 0870 608 1524.  If you switch with energyhelpline.com, we have a system on the site which looks up your meter number automatically in most cases.</p>
<p>What is an electricity meter (or MPAN) number and how do I find it?<br />
Your MPAN is the unique identifying number of the Electricity meter at your property.  It is often referred to as a &#8220;Supply Number&#8221; or &#8220;S&#8221; number, and it can be found on your electricity bill (generally on the back of the bill).  If you can&#8217;t locate your number, you should contact your current electricity supplier. We have a system on the site which looks up your meter number automatically in most cases.</p>
]]></content:encoded>
			<wfw:commentRss>http://www.smartmoneycentre.co.uk/293/money-saving/switch-and-save-on-gas-and-electricity-bills/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Compare phone suppliers, choose your best option &amp; switch today</title>
		<link>http://www.smartmoneycentre.co.uk/289/money-saving/compare-phone-suppliers-choose-your-best-option-switch-today/</link>
		<comments>http://www.smartmoneycentre.co.uk/289/money-saving/compare-phone-suppliers-choose-your-best-option-switch-today/#comments</comments>
		<pubDate>Tue, 04 Aug 2009 08:47:21 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Money Saving]]></category>
		<category><![CDATA[bt]]></category>
		<category><![CDATA[compare phone suppliers]]></category>
		<category><![CDATA[move from bt]]></category>
		<category><![CDATA[save money on phone bills]]></category>
		<category><![CDATA[switch phone suppliers]]></category>
		<category><![CDATA[talk talk]]></category>
		<category><![CDATA[u switch]]></category>
		<category><![CDATA[uswitch]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/?p=289</guid>
		<description><![CDATA[
Save up to 50% on your home phone calls. Compare phone suppliers, choose your best option &#038; switch today with First Helpline.
When you are comparing home phone tariffs you need to bear in mind how often, where to and when you make your calls. So for instance some phone plans will include free evening and [...]]]></description>
			<content:encoded><![CDATA[<p><script language=\'javascript\' src=\'http://www2.smart-quotes.com/Creatives/DisplayImage.aspx?id=3106&#038;ctc=2944&#038;src=2761&#038;cmpg=&#038;web=&#038;brn=2411&#038;type=js\'></script><br />
Save up to 50% on your home phone calls. <a href="http://www2.smart-quotes.com/click.asp?s=L&#038;sn=SQ10509&#038;ctc=2944&#038;src=2761&#038;lnk=863&#038;cmpg=&#038;web=&#038;brn=2411">Compare phone suppliers</a>, choose your best option &#038; switch today with First Helpline.</p>
<p>When you are comparing home phone tariffs you need to bear in mind how often, where to and when you make your calls. So for instance some phone plans will include free evening and weekend calls to UK landlines, others will include free international calls &#8211; useful for calling relatives in Australia &#8211; Some plans have no monthly fee and even no minimum call charges</p>
]]></content:encoded>
			<wfw:commentRss>http://www.smartmoneycentre.co.uk/289/money-saving/compare-phone-suppliers-choose-your-best-option-switch-today/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The end of final-salary pensions?</title>
		<link>http://www.smartmoneycentre.co.uk/199/pensions/the-end-of-final-salary-pensions/</link>
		<comments>http://www.smartmoneycentre.co.uk/199/pensions/the-end-of-final-salary-pensions/#comments</comments>
		<pubDate>Mon, 11 May 2009 19:31:05 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Pensions]]></category>
		<category><![CDATA[company pension]]></category>
		<category><![CDATA[final salary]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/?p=199</guid>
		<description><![CDATA[2009 will see a number of large organisations making a fundamental change to their company pensions &#8211; cancelling final salary schemes for existing members.
If you are one of the lucky few still in a final-salary, defined benefit (DB), plan, you need to know what this will mean for you and your plans for retirement.
Closing a [...]]]></description>
			<content:encoded><![CDATA[<p><strong>2009 will see a number of large organisations making a fundamental change to their company pensions &#8211; cancelling final salary schemes for existing members.</strong></p>
<p>If you are one of the lucky few still in a final-salary, defined benefit (DB), plan, you need to know what this will mean for you and your plans for retirement.</p>
<p>Closing a scheme to current members is a big step for employers.</p>
<p>Many smaller companies have already done this.</p>
<p>So far, larger ones have typically made modifications to their DB scheme, and probably stopped people joining it some years ago.</p>
<p>But cancelling the ability of existing members to accrue more pension, by stopping them paying in any more money, is new for most large organisations.</p>
<p><strong>Looming on the horizon</strong></p>
<p>Two big employers, the Royal Mail and BT, have changed their final-salary schemes for existing staff to a half-way house, known as a career average scheme.</p>
<p>And three years ago the pest control business Rentokil became the most high-profile employer to move all its staff into the standard alternative known as a defined contribution (DC) scheme, which pays money which individuals have to invest in order get a pension.</p>
<p>But once more major companies do this, others may follow relatively quickly.</p>
<p>The main reason they may choose this path is that they see promising a pension for life as too risky and very expensive.</p>
<p>The financial crisis has squeezed company finances, as well as making pensions deficits worse.</p>
<p>Towers Perrin found in March that pension fund liabilities account for nearly 35% of FTSE 100 companies&#8217; value on the stock market.</p>
<p>Companies want to focus on fixing their current deficit problems, stop the build-up of any further DB pension entitlements or deficits, and get all employees on to the same type of pension plan.</p>
<p>Also, cutting back on pensions may save jobs.</p>
<p>Consultation </p>
<p>If your employer announces this sort of change, it is very likely that you will be offered a DC scheme for the future instead. </p>
<p>You will still have the DB pension you have built up, but no more pension will be added. </p>
<p>A DC pension fund is like a long-term savings account where what you get out will depend on how much you and the employer pay in, and how well the investments perform. </p>
<p>There is no guarantee related to how long you have been employed or the level of your final salary. </p>
<p>The first thing you will hear is an announcement that a consultation will be held, where the company will ask your views. </p>
<p>This is your opportunity to raise your voice. </p>
<p>You may well find that there is a group of people nominated to collect your opinions and who will seek to influence the company and get the best deal they can. </p>
<p>And if there is a trade union it will certainly be involved. </p>
<p>Is there anything you can do? </p>
<p>If the company has a good case for making the change then there are unlikely to be major modifications &#8211; but do not assume you can ignore the consultation. </p>
<p>Changes will have their biggest effect on young employees<br />
The best approach is to work out how the change will affect you and what decisions you will have to make. </p>
<p>Moving into a DC world means that you are going to have to change your mindset. </p>
<p>In your old DB scheme you did not need to pay much attention to it, but in a DC plan you will have choices about how your money is invested, and how much you save. </p>
<p>If you do not get involved with your DC pension, you will end up in the default investment fund which could be either too risky or too safe for your circumstances. </p>
<p>Understand the offer </p>
<p>The first step then is to read and digest all the available information. </p>
<p>Go to the presentations, read the materials, use any interactive models and ask questions. </p>
<p>Look out in the consultation literature for any tips about how you can tell what level of risk is right for you. </p>
<p>Also, make sure you do not miss out on top-up company contributions. </p>
<p>Often, if you pay in extra to your pension the company will pay extra too. </p>
<p>Think about your wider saving plans, any other pension plans you have and whether you are relying on non-pension savings, even your house, to help fund your retirement. </p>
<p>In some instances, you may be able to choose between accepting the move to DC or staying within the DB scheme but having to pay more into it. </p>
<p>It may even mean that you get lower salary growth. </p>
<p>If this is the case, make sure you understand both options and what they would mean for you. </p>
<p>Advice </p>
<p>Where employees have to make choices like these, some companies will provide access to personalised modellers or advice. </p>
<p>It is almost certain you will have to save more yourself </p>
<p>Whatever change is proposed, it is almost certain you will have to save more yourself if you want to have the same expected retirement income. </p>
<p>It does not mean you have to save more. </p>
<p>You might conclude that overall you are still on target to have enough income in retirement or that you will have to put back your planned retirement date. </p>
<p>But it will be up to you to work this out for yourself using the information provided by your employer, or to seek independent advice. </p>
<p>And finally, once you have a DC pension, set aside some time on regular basis to check that it is still on track to deliver what you need. </p>
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		<title>Company pensions &#8220;not affected&#8221;</title>
		<link>http://www.smartmoneycentre.co.uk/195/pensions/company-pensions-not-affected/</link>
		<comments>http://www.smartmoneycentre.co.uk/195/pensions/company-pensions-not-affected/#comments</comments>
		<pubDate>Mon, 11 May 2009 19:27:16 +0000</pubDate>
		<dc:creator>Smart Money Centre</dc:creator>
				<category><![CDATA[Pensions]]></category>

		<guid isPermaLink="false">http://www.smartmoneycentre.co.uk/?p=195</guid>
		<description><![CDATA[Eight out of 10 companies do not plan to change their pension scheme when the Government&#8217;s new personal accounts are launched, research has shown.
Around 80% of employers said they would keep their existing pension arrangements in place when the low-cost accounts are introduced in 2012, with just 2% of firms saying they would offer only [...]]]></description>
			<content:encoded><![CDATA[<p>Eight out of 10 companies do not plan to change their pension scheme when the Government&#8217;s new personal accounts are launched, research has shown.</p>
<p>Around 80% of employers said they would keep their existing pension arrangements in place when the low-cost accounts are introduced in 2012, with just 2% of firms saying they would offer only the new accounts to their staff, according to Punter Southall Financial Management.</p>
<p>The research goes some way towards allaying fears that companies will down-grade their pensions to the minimum level required by the new legislation.</p>
<p>Personal accounts are being launched to coincide with new rules that come into force in 2012, under which workers will automatically be enrolled into a workplace pension scheme, although they will retain the right to opt out.</p>
<p>Individuals will have to have at least 8% of their annual salary paid into a pension, typically made up of employer contributions of 3%, with workers paying in 4% and the Government adding 1%.</p>
<p>The survey, which was based on responses from 300 companies, also found that only 5% of firms now have a final salary pension scheme which is still open to new members, with other companies offering defined contribution schemes, in which employees shoulder all the risk, instead.</p>
<p>Just under half of pension schemes have been reviewed during the past 12 months, but 14% had not been reviewed for at least five years.</p>
<p>The research also found that the majority of workers are opting for the default investment fund offered by defined contribution schemes, rather than picking one for themselves.</p>
<p>Six out of 10 companies said they thought they had a responsibility towards financially educating their staff, but 57% admitted they did not promote their pension to workers who had not joined it.</p>
<p>The Personal Accounts Delivery Authority, overseeing the introduction of the accounts, said: &#8220;Our target market is people on low to middle incomes, many of whom currently do not have access to a workplace pension. We don&#8217;t expect huge numbers of companies with existing provision to use us across their workforce &#8211; we are designed to complement existing provision.&#8221;</p>
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