View more on these topics

Government to intervene over missold endowments

The Government says it will intervene to protect individuals, if it finds widespread misselling of mortgage endowments according to the Financial Times.


The trade and industry secretary Stephen Byers says he will take action if the Treasury finds evidence of misselling, which is believed to have occurred in the lates 80&#39s and 90&#39s.


He says: &#34We are looking at the moment to see the depths of the problem and if there is clear evidence that there has been widespread misselling of mortgages, particularly as far as endowments are concerned, then yes, we will take action to protect those individuals.&#34

Recommended

Aon fights employers&#39 corner in stakeholder debate

Aon Consulting is calling for employers not to be held responsible if a stakeholder pension performs badly.Aon says a key factor in making stakeholder pensions work will be to keep the burden on employers to a minimum.Although it says it is too early for employers to take any action on stakeholder, Aon believes it may […]

CIS announces 24 per cent jump in new business

CIS new life, pensions and unit trust business rose 24 per cent for the first nine months compared to the same period last year.And equivalent premium incomes increased to £226 million from £182 million last year. Since launch, CIS has opened more than 100,000 new Isa accounts and 70,000 regular payment trusts, and sales of […]

Autif blames Isa for savings fall

The introduction of Isas has almost halved the level of regular savings being made, according to figures by the Association of Unit Trusts and Investment Funds.Investment in regular savings plans fell from £431m in the first quarter of this year to £243m in the second quarter. Isas were launched on April 6.Between April and the […]

Pensions Management Institute fears defined benefit schemes could be sidelined

The Pensions Management Institute fears the proposed tax changes to pensions will marginalise defined benefit schemes.It is warning that unless concurrent membership is allowed, the proposed tax changes will erect a barrier between stakeholder pensions and DB schemes.To overcome this, the PMI says a way must be found to let members of defined contribution and […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment