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Five firms accredited for long-term quality

Raising Standards has reaccredited five brands under its quality mark scheme for the long-term savings industry.

CIS, Eagle Star, Police Mutual, Scottish Widows and Zurich have completed a “rigorous” examination and re-approval process by the scheme&#39s independent assessment body, the Pensions Protection Investments Accreditation Board.

Raising Standards says it has been rewarded for its efforts with tangible, positive recognition from the FSA and policymakers. It says the regulator has pointed to Raising Standards&#39 principles and practices of financial management document as an example of consumer-friendly practice.

PPIAB chairman Michael Bett says the organisation has three years&#39 experience in assessing brand applications and he is convinced of a culture shift taking place as a result of brands attaining and maintaining Raising Standards&#39 accreditation.

He says complex jargon is a significant barrier to consumer confidence and that some customers see the Raising Standards-style documents as a considerable improvement.

PPIAB chief executive John Cox says: “I congratulate these five brands on their successful reaccreditation. This is a clear demonstration of the industry&#39s unremitting commitment to maintaining the standards and lead continuous performance improvement, meeting consumers&#39 needs for clearer documents and high-quality service.”


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Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.


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