POUND NOTES
PAYING A HEAVY PRICE
HOLIDAYMAKERS get slapped with £395million in excess baggage charges at airports each year. One in five has been caught out with overweight luggage in the past two years and paid an average £135 in fees, according to research by insurer Columbus Direct.
There is a huge range of complex fees and charges, depending on the airline. Most carriers allow one bag in the hold and one piece of hand luggage with weights varying from 20- 23kg and 7-23kg respectively.
People should check with individual airlines before travelling to find out weight limits and the number of bags allowed. There have been cases of travellers forced to leave belongings behind.
There are also restrictions on the type and shape of luggage allowed. Rules recently introduced at Dubai International Airport can mean bags without flat surfaces are rejected at check-in.
AN UNCERTAIN FUTURE
HUGE numbers of people aged over 50 are not financially prepared for the future. More than half have not yet made a will and more than a quarter don’t have pension savings.
One in 10 of those who do have a pension only began putting cash away in their 40s, according to a study by Nationwide Building Society.
Women are the least likely to have a pension – 68% compared to 79% of men. Men are the most unlikely to have made a will – 43% against 51% of women.
Meanwhile, 20% of people have no savings at all and 39% have debts on credit cards, loans, car finance and overdrafts.
Larry Banda, Nationwide’s Director of Financial Planning, said: “Planning ahead for life events – whether retirement, helping the kids get on to the housing ladder or building a nest egg that will enable you to enjoy life – is a worthwhile habit to get into. Even saving a little over a period of time can make a real difference.”
SEEING YOU SAFELY HOME
INSURER Rias has teamed up with Specsavers to try to keep motorists safer by offering free eye tests and discounts on glasses.
Rias paid out £34.5million in claims for major motor accidents in 2015 – almost three-quarters involved drivers over the age of 75. The company believes that poor eyesight could be a big contributor.