Are My Savings Safe?

31/12/2010 by TonyM.

If you loose your job no!

You must use up most of your savings, in fact you can have only £6,000, in order to claim benefits. So there is yet another drawback to being unemployed.

You can have no or very little savings, while people with jobs have just been awarded a compensation limit who lose money if their bank or building society goes bust, has just increased from £50,000 to £85,000.

Compensation will be paid by the FSA and they said that the new limit would cover the “vast majority” of savers in the UK.

Those with money get and retain money while those without get poorer. I hate this unfair world, I’m just waiting for Armageddon when things might even themselves out!

Posted in Finance | 5 Comments »