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Actuaries want rethink on Myners&#39 trustee approach

The actuarial profession has expressed its concerns over the Myners

report&#39s approach to the role of trustees in smaller pension schemes,

claiming it takes a “one size fits all” approach

The Faculty of Actuaries says a number of the proposals outlined in the

report seem impractical and inappropriate for smaller pension schemes.

The faculty believes proper training should be made available to trustees,

with a focus on ensuring that enough time is made available to both

member-nominated and management-appointed trustees to carry out the job


President David Kingston says: “While the profession generally welcomes

Myners&#39 recommendations on the role of trustees, they need modification for

medium and smaller-sized schemes.”


IFAs stick by Tories

IFAs are bucking national trends by backing the Conservatives, according to an exclusive poll conducted for Money Marketing and Skandia by H2B. The poll found that, nationwide, 35 per cent of IFAs votedConservative, 17 per cent Labour and 9 per cent Liberal Democrat. The poll, sponsored by Skandia in advance of its conference on the […]

Merrill Lynch HSBC – Global Growth PIP

Friday, 8 June 2001.Type: Cash deposit linked to the FTSE 100, S&P 500, Dow Jones Eurostoxx 50 and the Nikkei 225.Minimum-maximum investment: £5,000-no maximum.Interest rates: 15 per cent over term.Term: Five years.Offer period: July 5, 2001.Withdrawal penalties: No withdrawals permitted during term.Contact:

Northern Rock and L&G in reissue of combined account and bond

Northern Rock and Legal & General are teaming up to launch an instantaccess savings account offering fixed interest of 7.05 per cent alongsidean investment bond. The companies say the offer follows the success of previous issues of theBalance Choices account. Policyholders are offered a guaranteed return on the instant accessaccount until July 1, 2002 together […]

ABN Amro passes the£1bn mark in five years

ABN Amro Asset Management passed the £1bn under management mark lastweek, just five years after it launched into the UK market. The Dutch bank began its UK campaign in 1996 when it acquired CarringtonPembroke, and has seen assets double in the past year alone. Its success comes on the back of a strong year for […]


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