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ABI asks Goverment to &#39keep open mind&#39 on lifetime cap

The ABI has urged the government to &#39keep an open mind&#39 about the level of the lifetime cap but welcomed the moves to simplify the pensions tax regime from 8 down to 1 contained in the pre-Budget report.

ABI director general Mary Francis says: “Simplifying the pensions tax regime is essential to encourage more people to save for retirement. We hope the Government will keep an open mind about the level of the lifetime cap until it has seen the results of the NAO study. But it is essential that decisions are taken very quickly if April 2005 is to remain a realistic start date.”


Head of fund groups summoned to FSA meeting

The chief executives of leading fund groups have been summoned to a meeting with the FSA amid fears that the problems plaguing the US market have spread to the UK. FSA chairman Callum McCarthy is concerned that some fund managers have been the unwitting victims of late trading and market timing, which have been the […]

Rowan branches out

Rowan & Co believes it fits the mould of the ideal IFA envisaged by Ron Sandler, combining an IFA with an investment business. The business has five offices in Bath, Taunton, Bournemouth, Torquay and London serving the mass affluent rather than the super-rich. It has around 8,000 clients with an average age of 63. The […]

Cofunds claims 54% of supermarkets&#39 Isa sales

Cofunds claims it now has over half of the market for Isa sales by fund supermarkets. It says it has a 54 per cent share of Isa business, a big rise from 37 per cent for the second quarter. The firm says its assets have risen by 25 per cent to £1.4bn in the last […]

Fears for FSSC as Jackman quits

Chief executive of the Fin-ancial Services Skills Council David Jackman is stepping down after just six months in the role, voicing concerns that it will become a money-making organisation Jackman, described by industry peers as a driving force behind the initiative, denies that his departure will affect the development of the FSSC adviser qualifications programme. […]

The death of retirement – a boost for protection?

According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20% of total wages, the statutory minimum for a new automatic […]


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