View more on these topics

ABI and Aifa in new version of contracting-out factsheet

The ABI and Aifa have published a revised version of their contracting-out factsheet, designed to help consumers decide whether to remain out- side the state second pension.

The factsheet says consumers should review their decision to contract out each year, based on factors such as their preference for state versus private provision and the added flexibility of contracting-out.

It stresses that an individual’s age is a particularly important factor and that the Government’s aim is to ensure that con- tracting-out provides a comparable level of benefits to what they would receive under S2P.

ABI director of life and pensions Chris Kenny says: “This factsheet is an important reference guide for the millions of people who have personal pensions and who need to decide every year whether to remain contracted out of S2P.”

Aifa deputy director general Fay Goddard says: “Contracting-out is a complex matter and consumers need clear information about their options and the factors which they need to take into consideration.”


Friends rejects wraps

Insurer says there are problems with technology, legacy service and indemnity commission

Rate fears over cover for HIV clients

IFA Totally Insured Group is offering the industry’s first life insurance contract for HIV-positive clients but an IFA is warning that it could cost up to 30 times the market rate. TIG is launching Positively Insured, which offers 10,000 life cover for people diagnosed with HIV for at least 12 months on December 1 – […]

GE reduces lifetime loan rates

GE Life is upping the ante in the equity-release rate war, unveiling improved rates on its lifetime mortgage offering and calling for greater transparency in the market. The firm is reducing its ann-ual lifetime mortgage rate from 6.25 per cent to 5.89 per cent. The firm is also calling for the lifetime mortgage sector to […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm