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Bristol & West rebuked by consumer watchdog

Former building society Bristol & West has been reprimanded by watchdogs for paying poor rates of interest to 4,000 savers.

The Banking Code Standards Board has ruled the bank owned by the Bank of Ireland was breaking the rules by offering lower rates of interest on accounts that are no longer marketed.

Bristol & West was paying just 0.1 per cent interest to savers using its “Select Account” no matter how much they invested. These same consumers will be able to now invest in the bank&#39s “Premier Saver” range which pays 3.15 per cent for balances of more than £100,000.


To possess and possess not

Much has been written over the last two or three years about the advantages that certain trustees of discretionary trusts or accumulation and maintenance trusts can enjoy by investing some of their capital in single-premium bonds.The changes to the taxation of dividends in the hands of these trustees from the 1999/00 tax year has been […]

Deutsche Global Liquidity Series

The Deutsche Global Liquidity Series from Deutsche Bank is an umbrella UCITS fund domiciled in Dublin, aimed at institutional investors who are looking for income.Global liquidity will consist of three short term liquidity funds, the Deutsche managed euro, Deutsche managed sterling and Deutsche managed dollar. Each will invest in sovereign debt and short-term cash bonds […]

With-profits may get a late reprieve

With-profits funds under stakeholder are set for a last-minute reprieve following negotiations between life offices and the Government.But providers may face a new cost burden as the Government forces life offices to calculate stakeholder pension charges on a daily basis as with mortgages.In a meeting with the ABI and the Faculty and Institute of Actuaries […]

It&#39s a wrap

Remember, IPAs are not new pension vehicles in themselves but sit inside any one of the defined-contribution schemes. Shares and unit trusts held inside IPAs will be tax-exempt.The Treasury suggests much synonymity between IPAs and stakeholder pensions. It seems convinced that IPA managers will have no problem finding suitable investment funds – in many cases […]


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