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&#39Use salary sacrifice to cut NI bill&#39

Legal & General is advising employers to take advantage of salary sacrifice to reduce their firm&#39s and employees&#39 National Insurance bill. A 1 per cent increase in NI contributions will add an extra £1,000 to an employer&#39s NI bill for every £100,000 of payroll. But L&G says by simply reviewing the way pay is structured, both employers and employees can turn the NI increases to their own advantage. It says employees can forego a pay rise and have the amount paid as an employer&#39s contribution into their pension plan instead.

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Graham takes over as IFAP chairman

IFAP has announced its new chairman is to be former Scottish Widows brand and network development director David Graham.The move, which is effective immediately, sees Graham come out of his short-lived retirement to take over from Roy Nicolson, who was temporarily filling the role during the recruitment process.Graham, 56, retired from Widows last year after […]

Rising confidence to bring boost for life and pensions

An increase in activity for financial services providers is forecast over the next six months, according to the latest quarterly Financial Activity Bulletin.The bulletin, produced by Martin Hamblin GfK and John Gilbert Associates, links consumer confidence with their expected savings, investment and debt activities for the next six months.It shows an expected 3 per cent […]

Failings in FSA split-caps consultation

Professional body the Actuarial Profession says it has identified three main failing in the FSA consultation on split cap investment trusts. The first of the three troublesome areas the Actuarial Profession says it wishes to tackle is the proposal to restrict investment in funds of funds, which it believes will solve problems associated with crossholdings. […]

Craig criticises pensions response

Scottish Equitable pensions development manager Margaret Craig has hit out at the negative tone of responses to the Government&#39s Pensions Green Paper, claiming the industry is becoming too bogged down in the detail and losing sight of the end goal. Craig was a member of the Pickering review team, whose report published last July led […]

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