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30 NAVY NEWS, MAY 2002 Monevwise


Financial survival guide for


leavers


Services. The pack is full of easy to understand and impartial informa- tion to guide military personnel through the potential minefield of fthe financial world. The FSA believes that for many


THE INDEPENDENT finan- cial watchdog, the Financial Services Authority (FSA), has published a Financial Survival Pack designed to help mem- bers of the Armed Forces plan for the next stage of their per- sonal finances after leaving the


various products - as well as any charges. The tables are designed to facilitate shopping around for financial products. Featured in the tables are more


be found on the Internet at: www.fsa.gov.uk/tables. Free copies of the Financial


than 400 Unit Trust ISAs as well as personal pensions, stakeholder pensions, investment bonds and mortgage and savings endow- ments. These comparative tables can


Service men and women who have spent their lives working in a high- ly-supportive environment, having to find their own home for the first time can be a daunting prospect. Careful planning can help them


sists of a number of elements: top tips to make money stretch fur- ther; do's and don'ts for buying a home and mortgage repayment; ways


take control of their finances and prepare for life after the Forces. The FSA information pack con-


income once outside the Services; a useful directory of key contacts in the financial realm; and an interactive CD-ROM called 'FSA Financial Planning' that lets users carry out their own financial healthcheck. The FSA says: "For people


to increase retirement


sheets on a wide range of personal finance topics are available from the same helpline number, or found on the FSA website at: www.fsa.gov.uk/consumer. The FSA's role is to regulate the


Survival Pack can be obtained through the FSA Consumer Helpline on 0845 606 1234. Other information and fact-


financial services industry, and has four


Financial and Services Act 2000: to maintain market confidence; to promote public understanding of the financial system; to guarantee an appropriate level of protection for consumers; and to fight finan- cial crime. This code aims to main- tain efficient, orderly and clean financial markets.


objectives under the


coming out of the Armed Forces, retirement could last up to 30 years - or even longer if they choose early retirement. "This pack is tailored to their particular needs and will help peo- ple in the Armed Forces plan and review their personal finances." The FSA stresses: "Because


www.navynews.co.uk


Ten simple ways to beat the taxman


NAAFI Financial Services has launched a simple guide designed to stop people paying more tax than they


essarily each year. The guide also includes ten top


need to. It seems that on average people pay £140 in tax unnec-


tips, all designed to increase awareness of possible tax-saving techniques. These are simple ways to limit


any tax overspend by checking the tax code which has been supplied and making the most of ISAs, to transferring assets between part- ners according to individual tax rates.


"£1.128 million was wasted last


year in fines by people not com- pleting their self-assessment tax returns on time," says NAAFI Financial. "By spending a small amount of


time looking at our top tips and the guide, Forces personnel and their families could reduce the tax they pay.


more aware of what they should and shouldn't be paying. This is another initiative in our 20th anniversary year that demonstrates our long-term commitment to the Armed Forces market." NAAFI Financial's 'Tax Free


"We want to make everyone


Zone' offers various tax-free prod- ucts and services, including tax- free savings, tax-free car sales in Germany and insurance premium tax refunds.


SEPARATING OR DIVORCE PENSION ADVICE Specialist legal advice to Naval Personnel fo CONVEYANCING WILLS, PROBATE & TRUST MATRIMONIAL & FAMILY


II \


CHILD CARE PERSONAL INJURY CLINICAL NEGLIGENCE OCCUPATIONAL ILLNESS MENTAL HEALTH


COFFIN MEW& CLOVER


For more details call one of our offices, or email via our website


www.coffinmewxo.uk FREE INITIAL ADVICE IN MANY CASES Call 01 329 82561 7 or 023 8033 4661


Employment Problems / Redress by Complaint?


Need Help and Legal Advice? Contact:-


we're the independent financial watchdog, all the information is impartial. We do not promote individual firms or products." The FSA aims to promote bet-


ter public understanding of the financial system, and this new Financial Survival Pack forms part of that commitment. The pack also includes details


on the FSA's Comparative Tables. These enable would-be investors to compare easily the features of


'FORCES LAW


The Forces Legal Network


• Are you constantly worrying about DEBT? • •


Is your family under pressure through DEBT while you are away?


• Worried about Commanding Officer involvement?


WORRIED ABOUT DEBT? Is DEBT affecting your performance at work?


(LLA, ••V • If you can answer YES to any of the above, then please read on.. IF YOU'RE IN DEBT


If you are paying £500 per month on your credit cards, store cards, unsecured loans etc.


We will reduce this to less than £200 per month.


PIUS YOU Will BE DEBT FREE WITHIN 5 YEARS GUARANTEED WITHOUT TAKING MORE LOANS


Shirt OMUaAfly assured - No employer contact - We employ EX-Aimed Fanes personnel as counsellors, who understand through personal experience the stress of the job with DEBT!


08451200 662 E X National calls at LOCAL RATE


DEBT COUNSELLOR S AN D MANAGEMEN T www.apex-debt-help.co.u k


0845 601 1260 www.forceslaw.com


For a free 30 minute initial diagnostic interview with


Lawyers experienced in the Armed Forces who speak your language


FORCES, EX-SERVICE PERSONNEL


WOUNDS? DISEASES? INJURIES? CAUSED BY SERVICE? also


ALL PERSONAL INJURIES CLAIMS You may be entitled to


COMPENSATION CALL THE CLAIMS SPECIALISTS!!! CALL FREEPHONE


0500 22 20 22 NOW!!!


THORN COMPENSATION SERVICES LTD • MARSH HOUSE 92A MARSHLAND ROAD • MOORENDS • DONCASTER DN8 4SZ


0800 207 800 S.OOam-S.OOpm Mon-Fri, 9.00am-5.00pm Sat •VJCH LIN E


Subject to status and current acceptance criteria. Touchline may record telephone calls. *> Touchline is a member of the General Insurance Standards Council.


Call us for Van Insurance too


tomers the chance to win a DVD player by answering ten multiple choice questions on "things you didn't know about tax". The new guide goes over the


The campaign also gives cus-


basic allowances available in any given tax year and a basic explana- tion of key taxes - including capital gains, inheritance and income tax. NAAFI Financial expects that


top ten tips and the DVD player competition are all available from NAAFI branches in the UK, Germany or Cyprus, or from their website: www.naafi-financial.com.


the guide will help customers max- imise their tax efficiency by check- ing the tax they currently pay and provide an insight into how they might save money in the future. Copies of the new tax guide, the


f Don't Waste Money Save Money


on separate Motor Breakdown Cover


our competitive Motor Insurance Rates automatically include


Motor Breakdown assistance!!! Motor Insurance


The Specialist for KM. Forces and M.O.D. Personnel


Motor Insurance NorthMn Intend Hid Eurtv*)


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8am til 10pm Monday - Friday 9am til 9pm Saturday & Sunday Open 365 days a year


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if you have their kit & contents insurance too! To really save money try TF Insurance Services


Our mystery shopping reveals that we can save an average of 30% when we compare the total cost for the car and kit! We can't guarantee to be 30% cheaper every time (sometimes we may save you even more!) To find out how much we can save you call The Free Number below, or email us at: SaveEvenMoreMoney@tfinsuranceservices.co.uk Or you can visit our website at: www.tfinsuranceservices.co.uk


The Free Number 0800 389 1798 NCE SERVICES


(Mon-Fri 9-5 Sat 9-4)


For training purposes your call may be recorded


Travel Insurance Life Insurance


Motor Insurance with that Bit Extra


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