View more on these topics

Clerical scraps pension charge

Clerical Medical is axing the 1 per cent charge on stakeholder and personal pensions.

In a move to increase interest in the products, Clerical will give 100 per cent allocation on single premiums of £3,000 or more invested into a stakeholder or personal pension that has at least five years to go before maturity.

The offer will be available for new investors for three months from June 1.

Clerical Medical concedes there has not been a fast take-up of the products but it denies that they have been a failure and is confident that they can offer an effective sol-ution for a large number of consumers.

Pre-retirement planning marketing manager Martyn Nethercott says: “This offer will potentially help many people to make a start on investing in a pension in the future or for those who are looking to make further one-off contributions.”

Dennehy Weller managing director Brian Dennehy says: “I think the charges on stakeholder are so minimal that this will do little to prompt people to act. Short of compulsory contributions, which I favour, I think there is currently little that can be done to encourage more people to look at long-term savings.”

Recommended

Eire scheme aims to sidestep annuity purchase

An Irish firm is marketing a plan that allows big pension funds to be unlocked where an individual becomes a member of an occupational scheme in the Republic of Ireland. Dublin firm Business & Financial Planning is charging £35,000 for arranging transfers of UK pension funds to Irish schemes under an agreement between the two […]

Ingledew back to develop Barclays advice schemes

Former Berkeley Berry Birch chief executive Steve Ingledew has resurfaced at Barclays Financial Planning following his departure from the listed IFA earlier this year. Ingledew will be commercial director of the financial planning division responsible for developing its advisory proposition on the independent and tied sides. He will report to Jim Reeves who, as Money […]

Reid all about it

As depolarisation approaches, the clarity of offerings will emerge from the mist. It is this mist which has had the effect of softening some hard decisions and making some firms think that the menu will have a minor effect, almost tinkering or, if you like, a touch of the Ranieri. Recent articles on fee levels […]

PJB property is golden goose

PINDER FRY & BENJAMIN Gold 9 Type: Exempt unit trust Aim: Growth by investing in a central London office rented by international accountancy firm Ernst & Young Minimum investment: Lump sum £25,000 Investment split: 100% in a commercial property Place of registration: Dublin Closing date: July 14, 2004 Charges: Initial 4.96% Commission: Initial 1.75% Tel: […]

How do you choose the best online service?

By Ross Jackson, senior marketing manager There are many different protection online services available in the market and no doubt you’ll have used a few when submitting protection business. But why should you have to put up with slow, unresponsive sites for your business when you’re used to dealing with slick, modern user experiences in your […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com