View more on these topics

Eagle Star revamps drawdown plan

Eagle Star Life has revamped its flexible drawdown plan by increasing the fund range and adding more commission options.

This hybrid Sipp provides access to 36 Eagle Star Life funds and 12 external funds from managers including Fidelity, Gartmore and Henderson. The previous version of the Sipp allowed investment in up to six funds at one time, but this version increases this limit to 20 funds.

The previous version of the product offered just two commission options, whereas the new plan has three. Option A offers a high level of initial commission but no renewal. Option B has a lower level of initial commission with renewal and is also offered on a nil-commission basis. Option C is a high allocation option that pays renewal commission only.

Eagle Star&#39s plan offers more funds than similar products from Scottish Widows and Norwich Union. The Scottish Widows income drawdown plan allows investment in up to 10 funds from a range of 15 internal and 8 external funds. The Norwich Union income drawdown plan, called self-invested personal pension, is even more limited as no external funds are available. It allows investment in a maximum of six funds from a range of 17 internal funds.

According to Standard & Poors, 12 of the Eagle Star pension funds are first quartile, four are second quartile and one is third quartile based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to April 15, 2002. There is no three-year past performance for the remaining funds.


Buoyant homes market encourages gazumping

One in 10 homebuyers will resort to gazumping to ensure they get their dream home, according to a quarterly survey by Yorkshire Bank.With many properties selling within days of being put on the market, Yorkshire found that a significant proportion of the 2,000 homebuyers questioned in March were prepared to adopt underhand tactics in pursuit […]

Split-cap blame lies elsewhere

IFAs and their clients have been let down on split-caps.Zero-dividend preference shares were classified as low risk and income shares as low to medium risk.This classification is clearly written on key features documents approved by the regulator.We pay the regulator around £30m a year and we have every right to expect it to be accountable […]

Yorkshire unveils new loan range

Yorkshire Building Society is launching a range of flexible mortgages including fixed, discount and tracker products.Its new flexible tracker mortgage has a rate of 3.95 per cent – 0.05 per cent below the Bank of England rate – for two years. It is available up to a loan to value ration of 95 per cent. […]

Membership drive will raise funds for children&#39s charity

The Catholic Building Soc-iety is running a new marketing campaign to help it raise £130,000 for charities over the next four years and to increase its membership.The member get member initiative is designed to promote greater loyalty among its members, as well as provide financial support to the children&#39s charity The Railway Children.CBS donated £18,000 […]

Benefits - thumbnail

Global benefits predictions for 2015 from Jelf International

According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.


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