View more on these topics

Advisers urged to push waiver and life cover

IFAs are being urged to jump- start the pension market with a buy now

while stocks last campaign, pushing waiver of premium and life cover before

stakeholder restrictions apply.

Providers believe IFAs can take advantage of the changes to boost the

flagging personal pension market.

From April 2001, life cover under pensions will be restricted to 10 per

cent of the premium. But by buying a personal pension or a pension term

insurance policy now, policyholders will be able to take out or increase

life cover on the present basis both now and in the future.

This allows them to base their premiums on up to 5 per cent of relevant


Under stakeholder, tax relief will be lost on waiver premiums. But, by

taking out a plan now, policyholders will get tax relief on the current

basis both now and in the future.

IFAs are advised to keep their clients&#39 options open by recommending they

take out a plan under the present pensions rules even if the additional

benefits are not used until future years.

Clerical Medical pensions strategy manager Nigel Chambers says: “Plans

taken out now offering rights to waiver or life cover on current tax terms

could prove to have a valuable advantage.”

Scottish Life head of communications Alasdair Buchanan says: “This is a

good opportunity for IFAs to talk to people about doing something now as

they can get greater benefits under current rules.”


Conference meets with MPs to push LTC cause

The Continuing Care Conference, an umbrella group of insurers, charitiesand health providers, has met with MPs and peers in a bid to keep long-termcare on the political agenda.The CCC told the all-party working group on older people it is anxious forthe Government to address the issue as it is a year since the royalcommission delivered […]

Stressed-out youth

Money matters are the greatest cause of stress among young people,according to research commissioned by Alliance & Leicester.The survey of 958 people reveals that 64 per cent of those aged between 16and 24 said that not having enough money to go out was the greatest causeof stress.It coincides with A&L launching Piggybank2000 campaign aiming to […]

Monetary Policy Committee split over interest rate decision

The Monetary Policy Committee was split over its decision to keep the interest rate standing still last month.The published transcripts of their April meeting reveal that the final tally was 6-3 for keeping the rate at six per cent. The minority opinion wanted to raise it a quarter of a point to combat the rising […]

Abbey set to recruit 100 staff in blitz on pensions

Abbey National is poised to blitz the stakeholder market as it recruits anationwide salesforce of 100 “stakeholder managers”.The company says it is acting in response to other lenders shunning thestakeholder market, believing it will be unprofitable.Abbey says it is planning to “punch the weight” of its brand in thepension market and has already started bringing […]

Artemis Global Income: favouring Europe over the US

With a 10 per cent return from his Global Income Fund in the first three months of 2015, Jacob de Tusch-Lec talks to journalist Alexis Xydias about the drivers and why he favours Europe and Asia over the US. Jacob believes European companies remain cheap and is still finding opportunities amid value stocks – in contrast […]


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