Uncategorized – Page 296 – The NEN

Pensions: millions to benefit from impartial advice

Millions of people will benefit from a right to free and impartial guidance on how to make the most of the new pensions choices that come into effect in April 2015, Chancellor of the Exchequer George Osborne announced today. This follows the Westminster government’s consultation on how best to deliver the radical changes to how people access their pensions announced at the Budget.

In total 18 million people will be able to benefit from the changes to pensions should they wish to do so.

From April 2015 300,000 individuals a year with defined contribution pension savings will be able to access them as they wish when they turn 55 – subject to their marginal rate of tax.

This is the biggest change to how people access their pensions in almost a century, removing the effective requirement for many to purchase an annuity.

The consultation since the Budget has shown that these changes have been overwhelmingly well received, with individuals supporting greater freedom and choice, and the pensions and insurance industry ready for the challenge of creating new, flexible products, which better suit individuals’ needs.

The government’s response to the consultation today confirmed that:

the guaranteed guidance on pensions choices will be provided by independent organisations rather than pensions schemes or providers
even more people will be able to benefit from the new pensions flexibilities as the government will continue to allow individuals to transfer from private sector defined benefit schemes to defined contribution pension schemes – subject to two important new safeguards
a new override will be introduced so that pensions schemes are able to offer individuals flexible access to their savings and the pensions tax rules will be amended to allow providers to develop new retirement income products that are tailored to the needs of individual consumers

Chancellor of the Exchequer, George Osborne, said: “It’s right to support hard working people that have taken the long-term decision to save for their future and I’m pleased that the responses we had to our proposals on making pensions more flexible have been overwhelmingly positive.

“We’re making sure that people have the right support to make their own choice about how best to finance their retirement and I’m pleased to confirm that everyone with defined contribution pension savings reaching pension age will get free and impartial guidance on their range of available choices at retirement.”

The government wants to ensure that guidance is trusted by consumers, and the vast majority, including most of the financial services industry who responded, said that consumers would not trust guidance given by a person or organisation with a vested interest in selling a financial product or service. It will bring together a range of delivery partners, including the Pensions Advisory Service (TPAS) and the Money Advice Service (MAS), which already provide guidance and support to consumers.

People with private sector defined benefit savings will continue to be able to transfer to defined contribution schemes (excluding pensions that are already in payment), alongside two new safeguards to protect both pension schemes and the individuals transferring out.

Guidance will be offered through a broad range of channels, including web-based, phone-based as well as face-to-face, and to remain free to the consumer will be funded by a levy on regulated financial services firms.

The Financial Conduct Authority (FCA) have also today published a paper which consults on the elements of the guidance guarantee for which the FCA will be responsible: setting and monitoring the standards with which guidance providers will have to comply, making and enforcing rules on how contract-based schemes signpost to the guidance services, and adjusting the FCA’s existing conduct rules to support the introduction of the guidance guarantee and in response to the new flexibilities.

Two new safeguards are being introduced to protect both individuals and pension schemes in relation to defined benefit to defined contribution transfers: a new requirement for an individual to take advice from an impartial financial adviser regulated by the FCA before a transfer can be accepted; and, new guidance for trustees on the use of their existing powers to delay transfer payments and take account of scheme funding levels when deciding on transfer values.

HM Treasury also published the following guide today:

Pension Reforms: Eight things you should know

Understanding the pension system can be complex sometimes. We’ve explained how the new system will work and what it means for you.

1. We’re completely overhauling the system so you can take your pension how you like

In order to create greater choice and flexibility for people who have saved hard for their pension, we announced at Budget 2014 a series of changes to how people access their pension.

From April 2015, no matter how much you decide to take out from your pension after retirement, you will be charged the normal rate of income tax you pay on your salary (so either 0%, 20%, 40% or 45%) rather than the previous tax charge of 55% for full withdrawal.

2. 25% of your pension pot will remain completely tax-free, as it was before

You’ll be able to access 25% of your pot in one go without paying any tax.

3. We previously announced this would apply just to people with ‘defined contribution’ pensions

This is a type of pension also known as a ‘money purchase’ scheme.

This is when the money you and your employer pay in is invested by a pension provider chosen by your employers. The amount you get when you retire usually depends on how much has been paid in and how well the investment has done.

4. We’ve now announced that people who have a ‘defined benefit’ scheme will benefit too

A ‘defined benefit’ pension is typically a promise of a certain level of pension in retirement which is linked to your salary.

We’ve now announced that people in the private sector or in a funded public sector scheme will still be able to transfer from a defined benefit pension scheme to a defined contribution one if they want to, meaning they can benefit from the changes.

This means that around 18 million people will ultimately be able to withdraw their pension flexibly should they wish to do so.

5. Everyone who will be able to take advantage of the new reforms will be able to access free and impartial guidance

This will help people make confident and informed choices on how they put their pension savings to best use.

This guidance will be available through a number of different channels – via an online tool, over the phone, or face to face. Individuals will be able to choose the channel, or mix of channels, that they find most convenient.

It will be entirely impartial, so won’t be given by anyone who could be trying to sell you a product.

6. Your pension provider or scheme will be required to tell you about the guidance and how to access it

Accessing the guidance will be arranged by your pension provider, who will be required to tell you about it.

7. The changes will come into effect from April 2015

If you are over the age of 55, or will be from April 2015, you will be able to take advantage of the new system from then.

If you’re younger than 55 then you will be able to take advantage of the new system when you do reach 55.

8. You don’t need to do anything until then

If you’re thinking about retiring soon, you don’t need to do anything in the meantime, but we’ve also made other changes to help you save until then, such as our reforms to ISAs.

You can find more information about the pension reforms by reading our factsheet we published at Budget explaining the differences between the new changes and the old system, or more details on our response to the consultation.

Dearest Scotland …

Writing initiative ‘re-imagines the future of Scotland’

Take a pen and a piece of paper and write a letter to the future of Scotland? In this age of high-tech, super-fast digital communications it may seem like a very old-fashioned way to communicate, but a new writing project called Dearest Scotland has sparked a revival in letter writing.

The apolitical initiative has caught imaginations in the year of the Referendum by inviting letters and illustrations from people of all ages across the world with a connection to, or an interest in, Scotland.

Dearest Scotland is the brainchild of Glasgow-based social design agency SNOOK, who some readers may recall worked with Total Craigroyston and North Edinburgh Young People’s Forum on the ‘What’s the Matter?’ project in 2012.

Focused on crowd-sourcing from a widest possible demographic with the aim of giving a platform to citizens’ voices, Dearest Scotland’s co-founder, Sarah Drummond, recently spoke of the aspiration to receive handwritten letters that capture insights to what a future Scotland may look like.

Sarah said: “Our team at Snook work in grassroots communities and we hear great ideas everyday from ordinary people. Sadly there is no platform for these voices to be heard in the mainstream media, by governments or local authorities. Dearest Scotland aims to address that.”

The idea originated before the independence referendum was announced, and since it’s March launch Dearest Scotland has received a cross-section of letters keen to articulate visions that reach beyond the political debate of the 18 September vote.

And while the project proves that the art of letter writing isn’t dead, the choice to write and illustrate letters digitally via the Dearest Scotland website is also available!

Sarah also spoke of plans to publish received letters in a collated book format. She said: “Everyone who writes to Dearest Scotland has the chance to see their letter published. This allows for the opportunity to read what people of all ages from every part of the country have to say about their hopes and fears for a future Scotland both in connection to and outside of politics and the referendum.”

While new letters are catalogued daily, Sarah’s aim is to publish the visions in an open source digital catalogue – in addition to the book format – after the 13 September deadline for submissions, and all proceeds will be donated to new and existing Scottish literary projects.

The Dearest Scotland team is currently touring venues and events across the country, spreading the word in towns and rural areas.

The initiative has also caught the attention of politicians. Glasgow Anniesland MSP Bill Kidd lodged a parliamentary motion in support of the project in June, and a Holyrood debate has been scheduled for 13 August – the motion has received cross-party support from a further 25 members of the Scottish parliament. There are also plans to exhibit a display of letters by the Scottish Rural Parliament in November and within Holyrood in early 2015.

Sarah’s business partner and project co-founder, Lauren Currie, added: “We all have a box of letters stashed away somewhere that fill our hearts with joy every time we dig them out and re-read them. Dearest Scotland is our nation’s box of letters. These letters are so much more than communication, they are re-imagining the future of Scotland.”

To find out more information about Dearest Scotland’s project, summer tour, or to submit a future vision of Scotland, visit…

www.dearestscotland.com

twitter @dearestscotand

facebook /dearestscotland

Orchestra to bring world music message to Edinburgh

The best in classical music returns to Edinburgh this month. The Chamber Philharmonia Cologne will perform Vivaldi’s Four Seasons, Mozart and Tchaikovsky in the wonderful setting of St Mary’s Cathedral, Palmerston Place on Tuesday 29 July at 7.30pm …

6-Edinburgh

After successful European tours in 2013 the Chamber Philharmonia Cologne (Germany) is coming back to Edinburgh this summer with a powerful and lovely new programme.

“Classical music the world over” – this is the motto of the Chamber Philharmonia Cologne. It is irrelevant for our musicians whether they are playing in a little village church, in the open air, in Cologne Cathedral or in the Sydney Opera House – their enthusiasm to play music is the same every time.

The objective is simple – we want to inspire as many people as possible across all generations to enjoy classical music. The popularity of our ensemble is reflected in the fact that the Chamber Philharmonia Cologne gives around 300 concerts a year around the globe and listeners throughout the world look forward to a musical encounter with our exceptionally talented musicians.

The Chamber Philharmonia Cologne was founded in the city whose name they bear: Cologne. The city that is famous throughout the world for its University of Music and its musical and instrumental teaching. Generations of musicians have been trained here for many decades who, in terms of their musicality, are unparalleled around the world. Taking advantage of this pool of talent, a stock of outstanding musicians has accrued that in a changing cast of musicians take our motto across the world.

Since November 2009, the Chamber Philharmonia Cologne has a very special partner at their side – the Mercedes-Benz Centre in Cologne. As part of a creative cooperation, this world renowned company, via its branch in Cologne, thrilled by our musical concept provides the Chamber Philharmonia Cologne with a comfortable tour bus. It enables our musicians to travel quickly and comfortably to the many varied concert locations. In return, the Chamber Philharmonia Cologne, in close cooperation with the Mercedes-Benz Center Cologne, organises special concerts for the car company’s special customers. The remarkable construction of the Mercedes-Benz Center is transformed in the process into a really top-class concert palace. This results in the smell of new cars mixing with the sounds of classical music.

The Chamber Philharmonia Cologne is at home all over the world. Our tours regularly take us to New Zealand, Australia, Spain, Great Britain, Ireland and many other countries – and of course to Germany. In this context, the selection of works and soloists takes on a special significance. The multifaceted composition of the ensemble provides every member of the Chamber Philharmonia Cologne with the opportunity to perform as a soloist.

The permanently expanding repertoire of the Chamber Philharmonia Cologne consists primarily of hand-picked pieces. The real appeal of our programme lies in the meeting of popular and unknown works from a wide variety of musical epochs. This sees familiar greats like Wolfgang Amadeus Mozart and Antonio Vivaldi in dialogue with works from people such as Sergei Prokofieff through to the “King of Tango” Astor Piazzolla. This mix promises great diversity of the very highest order, without us having to preach to the audience in the process. After all, music is for entertainment and not for instruction!

To inspire people across the world to enjoy classical music – that’s what we view as our maxim!

Quite simply: Classical music the world over!

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Chamber Philharmonia Cologne 2014

Sixty new jobs at Scottish Gas in Granton

At least sixty new jobs will be created at Scottish Gas HQ on Granton’s waterfront, it has been announced. Parent company Centrica plans to create 300 jobs at contact centres across the UK.

The majority of the new posts will be created in Cardiff and Edinburgh,with the remainder going to Uddingston, Leeds, Leicester, Manchester, Oldbury and Stockport.

The jobs come on top of 300 similar jobs recently filled. At least twelve school-leavers will be among the new recruits, as part of British Gas’ commitment to tackle youth unemployment.

Kevin Roxburgh, Director of Customer Services at British Gas, explained: “These extra 300 jobs show our continued focus on customer service excellence. We’re looking for people who are committed to helping customers, to join the 28,000-strong team at British Gas.

“These front line roles are critical to delivering the service our customers expect, helping customers with everything from bills and boiler breakdowns, to engineer visits and energy efficiency.

“Our contact centres are vital to the running of our company. They’re the main point where we’re in touch directly with customers, so it’s important we get it right.

“We’ll be ensuring customers get a swift response and resolution to their queries, by ensuring the right people are always on hand with the knowledge and expertise to help.”

Mr Roxburgh added that all new employees will undertake a comprehensive training period where they will be given the knowledge and expertise to deliver excellent customer experience.

Bye, bye red box; hello, wee grey wheelie bin

Cllr Lesley Hinds: ‘simplifying the recycling process is essential’

More than 140,000 city residents will receive a new recycling service this autumn, and the first of the households affected – including neighbourhoods across North Edinburgh – will receive letters explaining the changes later this month.

The new service will be rolled out in phases, with the first stage beginning on 1 September when approximately 20,000 households will have their red boxes replaced by a new wheelie bin.

Houses affected by the first phase of changes – in Alnwickhill, Blackhall, Burdiehouse, Cleikimin, Craigentinny, Craigleith, Drylaw, Gilmerton, Goldenacre, Hyvot Bank, Joppa, Kaimes, Leith, Liberton, Lochend, Muirhouse, Niddrie, Orchard Brae, Piershill, Prestonfield, Restalrig , Southhouse, The Inch, Trinity, Wardie, Warriston and Willowbrae – will begin to receive information from mid-July, letting them know that their recycling bins and collections will be changing along with additional information on the update.

The new, slightly smaller, wheelie bin will be used for general waste and the ‘old’ standard green wheelie bin for mixed recycling. Blue boxes will still to be used for glass, food and garden recycling will continue as normal and the red box will no longer be needed.

The new arrangements will be:

Food waste: existing small grey bins, collected weekly (no change)
Garden waste: existing brown bin, collected fortnightly (no change)
General waste: new 140-litre grey wheelie bin, collected fortnightly
Glass recycling: existing blue box, collected fortnightly (no change)
Mixed recycling: existing 240 litre green wheelie bin, collected fortnightly.

A full scale communications and engagement campaign will also help residents adjust to the roll-out, with information packs, collection calendars and details delivered to households and posters, web and social media updates spreading the message more widely, along with a series of informative events throughout the city.

Environment Convener, Councillor Lesley Hinds said: “We know that this new recycling service can work, as we have seen in other local authorities, and I am confident that the general public want to help us to boost recycling rates as landfill costs continue to increase.

“We will make every effort to help people adjust to the changes, engaging with communities, visiting homes, providing advice and monitoring to find out which households need most support.

“Recycling is something that everyone needs to embrace if Edinburgh is to become a sustainable city, and expanding capacity and simplifying the process for residents is essential for this.”

Councillor Adam McVey, Environment Vice Convener, added: “To meet our targets we need to see a culture-change – we want to help residents get used to the new service but the public have to take responsibility too.

“Edinburgh can and should lead the way to creating a greener Scotland, and by recycling more and sending less to landfill we can achieve this.”

Edinburgh currently recycles almost 40% of its waste but needs to continue to improve if it is to meet a target of 70% by 2025.

Not only does recycling benefit the environment but by upping rates the Council can save on the millions of pounds of taxpayers money paid each year in landfill costs.

An analysis of general waste in Edinburgh, carried out in 2010, found that more than two thirds of people’s bin contents could be recycled.

Now, by increasing capacity for recycling, simplifying the system and accepting more materials, it is hoped the new kerbside recycling service will encourage more households to recycle and sort their waste, helping to save on landfill costs and paving the way for a greener city.

This approach follows a number of other councils, including Falkirk and Fife, who have made the move to increase recycling capacity for residents.

By rolling the changes out in phases, the Council aims to learn as it progresses, helping residents to adjust to the new service by offering advice and support throughout the process.

However, not all streets will receive a new service – those who are included will receive a letter informing them this month.

Leith birthday celebration to make a splash

Fishkeeper to celebrate their successful second year in Edinburgh

Fishkeeper Scotland by Maidenhead Aquatics are celebrating the second anniversary of their popular Edinburgh store with a weekend of activities, giveaways, competitions, prizes and unrepeatable special offers on Saturday 2 and Sunday 3 August. There will also be a raffle draw in aid of charity, and the birthday event is sure to appeal to fishkeepers in the region.

Maidenhead Aquatics is the UK’s leading specialist aquatics retailer offering everything for the fishkeeper. Established in 1984 with over 100 outlets across the UK they opened their first Scottish store Fishkeeper Glasgow in 2010, which has already netted several awards including “Best Aquatics Shop in Scotland”. More recently this was followed by the opening of Fishkeeper Edinburgh in August 2012 and Fishkeeper
Inverness in July 2013.

Fishkeeper Edinburgh have also gained their own accolades including “Runner up
Discus Retailer of the Year” and “Runner up Best Aquatics Shop in Scotland” ( only surpassed by their sister shop in Glasgow !)

Fishkeeper Edinburgh stocks everything for the Scottish fishkeeper with a particular focus on tropical freshwater and marine aquariums and livestock, as well as equipment for the pond and watergarden.

Maidenhead Aquatics partner Colin Christian said “We are excited to celebrate our second birthday and want to give something back to the customers that have supported us so strongly over the past year whilst raising well needed funds for charity at the same time. As well as some great special offers and giveaways, as always there will be activities for junior fishkeepers and plenty of cake and balloons to take away!”

Fishkeeper Edinburgh is open seven days a week and located within Leith Mills (James Pringle Clearance Outlet) on Bangor Road, Leith, in Edinburgh.

Go on, dive in!
www.fishkeeper.co.uk

Big jumpers at Sainsburys!

Long jumpers of all ages and abilities took part in Sainsbury’s Big Jump event at their Blackhall store yesterday.

The event was organised to promote next weekend’s Sainsbury’s Glasgow Grand Prix athletics event.

Table sale at West Pilton tomorrow

West Pilton Neighbourhood Centre are holding a summer tabletop sale with cafe and entertainment tomorrow (Friday) from midday to 3.30pm.

All welcome!

Table Sale July 2014

Edible Edinburgh food plan served up in Muirhouse

Local growers, food groups, community gardeners and volunteers fashioned up a feast to celebrate the unveiling of the Edible Edinburgh Sustainable Food City Plan at Muirhouse Community Shop on Pennywell Road yesterday.

Developed in consultation with the public, the food plan aims to motivate Edinburgh to develop a healthy and sustainable approach to food, one which will bring social, economic and environmental benefits to the whole community – latest figures show that over two thirds of people across the Lothians eat less than the recommended five portions of fruit and veg a day.

The six-year plan is based on feedback from the public and outlines six distinct themes which need to be addressed in order to achieve its vision of Edinburgh as a sustainable food city. These are: Health and wellbeing, Land use, Environment, Buying food, Economy and Cultural change.

A series of actions have been set out within each theme in order to work towards key outcomes, including more fresh and healthy food eaten, fewer people living in food poverty, the protection of our natural environment and a thriving local food economy.

Efforts will be coordinated by Edible Edinburgh, a cross-sector steering group from the public, private and third sectors, including City of Edinburgh Council and NHS Lothian.

City of Edinburgh Council’s Environment Convener, Councillor Lesley Hinds, who chairs the Edible Edinburgh steering group, welcomed the launch of the plan.

She said: “We are proud to be launching this plan in collaboration with our partners, who have worked with the public to ensure our vision and targets are realistic and relevant for achieving a sustainable food city for all.

“Food is central for everyone in Edinburgh, and there are a great many groups who work tirelessly towards a greener, fairer and healthier city. By building on their efforts we are determined to expand this enthusiasm to residents across the capital.”

Dr Margaret Douglas, consultant in public health medicine with NHS Lothian, added: “Edible Edinburgh’s vision is of ‘a city where good food is available for all.’ Healthy affordable food is essential for good health but for too many this is not yet a reality. Projects like Pilton Community Gardeners are showing the way by involving local people in growing healthy food and improving the local environment.

“We need change at many levels if the causes of diet-related ill health are to be tackled. Partnerships like Edible Edinburgh can help coordinate public, private, voluntary and community sector action to push for a fairer food city.”

Iain Stewart, Chief Executive of Edinburgh Community Food, said: “Community food groups play a vital role in addressing inequalities by getting local people involved in making good food available locally. At Edinburgh Community Food we support this effort by providing food and health promotion sessions and supplying food projects throughout the city with a range of healthy affordable food products.”