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1st – The Exchange adds real-time fixed-term annuity rates to Exweb

1st – The Exchange has expanded its existing annuity comparison system on Exweb with the launch of real-time fixed-term rates.

The rates will be available to subscribers at no extra cost. The firm says the expansion will provide the widest range of annuity product types in the market, via a portal.

Alongside traditional lifetime annuities, 1st – The Exchange says the new functionality will help advisers to research retirement options and access client specific fixed-term quotes using the most up-to-date information available.

Living Time is the first provider to launch their product on the service.

Key benefits of the Exweb annuity service include real-time and indicative rates, standard, smoker and enhanced annuities, comparative results, client illustrations and the facility to store and retrieve quotes.

Managing director David Child says: “The Exweb annuity service promotes open market options, encouraging full assessment of all retirement vehicles available. In response to continuing market changes and innovation, we can now quote for lifetime, fixed term or ‘to age’ annuity scenarios. We are delighted to be the first to offer such a range of retirement options on a real-time basis. This is another positive move for Exweb, developing leading-edge technology solutions in order to help intermediaries in this ever-changing market.”


95% Have moved to AIG recovery fund

AIG Life has revealed that 95 per cent of policyholders trapped in the frozen enhanced fund have opted to transfer into the protected recovery fund. People choosing to exit the fund on December 15 will get 87 per cent of their fund.

Isle of Man sets up compensation deal

The Isle of Man government and local banks are to offer a compensation package, including help for bondholders with cash deposits in KSF IoM. It will combine government and bank contributions with provisional liquidation assets.

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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


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