View more on these topics

FSA urged to step in on pension credits

Scottish Equitable is urging the FSA to shoulder responsibility if the Government&#39s proposed pension credits leave some stakeholder savers out of pocket in retirement.

The company fears that, unless the FSA issues a clear statement giving life offices the green light to assume that the top-up payments will be in force by 2003, they may face redress from pensioners who would have been better off not to save.

ScotEq says life offices need to be confident that everyone putting money into their stakeholder schemes will benefit on retirement.

But because stake holder is available from April, life offices will be left to sell it for at least 18 months without being certain that pension credit will happen.

Experts believe the pros pect of a general election within the year also puts pension credit under threat.

ScotEq pensions development director Stewart Ritchie says: “Nobody wants low earners to pay into a scheme where they are not sure the investor will benefit and so for that reason I welcome the pension cre dit but I would equally welcome a clear statement from the FSA that we are entitled to assume pension credit will happen.”

Legal & General pension strategy director Adrian Boulding says: “We have not heard a reaction from other political parties about pension credit and if they would implement this policy.”


Chase de Vere pulls funds out of CGU fund

IFA Chase de Vere is moving £20 million of business away from the CGU PPT monthly income fund following the fund&#39s decision to slash the income paid out to investors last month. Chase de Vere independent adviser Ian Millward claims the fund failed to warn them about the cut from 7.8 to 6.3 per cent. […]

[News taxation] It&#39s a wrap

The Chancellor&#39s pre-Budget statement contained two ann ouncements which will have an impact on capital gains tax. The first of the proposals is that business taper relief will be extended to shareholdings by emp loyees in certain non-trading companies. Bus in ess taper relief is very valuable as it reduces the maximum tax rate on […]

[Technology] Synaptic&#39s system

The product research tools from Synaptic Systems have been developed by professional IFAs. They are in use by 7,500 IFAs, including directly registered firms, national chains and networks. The products are endorsed by the Institute of Financial Planning and by four of the leading compliance firms. We believe Synaptic&#39s products differ from our competitors in […]

Decision trees branch out

I usually hate the early morning alarm call on a dark, wet and windy Monday. A warm bed seems so much more enticing than thoughts of the long, unpredictable week ahead. Meetings, writing content for m-link, phone calls, lunches, email, more meetings- it must be time for a holiday. But, this week would be very […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm