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Federation of Small Businesses to launch Nest rival

The Federation of Small Businesses plans to launch a low-cost pension scheme which will be made available to its 200,000 employer members.

The trade body is developing the FSB pension scheme with pension provider Scottish Widows and IFA firm Independent Financial Services.

FSB national policy chairman Mike Cherry says: “When auto-enrolment into pensions comes into force for the smallest businesses, there will be administrative burdens and confusion around costs and processes. That is why the FSB has developed its own scheme.

“This workplace solution has been designed to make the entire process easier for FSB members and their employees. Many of our members will value the advice and support they can access through this service. It is important that small businesses can be on the front foot when auto-enrolment begins for them.”

Scottish Widows head of corporate pensions propositions Pete Glancy says: “This proposition will enable small businesses to be better prepared and greatly reduce the potential cost and logistical impacts that could derail their business.”



European Commission suggests Mifid II “compatible” with RDR

The European Commission says it expects the RDR to be compatible with Mifid II despite the current draft of the new directive only focusing its proposed commission ban on the independent sector. In a draft of the directive, published last month, the EC stated that its ban on commission would only extend to independent advisers. […]


Ian McKenna examines new Friends Life protection offering

This week sees the launch of the new Protect plus from Friends Life. This replaces the individual protection offerings from Axa, Bupa and Friends Provident. None of the afore-mentioned were slouches when it came to delivering technology and, for over a decade, Friends have actually been one of the leading innovators, so it is reasonable […]


UK GDP grows by 0.5% in Q3

The UK economy grew by 0.5 per cent in the three months to the end of September, according to figures from the Office for National Statistics. The UK economy’s growth picked up momentum in the third quarter of the year, the latest official figures show. This is the organisation’s first estimate and is subject to […]


Up to half of Money Advice Service staff to lose their jobs

The Money Advice Service has put up to half of its staff on consultation after a review of its products, services and delivery channels. A MAS spokeswoman says staff were informed yesterday of “organisational changes” that will be implemented as a result of the review. She refused to comment further on the changes or disclose […]

Three catalysts for European equities

By Rob Burnett, Manager of the Neptune European Opportunities Fund In recent weeks, the bear case for European equities has become more pronounced on the back of weaker-than-expected GDP data and deflation concerns. This softening in economic momentum has led some investors to question whether the ECB is behind the curve and indeed whether it […]


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. aninterestedparty 3rd November 2011 at 1:57 pm

    Thats the third one to come to market in as many weeks (counting NEST as the first). How many more will there be by April 2012 I wonder? No mention of the charges or investment options in this one though unlike the Danish option highlighted earlier this week. I wonder how close the “link” is with IFA firm Independent Financial Services and what the deal is there?

  2. Nice earner for the FSB?

  3. Everything the FSB does is to line their own pockets…. Rest assured I bet their management are taken well care of at the Employers expense!

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