View more on these topics

Concurrent concern at top-ups

Investors in pension top-up plans could be embroiled in a misbuying

scandal if the Government allows partial concurrency on stakeholder.

Pension providers warn if partial concurrency is offered, tens of

thousands of people paying top-ups to their occupational scheme could lose

out.

Trustees are legally prevented from providing advice to scheme members.

Providers fear people will continue to make payments to AVC schemes,

oblivious to the fact they may be

better off in a stakeholder. Stakeholder is likely to be cheaper, more

flexible on benefits and offer a cash lump sum on retirement.

Carrington Investment Consultants director Mike Hodges says: “We

anticipate everybody will need to be contacted and advised to make sure

what they are doing is in their best interests.”

Clerical Medical pensions strategy manager Nigel Stammers says: “Partial

concurrency will bring the need to review all FSAVC and AVC arrangements of

those eligible for stakeholder.”

Recommended

Bupa move to tackle rising premiums and attract IFAs

Bupa is offering a comprehensive health cover product in a bid to tacklerising premiums and bring more independent advisers into the healthprotection market.The company says its Fixed Price Plus plan offers premiums up to 65 percent lower than equivalent insurance schemes.Bupa is hoping that the lower prices will attract more IFA clients.The new product features […]

Perpetual to prosper as old guard recovers

The surge in old-economy stocks looks set to reverse the fortunes of Perpetual. Traditional income funds are on course for a recovery as the technology boom has been pinned back in recent weeks with investor sentiment shifting to the traditional stocks such as retailers and brewers. Perpetual has been criticised for avoiding technology and telecom […]

In good time

How do you clock up your 50 hours of continuing professional developmenteach year? Is attending conferences an enjoyable way to make up the hours?Or is sitting back and reading the trade press a good way of keeping up todate with the industry?CPD requirements are set to change later this year with the introductionof new rules. […]

AIM outdraws FTSE 100

The AIM attracted 46 companies raising a total of £472m during the first quarter.This is compared to the FTSE 100 which drew in 13 companies worth a combined £889m during this period.AIM&#39s advantage is that it does not make the same stringent requirements on companies as does the FTSE 100. On that index, a lengthy […]

thimbnail

Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment