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IMA slams Treasury over price cap

The IMA has slammed the Treasury&#39s decision to raise the price cap to 1.5 per cent, saying it will make the products expensive and likely to harm investors.
Chief executive Richard Saunders says: “This proposal does not seem to us to have been thought through. Charging 1.5% to some retail investors and 1% to others would add considerably to the complexity of the product and consequently increase administrative costs. Tracking individual investments and withdrawals for the purpose of reducing the charge to 1% would add further layers of cost and complexity.”


Myra Kinghorn is first Pension Protection Fund chief executive

Myra Kinghorn, currently a non-executive director of the Serious Fraud Office and a member of the OPRA Board, has been appointed chief executive of the Pension Protection Fund. Secretary of State for Work and Pensions Andrew Smith says: “The breadth of experience and expertise in the financial and pensions world that Myra brings to the […]

Your commission: should you choose to accept it?

I feel the need to rebuke Best Invest&#39s Mr Spiers&#39 comments in the Money Marketing issue of June10. He says that despite the honesty of an IFA, the IFA will “favour products with the highest commission”. I wish to know who he thinks he is, taking it upon himself to decide the business ethics of […]

Treasury set for retreat on 1% cap

The Treasury is set to concede the 1 per cent argument, pushing up the price cap to 1.5 per cent for its suite of Sandler products. The much anticipated ann-ouncement regarding the price cap is due this week, with a major policy reversal coming from the Treasury. With industry big hitters such as Norwich Union, […]

Legal & General – Managed Bond Fund

Type: Unit-linked fund Aim: Income by investing in Legal & General&#39s Fixed Interest Trust and High Income Trust Minimum investment: Lump sum £5,000 via Legal & General&#39s Investment Bond Investment split: 70% Fixed Interest Trust, 30% High Income Fund Charges:Investment Bond establishment fee 0.5% a year for first five years, initial charge 1.25%-2.5% for investors […]

Nigeria cover image - thumbnail

White paper — Nigeria International Insights

Jelf Employee Benefits closely examines healthcare provision and challenges within Nigeria. This will be of particular interest to HR decision makers with employees based in Nigeria, and assesses the environment, risks, facilities and safeguards that are relevant to organisations that are actively deploying expatriate staff in this location.


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