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Friends foundation looks at giving for charity

Friends Provident is to use £20m in unclaimed shares from its demutualisation to set up a foundation aimed at promoting charity work and philanthropy.

The Friends Provident Foundation launches on July 14 with a debate and publication entitled, The Right Use of Money in 21st Century Britain, suggesting approaches that governments, private bodies, voluntary organisations and individuals might take to direct money to philanthropic purposes.

The publication, with 15 contributors from across the industry, is edited by David Darton and considers whether the lack of transparency in our financial systems is making it difficult for consumers to make informed decisions on charitable contributions. The essays also consider how individuals and foundations can ensure that their assets are used effectively.

Foundation chairman of the trustees John Whitney says: “In the area of social responsibility, Friends Provident has always been a leader and the trustees are determined to continue this tradition by ensuring the foundation uses its resources imaginatively to address social issues.”



“Projection rates have caused problems as they have to be based on information that is current and just look at the endowment problems. But I am unsure whether they should be scrapped.”Stewart Brooke,Brooke Christian & Co “The FSA should certainly do away with it. Projection rates are incredibly confusing and misleading. The 9 per cent […]

David Collett

One of the fastest consolidators in the industry is run by a man who started out in life selling motor oil. However, David Collett was not to be found behind a petrol pump or in a spare parts store. His first job after university was as a sales manager for American manufacturer Wynn&#39s, where he […]

Pension admin costs will soar due to Euro directive

The cost of running company pension schemes looks likely to rise sharply after the implementation of the insurance mediation directive in January, says the Society of Pension Consultants. Financial services committee chairman Mike Young says the IMD will bring a number of activities provided by third-party pension administrators under FSA regulation. He fears the move […]

Standard Life Investments boosts board

Standard Life Investments has strengthened its board with the appointment of three executive directors. David Cumming, Jonny Maxwell and Rod Paris have been appointed to the board. The move follows the appointment of Keith Skeoch as chief executive of Standard Life Investments on June 3. Head of UK equities David Cumming joined Standard in 1998 […]


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