Advertisement
UK markets close in 5 hours 10 minutes

  • FTSE 100

    8,053.60
    +29.73 (+0.37%)
     

  • FTSE 250

    19,704.36
    +104.97 (+0.54%)
     

  • AIM

    752.21
    +3.03 (+0.40%)
     

  • GBP/EUR

    1.1595
    +0.0006 (+0.06%)
     

  • GBP/USD

    1.2360
    +0.0010 (+0.08%)
     

  • Bitcoin GBP

    53,510.98
    +46.88 (+0.09%)
     

  • CMC Crypto 200

    1,422.24
    +7.48 (+0.53%)
     

  • S&P 500

    5,010.60
    +43.37 (+0.87%)
     

  • DOW

    38,239.98
    +253.58 (+0.67%)
     

  • CRUDE OIL

    81.91
    +0.01 (+0.01%)
     

  • GOLD FUTURES

    2,312.00
    -34.40 (-1.47%)
     

  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     

  • HANG SENG

    16,828.93
    +317.24 (+1.92%)
     

  • DAX

    18,009.27
    +148.47 (+0.83%)
     

  • CAC 40

    8,073.73
    +33.37 (+0.41%)
     
Money:

What is the true cost of the UK state pension?

To get a sense of the true value of the state pension, you can look at how much you would need to save to match it yourself

Fund to support those worst hit by Covid-19 launches

Vicky Shaw, PA Personal Finance Correspondent
·2-min read

A new fund to support some of the people hardest hit by the coronavirus crisis has been launched by the UK’s insurance and long-term savings industry.

The Covid-19 Support Fund aims to raise £100 million, with £82.5 million already having been pledged.

It is being supported by members of the Association of British Insurers (ABI), the British Insurance Brokers’ Association (Biba), Lloyd’s, and the London Market Group (LMG).

Firms are being encouraged to make voluntary contributions to the fund, which aims to help community-based charities and those helping the most vulnerable people.

ADVERTISEMENT

There will be a focus on helping families and children living in the greatest poverty, older people living in isolation and support for initiatives which promote wellbeing and mental health across society.

The fund has been set up in partnership with the Charities Aid Foundation, and a network of partners, including the National Emergencies Trust.

Sir John Low, chief executive of the Charities Aid Foundation said: “We know it will make a huge difference to many people in need of support at this time.”

Of the donations pledged so far, £20 million is going to the National Emergencies Trust to help it continue work to support community-based charities on the front line tackling the coronavirus crisis.

Lord Dannatt, Chairman of the National Emergencies Trust, said: “Since the launch of our coronavirus appeal, generous pledges have meant we have been able to distribute more than £30 million and make more than 4,000 grants to charities across the UK.

“We are hugely appreciative of the support from the insurance and long-term savings community and will work to ensure the funds raised are quickly distributed to those who are most in need.”

Firms that have already pledged donations include Aviva, Zurich UK, RSA, AXA UK and XL, Allianz Insurance, Lloyd’s, Hiscox, Direct Line Group, Admiral, Pension Insurance Corporation, Rothesay Life, American International Group UK Limited, Ageas Insurance, LV= General Insurance, Phoenix Group, Chubb, Ecclesiastical, Aon, Just Group, NFU Mutual, PIB Group, Brokerbility, Canada Life, Chesnara, Sabre, Standard Life Aberdeen, Unum, Ardonagh, and Esure.