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AUTIF yet to respond

The Association of Unit Trusts and Investment Funds is yet to issue a reaction to the Chancellor&#39s pre-budget speech.



AUTIF says it is in the process of compiling a response which will be issued later today or early tomorrow.

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MARK ROWLANDS

Early predictions of stakeholder being a vanilla product limited to tracker funds have been proved wrong as providers line up to launch new products, which in many cases are substantially better for consumers than their previous personal pension.Most pundits now agree stakeholder will impact on the entire defined-contribution market and IFAs cannot ignore these developments.IFAs […]

R & SA may pay out up to £110m

Royal & SunAlliance said this week it expects to pay out between £80m to £110m as a result of the recent flooding and storms across the country. The insurer said it was possible premiums may rise in badly hit areas but did not think there would be a general rise across the industry. R&SA chief […]

Jam tomorrow if life companies bottle reserves

Revised rules on how companies should calculate the value of their assets and liabilities (or statutory reserves) were set down in May by the FSA&#39s ins urance directorate.These revised rules are intended to force life companies to increase their statutory reserves. This will affect all life companies that write unitised with-profits contracts such as endowments […]

Cherrypicking hits low earners

The Government has been accused of backtracking over stakeholder and neglecting its original target audience after it unveiled plans to allow life offices to cherry-pick business.IFAs and providers fear new DSS measures will give the green light to cherry-pick stakeholder business and lead to neglect of the low-earning group.The measures, outlined in a letter to […]

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