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&#39IFAs will sort out the pension mishmash&#39

Scottish Life is predicting the emergence of a new pension product to mop up the “mishmash” of existing schemes after the introduction of stakeholder.

Speaking at one of ScotLife&#39s roadshows, CP61 Rev isited, head of pension strategy Steve Bee said employers will want an overriding product to tidy up all their existing pension schemes.

He said employers will need solutions to their pension problems rather than just buying another product, which will lead them towards advice, and he predicted the DSS handbook on stakeholder will be the best form of advertisement for IFAs. He said the handbook will cause employer confusion over exemptions.

Bee said: “The market will shift into an environment where employers will have a mishmash of pensions and IFAs are the only people able to tidy up and put them into one.”


Trade bodies welcome FSA&#39s approach

IFA representatives welcomed the regulator’s new risk based approach at the IFA UK conference in London this week. Representatives of Aifa, Sofa and the LIA all said that supported the regulator with its new emphasis to policing firms on the basis of the risks involved with that business. Sofa chairman Peter Williams said: “Risk based […]

Pinnacle Insurance – The Protected Bonus Bond Plus

Monday, 27th November 2000.Aim: Growth linked to the Nasdaq100.Minimum-maximum investment: £7,500-£250,000.Term: Five years.Guarantee: Capital returned in full at end of term even if Nasdaq100 falls.Return: Capital returned in full along with a minimum of 20 per cent ofgrowth in index, subject to a maximum of 90 per cent net of basic rate tax.Closing date: December […]

Schofield leaving ScotProv as role goes

Scottish Provident head of sales Alistair Schofield is leaving the company after being usurped by Scottish Mutual rivals in the Abbey National takeover deal. Schofield has been left without a role in the post-acquisition reorganisation. He is widely credited with taking ScotProv to its current position as market leader in the sales of protection policies. […]

PIFC stakeholder site targeted at employers

Employee benefits specialist PIFC Consultants is setting up a website dedicated to stakeholder pensions and featuring a decision tree geared specifically at employers. PIFC says the move is in response to the low level of understanding among UK businesses about the introduction and impact of stakeholder which employers must make available to staff from October […]

Auto enrolment – so far so good?

Jamie Clark – Business Development Manager The recent report from the Pensions Policy Institute demonstrates the sheer scale of auto-enrolment so far and what we can expect in the future. We’ve pulled out the key information to save you reading the full report. Auto enrolment in numbers Sources: Pensions Policy Institute, The Future Book: Unravelling […]


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