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ACA says stakeholder consultation is flawed

The Association of Consulting Actuaries has criticised the Government&#39s consultation process on Stakeholder pensions as flawed.

It says the consultation papers on advice and contracting out rebates must be published before comments on the proposed charging structure can be made.

ACA pension schemes committee chairman Mark Duke says: &#34Maximum charges cannot be set in isolation . Consideration needs to be given to the level of services that is considered possible to provide for a given level of charges.

&#34Only if the resulting service level is considered acceptable should the charge level be set.&#34

Duke says the most sensible alternative to the current process is to define a minimum service level and to work backwards to set the charges.


TMO launches combined business and mortgage loan

The Mortgage Operation is launching a new product which enables business owners combined who combine their business and their homes in one mortgage. The semi-commercial mortgage is fixed at 7.5 per cent to August 2002 for loans under £150,000.It also features purchase or re-mortgage to 75 per cent, the ability to re-pay ten per cent […]

Christian IFAs to discuss &#39The Year of Leaven&#39

The theme of this year&#39s Association of Christian IFAs conference will be &#34The Year of Leaven&#34.It is based around the concept that spiritual guidance could improve financial services planning in the same way as leaven (yeast) improves bread.The theme is intended to be provocative.ACIFA chairman Mark Roach says: &#34There is a lot of talk in […]

Ilag warns Government over stakeholder

The Investment and Life Assurance Group is warning the Government its stakeholder plans risk another pensions transfer scandal due to churning.The group believes Government proposals on minimum standards stakeholder will force pension companies to maximise funds under management.Its warnings follow warnings from the Association of British Insurers and former welfare minister Frank Field that companies […]

FSA chairman highlights the need for international best practice standards

FSA chairman Howard Davies has highlighted the need for Offshore Financial Centres to meet international &#39best practice&#39 standards.Delivering the first Anniversary Lecture of the Jersey Financial Services Commission, Davies said there was frustration among G7 finance ministers and regulators about the co-operation they get from some offshore centres.As a result the G7 group has set […]

Finding security in bond markets

Martin Foden, head of credit research at Royal London Asset Management, explores the role of secured bonds, considering the impact of default and the characteristics of secured bonds versus supranationals and highlighting some examples. He also examines the evolution of the credit market and rating agency inefficiencies. Read the article in full: The value of […]


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