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Bumper year for pension funds

UK pension funds recorded a bumper 1999 with iinvestments on average growing 20.6 per cent.

This compares 14 per cent in 1998.

Average returns for the decade of the 1990s was 12.5 per cent a year.

WM Company executive director Peter Warrington says: “This was an incredible year, with an end-result beyond most people&#39s expectations.”


NatWest Life quits endowment market

Endowment mortgages have taken another bashing with NatWest Life pulling out of the controversial home-loan investment plans.Natwest is following Pearl Assurance, Halifax and HSBCs withdrawals from the endowment market.Just 5 per cent of new mortgages currently being sold by the bank are endowments. About half its 280,000 customers already hold endowment-linked loans.The reputation of endowments […]

Watchdog crackdown on mortgage selling

New legislation is to be revealed by Chancellor Gordon Brown next week aimed at tackling mortgage misselling.Experts are expecting Brown to disclose the new legislation at a private visit to the Financial Services Authority, which is expected to give the regulator direct power on mortgage selling and force the use of Cat standards.The move follows […]

ABI euro push

The Association of British Insurers is bracing the industry for the introduction of the euro by publishing details of three initiatives.The ABI is set to reveal details from an ongoing programme of work with the aim of providing comprehensive and detailed guidance to help insurers prepare for a possible entry into the Euro.The second publication […]

NatWest drafts in Lloyds TSB top gun for survival fight

National Westminster Bank is drafting in a Lloyds TSB boss to help in its fight agains hostile takeover bids by Bank of Scotland and Royal Bank of Scotland.The bank is taking on Gordon Pell from Lloyd&#39s TSB to head-up its UK banking operations.Pell, 49, had recently been given responsibility as group executive director of retail […]


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