View more on these topics

All aboard for stakeholder advice

Britannic Assurance is travelling round the country in a double-decker bus to bring the stakeholder message to employers.


Its roadshows follow a survey conducted for the life office which revealed that many employers are unaware of their obligations under the stakeholder pension regime.


It also found IFAs are the top choice for employers who have already sought stakeholder advice, with face-to-face advice in the workplace being considered essential by many.


Starting on September 4, Britannic will drive its bus to more than 30 locations from Brighton to Glasgow, visiting companies across all business sectors.


The ground floor will operate as a stakeholder information centre, while the upper deck has been fitted out with facilities for hourly presentations.


There will also be the opportunity for employees and employers to receive one-to-one stakeholder advice.


In a survey of 400 small to medium-sized firms carried out by NOP Finance on behalf of Britannic, 43 per cent of companies with 51-150 employees said they knew nothing about the pension reforms. Overall, more than a quarter of companies admitted they had no knowledge of stakeholder.


As part of its education drive, Britannic is recruiting 40 consultants to work alongside its tied salesforce to advise companies at a local level.


Business manager John Wilkinson says: “The roadshows fit our philosophy of making the selection and implementation of stakeholder pensions as simple and hassle-free as possible. This research highlights the need for palatable, jargon-free information.”


Tunbridge Wells Equitable Friendly Society is offering a free guide to children&#39s savings for parents logging on to its Baby Bond website at www.babybond.co.uk.


The guide covers a variety of options, including premium bonds, bank and building society accounts, investment and unit trusts. It explains when to start saving and weighs up the advantages and disadvantages of each product.


Twefs offers a choice of tax-free children&#39s savings vehicles, including its with-profits Baby Bond and its University Bond to helps fund education costs.


Head of marketing says David Halliday says: “Our natural instinct is to want to give our children the best start in life that we can afford but with such a bewildering array of savings products on offer, it is hard for people to know where to begin.”

Recommended

Life offices warn over SSAS charges

The Inland Revenue&#39s new legislation on small self-administered schemes could force charges to rise and lead to some schemes changing to alternative arrangements, according to life offices.The new rules increase the responsibilities of pensioneer trustees and consequently life offices&#39 admin costs.Experts argue this will cause certain schemes which do not fully utilise SSAS features, such […]

IFAs angry as Eagle Star calculates endowment rate at 7%

IFAs have attacked Eagle Star for calculating the investment rate of return on its endowment rev-iew letters at 7 per cent instead of 6 per cent as the ABI and the Institute of Actuaries have recommended.IFAs say calculating on a 7 per cent basis allows Eagle Star to hide the potential shortfalls and reduce the […]

IFAs attack &#39misleading&#39 Prudence literature

Prudential has come under fire from IFAs who claim its latest marketing material for its with-profits bonds is misleading.IFAs say Prudential&#39s Prudence bond literature makes invalid comparisons between the bond and a building society account.Prudential describes its bond “as boring as the building society”.But advisers say this is misleading because the bond is not as […]

Banking on Stakeholder

HSBC – Personal Pension PlanType: Stakeholder-friendly personal pension offering a range of unit-linked funds.Minimum premium: £20 single or monthly.Minimum group size: Five.Minimum-maximum ages: 17-70.Fund links: Secure, fixed interest, FTSE All Share, international.Charges: Annual 1 per cent.Allocation rates: 100 per cent.Minimum term: None.Options: Life cover and waiver of premium.Commission: None.Tel: 0800 520 420.Broker Panel:-Michael Posner – […]

Tax year-end planning with the family

From the Technical team at Prudential Let’s face it, many aspects of financial planning involve a lot of technical detail. At our face-to-face events, we’ve had great success bringing these technical topics to life through the use of practical case studies. Meet the family Prudential’s Planning Matters hub brings together a fictional family and explores […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment