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Cater Allen account offers 6% for pension funds

Cater Allen Bank has set up a new interest band paying 6 per cent for


balances above £1m on its pension fund high-interest cheque account.


The move follows complaints from pension fund trustees who felt they were


not getting good enough returns from high-street banks.


The Abbey National-owned specialist pension banking service says it


designed the account with the help of professional pensioneer trustees.


The account targets professionals who manage pension fund cash balances


and are seeking high interest for clients&#39 uninvested exempt cash.


The account also features simplified account opening and summary reports


showing balances on all accounts.

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