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IFAs urged to review employers&#39 life cover

Royal & Sun Alliance is urging IFAs to use stakeholder&#39s introduction to review employers&#39 life cover.

It says many advisers will be reviewing employers&#39 pension arrangements against the 1 per cent benchmark, which should allow the opportunity for unbundling risk benefits from the pension arrangement.

It says employers have usually opted for a bundled approach by making death-in service arrangements and income protection plans through their pension provider.

R&SA says IFAs are overlooking the need to review risk benefits to ensure continuing relevance for employees and the products&#39 value for money.

It believes many firms have not reviewed the terms, conditions or pricing basis of employee benefit packages and some will find themselves with increasingly uncompetitive, costly and potentially outmoded risk benefit cover.

Corporate market leader Peter Anderson says: “There is an obvious need for IFAs to focus on control and co-ordination of clients&#39 benefit packages. Unbundling can make a big difference to costs and terms and conditions, which can outweigh the cost of using a second provider.”


Fidelity cuts Pep transfer fee

Fidelity is waiving its 3.25 per cent transfer fee on all switches from its single company Peps into any of its Pep-qualifying investment funds. The move follows changes in the Pep legislation, introduced at the start of the new tax year, which permit investors to switch from single to general company Peps for the first […]

UK selection from ABN Amro

ABN AMRO UK Select Opportunities Fund Type: Unit trust. Aim: Growth by investing in small, mid and large-cap UK companies.Minimum investment: Lump sum £1,000, monthly £50. Isa link: Yes. Pep transfers: Yes. Charges: Initial 5 per cent, annual 1.5 per cent. Special offer: Initial charge reduced to 4 per cent, and 3.5 per cent for […]

UK equity funds see slide to 10-year low

UK equity funds have suffered their worst 12 months in more than a decade, with the average return for the year to April down to -21.3 per cent, according to fund research firm Lipper. Lipper&#39s research shows the year to the end of December 1990 was the last 12-month period to see an equi- valent […]

Britannia lowers mortgage rates for loyal clients

Britannia is introducing lower mortgage rates for loyal borrowers. Borrowers who have had their current mortgage for 10 years or more will pay a standard variable rate of 6.59 per cent and five-year borrowers will pay 6.79 per cent. The standard variable rate for borrowers still in their first five years is now 6.99 per […]


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