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Axa Sun Life cuts bonus rates

Axa Sun Life is cutting bonuses in the Axa Equity & Law With Profits Fund.

Both the low-cost homebuyers endowment bonus rate and the investment bond bonus rate were cut by 0.5 per cent to 5 per cent for 2001 from 5.5 per cent in 2000.

The personal pension bonus rate was cut by 0.75 per cent to 5.5 per cent for 2001 from 6.25 per cent in 2000.

Axa Sun Life actuary Peter Shelley says: “Our bonus rate declaration perfectly illustrates one of the key principles of with profits – namely smoothing of investment returns.”


Survey shows young people want financial services

Few young people currently have savings, insurance and pensions, but most aspire to have them, according to a survey of YMCA residents by the New Policy Institute .The research shows 90 per cent think they need a pension but only 10 per cent have actually started one. Of those surveyed, 70 per cent thought it […]


Draft regulations have been issued to give effect to changes proposed in the pre-Budget report as follows:- ■ Extension of the £7,000 annual subscription limit (including up to £3,000 in cash) for a further 5 years until April 2006.■ Permitting 16 and 17 year olds to invest up to £3,000 a year in either a […]

Scrapping MFR &#39will depress annuity rates&#39

The scrapping of the minimum funding requirement, widely expected to ease pressure on gilt markets, may actually increase demand and depress annuity rates, according to leading annuity IFAs.The replacement of the MFR with tougher requirements for defined benefit schemes actually places more of a burden on pension funds. It is likely to generate greater demand […]

Tony Wickenden – Partner Technical Connection

BUDGET 2001 ARTICLEThis Budget was certainly one with few surprises. As such I am going to take a more oblique view of what some of the changes might mean and what action might be profitable for UK taxpayers in a few selected areas. Namely: The children&#39s tax credit Inheritance tax Capital gains tax Life assurance […]

Time for a new approach to asset allocation

Trevor Greetham, RLAM’s head of multi asset, introduces the recentlylaunched RL GMAPs. Asset allocation has become an increasingly difficult challenge for investors and advisers in the years since the financial crisis. Sometimes violent price swings in stock and commodity markets coupled with the collapse in the rate of interest on bonds have made it harder […]


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