Number of pensioner millionaires grows

Over 1 million UK pensioner households have total wealth of more than £1 million.

Based on official figures for 2010-2012, the number of over-65 millionaires increased 69% compared to 2006-2008 when the number stood at around 636,000: meaning that 11% of pensioner households now have total wealth of more than £1 million.

The rising number of pensioner millionaires is being driven by pension assets, savings and investments, and property. The figures show:
• the value of private pension assets increased from £60,000 in 2006-2008, to £82,000 in 2010-2012
• the number of retirees with a private pension increased from 73% in 2006-2008 to 76% in 2010-2012
• 19% of pensioner households now have savings and investments worth more than £100,000, a 15% rise from 2006-2008
• the average property value for retired couples is £210,000, compared to £200,000 in 2006-2008

Research also finds that 12% of over-65 households have assets worth less than £40,000 and 1 in 8 have net savings and investments worth less than £500.

Are you prepared for your retirement?

To discuss your pension plan, please call Mike Bates on (024) 7638 8911.

Retirement Road Sign with blue sky and clouds.

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UK unemployment falls to six year low of 2.12m

UK unemployment fell by 121,000 to 2.12 million in the three months to May, the lowest level in nearly six years, official figures from the Office for National Statistics (ONS) show.

The rate of unemployment had dropped to 6.5% from 6.6% in the three months to April.

The number of people claiming jobseeker’s allowance last month fell by 36,300 to 1.04 million and the latest figures show that more than 78% of men and 68% of women are in work, giving an employment rate of 73.1%.

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Golden Ticket Draw

The Golden Ticket is returning this season to Nuneaton Town Football Club.

photo 1

The prizes include:

  • A great opportunity to win £30,000 in Stadium naming rights & a package of branding material
  • Prime position double branded pitch-side board, valued at £1,000
  • Match ball sponsorship package which is hospitality for six people valued at £350
  • You can purchase your Golden Ticket for only £250!

    With every ticket purchased it entitles the holder to the choice of either a 10 match admission ticket for league games or a boardroom match day hospitality experience for three people in the SFB Boardroom.

    The draw takes place on Thursday 17th July at 8pm in the SFB boardroom. Don’t miss this Golden opportunity.

    To purchase your ticket please contact use on 02476 385738 or

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    We have moved!


    SFB are pleased to announce the relocation of our head office to new premises in Nuneaton. We have moved from Manor Court Road to Townsend Drive on Attleborough Fields Industrial Estate.

    With its enhanced meeting facilities and a large car park, it is the perfect location for providing exceptional service to our clients and business associates.

    Our offices in Hinckley and Coventry have not changed. We are always happy to meet at whichever location is most convenient to you.

    The last of our team are moving over to the new office today and Monday. During this time please accept our apologies if it takes a little longer than usual to respond to your email or telephone call.

    We have fond memories of our time at Manor Court Road, but the move is the start of an exciting new chapter for SFB!

    The SFB Team

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    Saving for retirement at a 5 year high

    53% of people are now saving adequately for retirement, according to a survey by Scottish Widows.

    Compared with 2013 this is an 8% increase and is the highest level since 2009. It is also the biggest ever year-on-year increase.

    Retirement Road Sign with blue sky and clouds.

    Adequate saving is defined by Scottish Widows as 12% of income or expecting your main retirement income to come from a defined benefits pension.

    The amount people are saving outside a pension has risen to an average of £130 a month in 2014 – an increase of 141% over the last 8 years.

    The total amount people have in savings and investments averages £40,000 per person, the highest ever amount.

    The key findings from Scottish Widows report were:
    • 59% of people do not plan to save in the next 12 months, down from 68% in 2013
    • 37% of respondents said they were optimistic about their long-term finances in 2014, up from 32% in 2013
    • 33% said they do not know how much their pensions, savings and investments will contribute to their retirement income
    • 32% do not believe that they will be better prepared for retirement than their parents were.

    If you would like to discuss your retirement plan, please call Mike Bates on (024) 7638 8911 or email

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    Funding boost for UK manufacturing

    Business Secretary Vince Cable has announced the government has committed an extra £100 million worth of funding to a scheme designed to boost manufacturing in the UK.

    The additional funding will go to the Advanced Manufacturing Supply Chain Initiative (AMSCI), which aims to help UK supply chains achieve world-class standards and encourage major new suppliers to locate in the UK.

    Businesses can apply for AMSCI funding to support:
    • research and development
    • capital investment
    • skills training

    So far the scheme has already secured over £500 million worth of public-private investment in more than 40 projects involving 180 businesses.

    SFB Managing Director Paul Carvell said: “This is a fantastic boost for British manufacturing and it will have a positive impact on the wider economy.”

    For help finding and applying for Government funding for your business, please contact SFB on (024) 7638 4171 or by emailing

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    Minimum wage underpayers ‘named and shamed’ by Government

    The Government has released a list of 25 employers who failed to pay their workers the minimum wage.

    Under rules that came into effect last October, they are the latest offenders to be “named and shamed”.

    Between these 25 employers they owe over £43,000 to staff and have been ordered to pay fines amounting to more than £21,000.

    Business minister Jenny Willott said: “If employers break the law they need to know they will face tough consequences.”

    The national minimum wage is currently £6.31 an hour for adults and will rise to £6.50 from October.

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