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&#39May be win/win situation but not without some pain&#39 – CIS

CIS claims Sandler&#39s proposals could provide a win/win situation for the industry and consumers but not without some pain for the industry.

It says that although the name with-profits may be dead going forward, the concept of a smoothed performance is still very strong and has a role to play in the future of the market.

General manager (mar- keting) Martin Clarke says: “In recognising the validity of many arguments expressed by consumer groups, we have already taken significant strides towards addressing them such as achieving Raising Standards accreditation and launching a smoothed equity-based stakeholder pen- sions fund combining transparency and flexibility while retaining all the benefits of smoothing.”

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