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Charity attacks LTC delays

The Government&#39s delay in deciding how to fund long-term care has been attacked by the Help the Aged charity.

Last week it was announced further work was needed before changes could be made following a series of set-backs on the project by the Royal Commission.

The financial services industry welcomed the promise of discussion on how to make insurance products that fund long-term care more desirable.

The industry is pressing the Government to alter annuity rules so individuals can draw on their pension fund to pay for long-term care. So far only 30,000 such products have been sold.


Pru on hunt for buys as it bids to be Goliath of the industry

The Government has revealed radical plans to subsidise the low-paid tostay in occupational pension schemes.The move will ensure the low-paid do not stop contributions and rely onthe state.It has been welcomed by the National Association of Pension Funds andpension providers.The NAPF has repeat edly warned the Government about the damage itspension reforms could do to […]


On 18 October 1999 the Inland Revenue issued a press release announcing certain changes to the regulation of overseas life assurance business (OLAB). These changes are set out in the Insurance Companies (Overseas Life Assurance Business (Compliance) (Amendment) Regulations 1999. These regulations will make it easier for life insurance companies operating in the UK to […]

CA calls for Barclays to compensate customers

The Consumers&#39 Association has called for pay-outs to be made to ex- Barclays Bank mortgage borrowers.The watchdog believes customers may have been unfairly stung with big penalties for surrendering loans early. NatWest has repaid cash to 7,000 ex-customers hit with high charges for surrendering mortgage deals early.CA principal money researcher Neil Walkling, said: “Some of […]

ABI quality mark

The ABI is aiming to shake up the financial services industry with a new Quality Mark which no firm may yet have reached.It says it has been forced to act to clean up the tainted image of the industry caused by the pension misselling scandal and overly complex products.The Quality Mark will be awarded for […]


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