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Apcims reports rise in private client business

CGU is launching a with profit annuity aimed at pensioners looking to make the most of their pension funds.

The with-profits annuity will provide a viable alternative to traditional annuity schemes which have suffered from falling returns in recent years.

The new annuity is available to funds with a minimum of £15,000 and will allow clients to withdraw up to 5 per cent a year from their final pension pot. The remaining fund is left to grow through the addition of annual reversionary bonuses.

Initial commission is 1 per cent plus uplift.


Government to reject Royal Commission&#39s long term care proposals

The Government will reject the Royal Commission on Long Term Care&#39s main proposal to provide free nursing care regardless of personal circumstances, according to the Financial Times.The report says health minister Frank Dobson will discard the Commission&#39s recommendations in favour of a three-month period of free nursing and residential care.The paper says the proposals will […]

Shepherds to buy unitised with-profits policies

Essex-based traded endowment specialist Shepherds is to become the first trader to buy unitised with-profits policies. It says accepting unitised policies will dramatically boost its sales because the majority of policies taken out over the last ten years have been unitised. The company has developed a specialist team of actuaries to deal with the charging […]

Occupational pension scheme managers confident about the on-set of stakeholder

The majority of occupational pension scheme managers believe the introduction of stakeholder pensions will not effect the running of their scheme according to a survey by FPS Trustee Company.The survey reveals that 95 per cent of managers will continue to run their scheme unaffected by the introduction of stakeholder.FPS also found massive support among managers […]

CGU launches with-profits annuity

CGU is to join other life offices and plans to offer a with-profits annuity.The annuity, which is available to pension funds of between £15,000 and £1,000,000 carries guarantees the annuity will not fall below a specified amount.This is calculated at the amount that would have been paid to a pensioner when the pension started had […]


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