Seventy per cent of companies have no exit strategy for their defined-benefit pension scheme despite the fact 88 per cent of UK firms operating a closed scheme continue to be significantly conc- erned by the drain on their finances, according to research from Aon Consulting.
First Direct has launched its cheapest ever mortgage with a discounted variable rate of 2.99 per cent until May 2006.At the end of the discount term borrowers will revert to First Directs standard variable rate of 5.5 per cent.First Direct chef executive Richard Kimber says: “This mortgage is a win-win for homeowners. First, the lowest […]
Savills plc is reporting a strong first half result showing pre-tax profit of 19.9m, up 15 per cent on 2004 results. The property group’s interim results to June 30, 2005 show a turnover of 158.2m up 12.7 per cent on 2004 results. Basic earnings per share for the period rose from 23.5p last year to […]
Total employment in Britain has risen by 3.6 million in the past 20 years, with the financial services sector workforce growing by over one-fifth, according to the Halifax. The sector’s workforce has grown by 197,000, or 22 per cent, since 1985 from 888,000 to just under 1.1 million. In 1985, people working in financial services […]
Money Marketing editor John Lappin finds that Aegon chief executive Otto Thoresen believes life offices ans IFAs working together can be the saving grace of country
The National Association of Pension Funds (NAPF) recently published its 40th annual survey of workplace pensions. The survey looks at both defined benefit and defined contribution schemes.
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Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
A misleading headline rate of unemployment means opportunities are being overlooked by investors
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]