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ABI agreement over GP payments

The ABI has reached an agreement with the BMA on the level of payments to GPs who complete medical reports for insurance purposes. From July 1, the fee for completion of a report will rise to £65 from £60. The fee for a supplementary report will rise to £16.50 from £15.75 and a medical examination carried out by a patient&#39s GP will cost £71, up by £5.

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Only 27,000 Irish stakeholder sales in first year

Only 27,000 of Ireland&#39s stakeholder-style pensions have been sold in the product&#39s first year even though it allows a 5 per cent bid/offer spread plus a 1 per cent annual charge. Irish consumers are spurning the state-sponsored Personal Retirement Savings Account even though its charging structure is what many life offices see as the solution […]

Lincolm Fund emerges through Delaware

Lincoln Financial Group has created an emerging markets unit trust to be managed by Delaware International Advisers which manages Lincoln&#39s Far East trust and emerging markets life and pension funds. The unit trust will be run along the same lines as the life and pension funds and will invest in a range of industrial sectors […]

Halifax denies service claims Survey urges caution over WP balance sheets

The FSA&#39s push towards realistic balance sheets for with-profits life offices is welcome but a degree of caution as to how the figures will be interpreted must be shown, according to The Centre for Risk and Insurance Studies. In a preliminary analysis of the top 20 with-profits life ins-urers&#39 returns to the FSA, Cris, which […]

Halifax is lender choice despite admin problems

Halifax wins the vote for lender multi-ties with 40 per cent while Nationwide is second with 36 per cent. IFAs were asked to list the four lenders they would be most likely to tie to. Abbey National is third on 31 per cent, Cheltenham & Gloucester fourth with 25 per cent, Northern Rock fifth on […]

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DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]

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