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Cap increase needed to incentivise providers – Smith

The Government&#39s price-capped medium term investment product and pension product will both carry a maximum annual management charge of 1.5 per cent for the first 10 years that the product is held and 1 per cent thereafter.

A statement from Department for Work and Pensions secretary of state Andrew Smith says the increase in the charge is needed to incentivise providers to market products to the public.

Smith says: “The new structure will incentivise providers to market the new stakeholders more actively, and continue to guarantee a very good deal for the customer. Because the charge falls after 10 years, people will be encouraged to save for the long term.”


Women of the world

My partner and I want to ensure our financial arrangements are in order so we can travel the world in later years. As we are both female, I am aware that we need to be more organised than other couples, especially should anything happen to either of us. What advice can you give us? In […]

Make the introductions

By electing to be introducers, mortgage advisers can lighten the pressures of multi-tasking and dealing with regulatory hurdles while boosting income as well. Of the 60,000 Cemap/ Maq-qualified mortgage advisers registered with the MCCB to provide advice (including support staff), 20,000 are in the category of firms with one to five consultants. Around 11,000 practices […]

Independent view – Harry Katz

Tony Byrne voiced what is probably the view of the majority in his criticism of Europe. I am pleased to have been given the opportunity to put a contrary view. It is not so much that life outside the EU would be that much worse but inside it we have the chance to be so […]

Don&#39t tar us all with same brush

Dear Financial Services Consumer panelConsumer confidence is being eroded on a daily basis by commentators who tar the entire industry with the same brush. The real culprits are Gordon Brown with his tax on pension funds, MPs in the Treasury select committee who are out to make a name for themselves, so-called consumer bodies who […]


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