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Darling appoints new Opra chairman

Social Security Secretary, Alistair Darling has appointed Harriet Maunsell OBE (57) as new Opra chairman from 1 April 2001. She replaces John Hayes CBE who retires on 31 March.

Maunsell has been a member of Opra since 1997 and was deputy chair of the Occupational Pensions Board for five years. She was a partner with Lovells international law firm for 17 years until retiring in 1997.

Maunsell will play a key role in enforcing compliance with occupational pensions legislation and helping safeguard the interests of members of occupational schemes.


Nationwide puts Isa on the cake for Tessa holders

Nationwide Building Society has designed its Tessa Maturity Isa for savers who have matured tax exempt small savings accounts (TESSAS). This Cat standard mini cash Isa allows investors to put their money in an instant access account that offers interest at 6.55 per cent gross a year. Nationwide feels there will be a demand for […]

Closing in on property

Turning to the type of client the product is most suitable for, Cooke says: “A client who believes in the residential property market and has a long-term view without income needs.” Cowell says: “A sophisticated investor – this type of scheme does not readily lend itself to the mass market.” Vaughn thinks it is difficult […]

Pru plans to merge its broker and ScotAm sales teams

Prudential is understood to be seeking PIA app roval to merge its intermediary and Scottish Amicable&#39s sales teams. ScotAm operates as Prudential&#39s IFA division and has a salesforce of about 115. Pru&#39s intermediary salesforce has about 175 staff. ScotAm says the need to drive down distribution costs is responsible for the restructuring and it is […]

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(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


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