Tag Archives: skipton building society

“Your boss doesn’t care about your retirement!” says retirement savings provider

Almost one third of British workers receive NOTHING from their bosses when they decide to retire

Almost a third of British workers don’t receive a single present from their bosses when they retire, according to new research.

A study of 2,000 retirees revealed that 31 per cent of people were not given a leaving gift. Another seven per cent did slightly better – at least they got a ‘sorry you’re leaving’ card.

The average retirement gift is worth just £2.17 for every year of work, according to the survey by Skipton Building Society.

Source: Daily Mail, 24th August 2015

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Our retirements won’t be all we hoped, according to this survey, and we’ll be discarded by our bosses like we’re yesterday’s news, according to Skipton Building Society:

Rebecca Willey, of the Skipton Building Society, said: ‘After years of working, particularly if you have done a long term with the same company, most would expect a nice gift, or something special to wave them off into their retirement.

‘But in reality, it seems that the gift you receive is nothing compared to the time and effort you have put into working over the years…

‘At Skipton, we believe everyone should be able to look forward to retirement. Leaving work behind after so many years can be an exciting and daunting experience.’

But why would they want us to contemplate this harsh vision of the future? Might it perhaps have something to do with their retirement planning services?

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“Retirement can be dull – unless you’ve saved up enough to enjoy it!” says building society

“Grandparents work hard!” says building society pandering to grandparents

Grandparents are brilliant, aren’t they? All woolen blankets, Werther’s Originals, purple rinse, old-timey wisdom, spirit of the blitz and all of those other warm, fuzzy clichés. Where would we be without them? You can’t put a price on the love and support a good, solid grandparent can give you. 

Or, rather, you absolutely can put a price on it, provided that you’re making that price up in order to get press coverage.

The £21,000 grandma: Grandparents who take on babysitting duties reduce the cost of childcare by a whopping £4,300 EVERY YEAR

They’re the unpaid babysitters that many parents couldn’t manage without. And now, their true value can be revealed as a new report has calculated exactly what grandparents are worth.

Thanks to long hours spent watching the grandchildren while their parents are at work, kindhearted grandparents can save families up to £4,300 annually – money that would otherwise have to have spent on professional childcare.

By the time the average youngster reaches school age, they will have been babysat by their grandparents for more than 5,610 hours, meaning their parents will have saved a whopping £21,654.60.

Source: Daily Mail, 18 January 2013

There we have it – your dear old grandma is worth about the same as a brand new Vauxhall Zafira, give or take. It’s not clear whether gran will depreciate in value quite as quickly, but then again that wasn’t really the point of the article.

The actual point of the article can be found when taking a quick peek at the originators of the survey:

Stacey Stothard, of Skipton Building Society, said: ‘As this study clearly indicates, modern day grandparents are an absolute god-send for working mums and dads…

‘Grandparents who look after their grandchildren in the family home are even on hand to help with the running of the home – helping to do household chores, as well as being in to sign for parcel deliveries and pay the window cleaner or milkman.

‘But with this flexibility and financial benefit for parents sometimes comes a feeling of obligation for grandparents.

The ‘research’ was paid for by Skipton Building Society, in order to promote their ‘Granny Economy’ campaign:

The campaign was created by their PR agency Band & Brown Communications, who commissioned the research through OnePoll (picked up by the Daily Mail with 71% of the copy used verbatim):

So what’s the real underlying point behind this story, other than pandering to the grey pound?

Jennifer Holloway, head of media relations at Skipton Building Society, added, “”But while the goodwill of grandparents can help control childcare costs, there are other areas where expenses are hard to avoid, such as paying for a child’s extra curricular activities or, in the longer-term, further education. It’s therefore critical that parents plan for their family’s future and make their money work for them, for example, by finding the best savings or mortgage rates, so that the pressure is relieved as much as possible, for both them and the grandparents.”

That would be a building society, reminding people that having the best available mortgage is a good idea.