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Government to allow parallel pension holdings under stakeholder

The Government will announce today that it is prepared to allow people to hold more than one pension plan at a time according to the Financial Times.

The plans outlined within the final consultation paper on stakeholder pensions, postpones a final decision on the issue but indicates ministerial backing for the idea.

The FT says ministers favour the concept, but only on two conditions. First compliance issues must be settled such as how to prevent abuse of tax relief.

Secondly the industry must still want parallel holdings once it has seen all the details regarding the new tax regime.


Voucher system proposed for advice on stakeholder

Friends Provident is urging the Government to introduce a voucher system to ensure people receive adequate advice on stakeholder pensions.The system would provide the stakeholder with a voucher provided by either the employer or the Government to be redeemed in exchange for advice.Alternatively, the life office says an additional charge should be costed within the […]

Thinktank chief wants a radical pension overhaul

The chairman of two DSS-backed industry thinktanks has blasted theGovernment for being “too chicken” with its plans to reform pensions.Aon Consulting principal Tom Ross, who holds an OBE for services to thepoension industry, believes far-reaching changes are needed. He chairs thestakeholder pensions advisory group and the pension provision group. Hewants to see:The scrapping of all […]


Pearl teams up with Intuitive for sales support system

Pearl Assurance has chosen Intuitive Systems to develop a sales support system for its 1,700 sales force. The life office is developing the programme in a bid to improve the quality of its customer service. It will provide it tied sales force with reports and ’ why letters’ Pearl project manager Paul Fuller says: ” […]

Pru to review 300,000 endowment policies

The Prudential is currently in the process of reviewing 300,000 mortgage endowment policies to ensure customers are on track to repay their loans.The life office is currently unsure how many of its customers are facing a potential shortfall. But the Pru says once it has established this figure it will to write to those clients […]


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