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Govt plans to bring in net retirement planner

The Government is aiming to introduce an online retirement planner that

will tell people about their current provision and what they should do to

provide for their old age.

The Department for Work and Pensions is consulting with providers on the

pension portal project unveiled in the Green Paper last month and will look

to build on the online pension calculator launched by the ABI and FSA in


The DWP wants the system to show total projected pension income, estimate

what an individual might need and illustrate options for addressing any

shortfall. The portal would be accessed through the Government gateway

service and could give advisers access to clients&#39 details in the same way

that accountants are entitled to operate online with the Inland Revenue on

their clients&#39 behalf.

Financial Technology Research Centre director Ian McKenna says: “IFAs

should not see this as a threat. Direct offices that have historically been

reluctant to give pension information to IFAs will find it hard to say no

to the Government. A system that allows an adviser to aggregate all the

pension information from a client&#39s schemes will leave advisers more time

to give advice.” director Ashley Clark says: “Provided there is still

adviser involvement, this could be a brilliant tool – anything that enables

a client to be better informed helps them understand their potential

savings gap. But as this technology develops, IFAs who do not have a real

commitment to e-commerce will lose out.”


Bafta night for Forum

The Financial Services Forum is holding its third annual members&#39conference on February 26 at the British Academy of Film and TelevisionArts on Piccadilly in London.Contributors to the conference include Abbey National marketing directorJanet Connor, First Direct head of brand Nick Bowyer and AMP head ofthird-party distribution Damon Watkins. All members of the FinancialServices Forum are […]

Britannia Building Society – Guaranteed Capital Equity Bond

Tuesday, 7 January 2003 Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £500-£500,000 Term: Five years Guarantee: Capital returned in full at end of term regardless of movement in index Return: Up to 35% growth at end of term Closing date: March 6, 2003 Commission: None […]

Put your views on pension plans

The Pensions Green Paper proposes the most radical shake-up to tax andother rules governing pensions for many years and will affect the adviceyou should be giving immediately.On February 6, Taxbriefs is holding a Sofa-sponsored conference in Londonon the ramifications of the review.Speakers will include Secretary of State for Work and Pensions Andrew Smithand the leader […]

Remortgages keep the market buoyant

The housing market stayed buoyant in November last year, with gross lendingleaping to £20.5bn from £15.3bn at the same time in 2001,according to latest figures from the Council of Mortgage Lenders.But the figures show a fall from £21bn in October and the CML says thestrong market was maintained by high levels of remortgaging.Remortgaging in November […]


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