View more on these topics

Clerical&#39s GPPs still being sold via benefit firm

Clerical Medical is still selling pensions in the group market through former Equitable Life employee benefits arm EB Solutions despite pulling out of the IFA market.

Clerical says it plans to relaunch its brand in the IFA channel ahead of its re-entry into the group pension market early next year.

While it scotched rumours that it is continuing to sell through selected IFAs, it says the Clerical brand is still active in the group market through EB Solutions although with a separate range of products from Clerical&#39s core group range.

Halifax subsidiary St James Place is also selling Clerical group pension products, with sales processed through a separate back-office system.

The news follows Clerical&#39s withdrawal from the group pension market last week due to admin overload until Q1, 2002.

Following ScotAm&#39s indefinite withdrawal of initial commission on regular-premium business, meaning that any plans to be a major stakeholder provider have been shelved, Clerical is keen to curb any parallels between the two providers.

Pensions strategy manager Nigel Stammers says: “We did not opt to simply remove commission because we would only do that if IFAs wanted us to and this is not an open-ended withdrawal. As well as remaining successful in individual pensions and other areas, we are looking at plans for a relaunch into the group pension market, while we realise for advisers the proof of the pudding will be in the tasting.”


GMAC enters buy to let with two fixed loans

GMAC Residential Funding is offering two flexible fixed-rate buy-to-let mortgages as part of its aim to offer loans across all market sectors. The mortgages are fixed until October 2003 at either 6.25 per cent or 6.55 per cent depending on loan to value. Both mortgages then revert to GMAC&#39s variable rate of 6.74 per cent. […]

Time is on your side

Last week, heading towards the end of this series of art-icles on key aspects of pension drawdown, I illustrated the tolerance to interest rate reductions within drawdown contracts. This showed that, given a stable residual investment fund, the eventual annuity which may be purchased by each £1,000 may remain stable or even increase beyond the […]

Chelsea Building Society – 2 Year Fixed Rate Bond (10th issue)

Wednesday, 22 August 2001.Type: High interest account.Minimum-maximum investment: £1,000-£500,000.Interest rate: 5.65 per cent.Term: Until December 1, 2003.Offer period: Until further notice.Withdrawal penalties: 60 days&#39 loss of interest.Tel: 0800 779087.

Scottish Mutual takes the dual index highway for income

The Scottish Mutual income bond is taking a dual-index road to themarket.Created as a guaranteed income bond for investors who are lookingfor a product that gives them a choice between an income andgrowth, the bond will be linked to a basket of 30 stocks chosen fromtwo indices, the FTSE 100 and S&P 500.The 30 stocks […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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