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ICS extends levy deadline until October

The Investors Compensation Scheme is extending the deadline for payment of the second instalment of this year&#39s levy from August until October 15 and says it does not anticipate an increase in the levy.

The extension is because the change from four to two annual instalments to get ready for N2 caused a delay in the first set of invoices being issued. They went out in June and July rather than May. The ICS says the levy for this financial year will raise £57.9m from providers and IFAs.


NDF Administration – NDF Income Plan

Wednesday, 15 August 2001.Type: Guaranteed Income Bond.Minimum-maximum investment: Lump sum £10,000-£1m.Term: Six years and two months.Return: 6 per cent income in first year, thereafter income is linked to the dividends paid by the FTSE 100.Guarantee: 100 per cent capital return.Commission: Initial 3 per cent.Tel: 01727 734315.

MarketPlace – Buy-to-let Stepped Discount

Tuesday, 14 August 2001.Type: Discounted rate tracker mortgage, exclusive to Bradford & Bingley IFAs.Discounted term: Three years.Discount: Bank of England base rate plus 0.4 per cent in first year, Bank of England base rate plus 0.5 per cent in year two, Bank of England base rate plus 0.65 per cent in year three.Payable rate: 5.4 […]

Omo move could hit annuity rates

FSA plans to force life offices to highlight the open market option on annuities may see normal annuity rates fall, according to Institute of Actuaries president Peter Clark.The forecast follows FSA plans to compel insurance companies to clearly promote policyholders&#39 rights to shop around for the best annuity rate ahead of making their buying decision. […]

Goodfellows introduces

The mortgage payment protection market has seen a new entrant with the arrival of Goodfellows’ online subsidiary package is available for most members of the working population, although applicants must be working for a minimum of 20 hours a week. They must also have been working continuously for the previous six months.There are three […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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