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Broker talkback

Are you recommending alternatively secured pensions to clients who do not want to buy an annuity at 75?

No – 63%
Yes – 37%

No: “I work in the most northern part of Scotland so we don’t have many Plymouth Brethren. If the client’s profile warranted it, I would recommend an Asp. It should be brought to the person’s attention.”
Richard Bain, CRB Investment

No: “I do not have any clients in that age bracket yet but if I did I would be waiting for further clarity from the Government.”
Steven Walker, Clarion

Yes: “If the flexibility is in the client’s interests. If you keep delaying action because of potential Government mood changes you will never take any action.”
David Taylor, David F Taylor

No: “I don’t see why someone who has got certain religious or political beliefs should have access to a different type of product. I am not averse to recommending an Asp if it is in the client’s best interests.”
Jeremy Coates, AJS Independent Financial Advisers

No: “I would not be averse to recommending an Asp instead of an annuity. It is hard to know what to do because the Government might put a damper on it. I am going to recommend to clients they invent their own religion.”
Brian Causton, Causton Associates

Yes: “If the client does not want to take it when they retire we would always look at alternative types of drawdown.”
Steve Cherrett, Vintage Investment Services

Yes: “We are recommending Asps as alternative plans. We need to assess attitude to risk but it is a suitable alternative for some clients.”
Richard James, Financial Future Associates

No: “I don’t have anyone in that category but it is ridiculous that the regulation still stands. Why does there have to be an age limit?”

Allan Reece, Allan Reece Associates

Money Marketing welcomes readers’ letters for publication. Letters should be sent to: The Editor, Money Marketing, 50 Poland Street, London, W1F 7AX.


Deer prudence

Central banks are not there to give stockmarket traders a free ride and last week’s decision by the Fed to pause its rate-raising programme did little to reassure investors. We should not be surprised. Ben Bernanke’s team are very cognisant of the inflationary pressures that are swirling around the global economy and it would be extremely foolish to ignore their potential impact. However, the same team seem quite politically aware and I wonder if they are more interested in keeping growth going at the expense of inflation. This has meant that the Americans are having to listen to a new term to them – but sadly one more familiar to those of us of a certain age in the UK – stagflation.

PPF levy invoices to go out in September

The Pension Protection Fund will send out its levy invoices for 2006/07 from September. Included with the invoice will be details of how the amount was calculated and the PPF has also added a help area on its website, including Faqs about the invoices.


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