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1% cap can sap financial strength

The main issue of company financial strength for consumer protection

is clouded by spin.

No profits, no reserves is particularly relevant today.

IFAs should consider their positions when recommending companies

offering 1 per cent capped products. The flawed pension review

revealed that fairness, Government copout and retrospective rulings

are very real.

Companies offering 1 per cent a year capped products should carry

serious financial health warnings in any products offered, both for

consumers and financial advisers.

If still relevant, the remaining,1 per cent issues can then be addressed.

David Humble

Chigwell,Essex

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