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Britannic take clarity to with profits annuity

Britannic Retirement Solutions is aiming to bring transparency to the with profits market with the introduction of the Britannic with-profits pension annuity.

The annuity will invest in the Britannic Assurance pension with profits fund and will be the 13th investment-linked annuity on the market. This product differs from other with-profits annuities in that investors will know exactly how the with-profits fund has performed and exactly what the charges are.

Charges are guaranteed not to exceed 1 per cent, which is an unusual feature for a with-profits annuity. Most annuities that invest in a with-profits fund deduct charges before paying out the return to investors, so it is difficult for them to understand exactly what charges have been taken from the investment.

Traditional with-profits annuities make it difficult for investors to find out how their investments are performing. They can only do this once bonuses have been declared, after charges have already been taken.

The Britannic with-profits annuity has the edge over similar annuities in that the level of guaranteed income will rise as long as there is investment growth, whereas other with-profits annuities provide the same level of income throughout the investor&#39s lifetime.


ProVen turns to media

ProVen private Equity has introduced its media venture capital trust (VCT) that allows up to 15 per cent of the fund to invest in US media businesses. The ProVen media VCT aims to provide long term capital growth by investing in media related companies and those who help other companies promote their brand names by […]

Staking a solid future

of stakeholder. Thereafter, providers will be required to disclose precise cash amounts.It is likely that the industry will be divided over the method of the disclosure of charges adopted in the early years. This gives the Government the ideal opportunity to assess how helpful members find cash disclosure in practice, before making any final decision.Another […]

Clerical Medical – With Profits Bond

Friday, 19th January 2001.Aim: Growth and income by investing in Clerical Medical&#39s with-profits fund.Minimum investment: £5,000.Bonus rates: 4.7 per cent.Allocation rates: 100 per cent.Charges: Annual 1.3 per cent.Commission: Either initial 5.25 per cent, initial 4.125 per cent renewal 0.25 per cent or initial 3 per cent renewal 0.5 per cent.Tel: 0800 779090. 

Abbey Life appoints deputy managing director

Abbey Life is appointing Michael Green as deputy managing director, to succeed Chris Evans who is retiring. Green has been at Abbey Life, based in Bournemouth, since 1991 and will keep his responsibilities as company actuary alongside his new role. Abbey Life has restructured following its partnership with Unisys Insurance Services, who will provide administration […]

A guide to automatic re-enrolment

Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment. Johnson Fleming has produced a useful guide that provides essential information to help you […]


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