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Clock ticks on mis-sold pensions

Millions of people who were mis-sold pensions have until Friday evening to make a claim against their insurance company.

Over three million people have had letters asking them if they want to apply for a review of their pension.

So far, only one million have replied, raising fears that many people will not get the compensation they are owed.

Since a review of the pensions scandal began in 1994, 400,000 people have received £3bn worth of compensation, on average £7,500 each.

The FSA says victims can still get compensation after Friday&#39s deadline by going through their pension company&#39s normal complaints procedure.


ScotEq moving into protection

Scottish Equitable is to enter the individual protection market thisautumn with products including term insurance, critical-illness andkeyperson cover.The range, which is likely to be menu-based, will allow IFAs to mix and match the cover to fit with customers&#39 needs.ScotEq believes the move will be complementary to its existing businessareas of personal pensions and investment bonds. […]

A&L cuts mortgage rates

Mortgage bank Alliance & Leicester is launching rate cuts on its two year fixed rate and five year buy-to-let mortgages. The two year fixed rate will move to 6.19 per cent from 6.49 per cent and the five year buy-to-let rate will reduced to 7.39 per cent from 7.59 per cent. First time buyers will […]

Deutsche Bank head quits

Dresdner Bank chief executive Bernhard Walter announced his resignation effective the end of April in the wake of the collapse of the merger with Deutschebank.The merger will not go ahead easing fears that both German giants&#39 UK fund management operations might have merged as a result.The merger fell apart earlier this week, after Walter voiced […]

Reinventing the will

What holds people back from buying financial services products?Often it is fear of buying the wrong thing or it can be simply not knowingthat a product is available.IFAs have for many years filled the market need for someone to say “thisis right for you”, giving them the confidence to buy, safe in knowledgethat it is […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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