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Irish Parliament: more room for charges

The Republic of Ireland has unveiled its planned stakeholder-style pension, the Personal Retirement Savings Account, but without the tough charging regime.

The new pension shares all the hallmarks of stakeholder, including an emphasis on portability and flexibility, but the products have charges capped at 5 per cent of contributions and 1 per cent of total assets.

Scottish Equitable pensions development director Stewart Ritchie says: “It is interesting that a country with a pension system so similar to ours should do what the UK has done in principle but feeling they need more room for charges. It is an interesting independent view.”


Advisers&#39 anger at LeggMason moves to cut commission

LeggMason Investors has been slammed by IFAs for direct-mailing their clients with det-ails on new products and cutting out their commission.IFAs says LeggMason has provided Johnson Fry Pep planholders with specific maturity details while giving IFAs only generic sample letters. LeggMason took over Johnson Fry in December 1999.Investors will pay no initial charge if they […]

L&G is set to withdraw Isa mortgage package

Legal & General is set to withdraw its Isa-linked mortgage package, citing plummeting sales of interest-only loans as the reason for the move.From May 18, L&G is pulling the plug on its Isa-backed flexible mortgage to concentrate on selling family protection products such as term insurance, critical-illness and mortgage payment protection insurance.It says the withdrawal […]

IFA going online for 24-hour sales

Riach Independent Financial Advisers is setting up a website which offers users the chance to buy financial products direct.The website at www.logon aims to remove the paperwork associated with buying a wide range of financial products such as unit trusts, Isas, mortgages and life insurance.Principal Bob Riach says IFAs not using the internet may […]

Threadneedle Pensions – Balanced Pathway

Monday, 1 May 2001.Type: Pooled pension fund.Aim: Growth by investing in bonds and equities.Minimum investment: Lump sum £1,000.Investment split: Property 2 per cent, overseas bonds 8 per cent, overseas equities 38 per cent, UK bonds 15 per cent, UK equity 37 per cent.Charges: Annual 0.35-0.85 per cent.Commission: None.Tel: 020 7464 5691.

Looking back at 2015

By Fiona Tait, Pensions Specialist 2015 was quite a year for pensions. Change, more change, and proposed changes to the changes. The Spring Budget – pre-election plans With everything that has happened since, it is hard to remember what happened in March. Following on from the bombshell of the 2014 Budget, the Chancellor confined himself […]


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