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Friends Prov enhances pensions products

Friends Provident is enhancing its Pension Investment Bond and Retirement Investment Bond products.

The Pension Investment Bond will now offer loyalty bonus units of 0.25 per cent after ten years; a regular annual withdrawal facility of up to 7.5 per cent from the start of the plan both penalty and MVA free, and higher allocation rates on premium size from 108.3 per cent to 109.8 per cent.

Improvements to the Retirement Investment Bond include a loyalty bonus of 0.25 per cent after 25 months, a regular annual withdrawal facility of up to 7.5 per cent MVA free, and a reduced policy fee.

Friends Provident product manager, executive pensions Nigel Hancock says: "The improvements mean we can now offer two plans at the same market., or for those who operate in those markets."


Old Mutual appoints new boss

Old Mutual has appointed Clive Boothman as chief executive of its combined Capel Cure Sharp and Greig Middleton businesses. Richard Bernays who has been acting CEO of both CCS and GM becomes chairman of the combined businesses. Boothman, who spent most of his career at Schroders will take up his position on September 4 and […]

Mortgage board steps up consumer protection

Mortgage advisers should take professional qualifications as part of plans to improve customer protections says Mortgage Code Compliance Board chief executive Luke March. The plans include a “fit and proper” regime for brokers, and promotion of training and competence testing which would lead to the professional mortgage qualification. There are also plans to ensure the […]

Benefiting from the pre-April 2001 regime

This Bill is important to pension professionals because it is the enablinglegislation for the proposed changes to pension taxation which include thenew regime beginning on April 6, 2001.This new regime will encompass stakeholder pensions, new and existingpersonal pensions and those money-purchase occupational schemes which optto be included.The commentary to the Finance Bill 2000 contains a […]

Friends Prov Tokyo Trust given AA rating by S&P

An frAA rating has been awarded to the Friends Provident Tokyo Trust by independent research and analysis company Standard & Poor’s Fund Services. The award marks an upgrade from a single A rating for the Trust which this March had £82 million funds under management. Citing a robust investment approach and thework of their Japan […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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