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Finance Bill creates six pension regimes

The Government&#39s tax simplification project has created six different regimes rather than one says PricewaterhouseCoopers.

Commenting on the publication of the Finance Bill last Thursday, PricewaterhouseCoopers says that rather than one regime, the rules create six – registered schemes, employer-financed retirement benefit schemes, overseas recognised schemes, overseas unrecognised schemes, Section 615 schemes and corresponding accepting schemes.

PricewaterhouseCoopers UK chief actuary Trevor Llanwarne says: “The fact that we are back up to six regimes and that over a quarter of the Bill&#39s 550 pages are devoted to pensions issues illustrates how complex it is to actually deliver simplification.”


Credit Suisse sets target for returns

Credit Suisse Asset Management is offering a fund investing in a wide selection of global fixed-income opportunities with a new investment concept it calls “target return”. First revealed in Money Marketing in February, the fund addresses investors&#39 needs for a product that targets a certain level of positive return within a strict risk control framework. […]

Keydata Investments – Extra Income Plan 8

Type: Capital-protected bond Aim:Income or growth linked to the performance of the Dow Jones Eurostoxx 50 Index Minimum-maximum investment: £5,000-no maximum,Isa £7,000 Term: Five years Return: 6% income a year, 1.46% income a quarter or 33% growth at end of term Guarantee: Original capital returned in full provided the index does not fall by more […]

AIFA&#39s view

It was about halfway through the Money Marketing awards – probably the award for best bus shelter advertising campaign by a protection provider – that a thought struck me. Whenever you get depressed with the acronyms and jargon in this great industry of ours, remember there is always someone worse off than yourself. You could […]

Watchdog staff get bonuses to speed up cases

The Financial Ombudsman Service has come under fire for offering its staff bonuses for completing cases quickly. In an interview with Radio 4 programme Money Box, chief financial ombudsman Walter Merricks confirmed that staff get a bonus if they meet and exceed targets for closing cases. He denies that this encourages a bonus culture but […]

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]


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