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L & G warns against scoring pensions own goal

As the nation plunges into football frenzy, Legal & General is warning stars and fans alike that even premiership footballers could face a massive income shortfall when they retire.

The life office claims the likes of Shearer, Owen and Beckham could score own goals in their pension planning and be forced in to retire with just a fraction of their present earnings.

L&G says even a star player earning £25,000 a week making maximum allowable contributions to their pension could face retired life on £25,000 a year.


Loan brokerage for Hanley

Hanley Building Society has become the first UK building society to set upa mortgage brokerage in a joint venture with mortgage network companyMortgage Next.The service, called fe3, offers mortgage products to direct customers froma range of lenders on a fee-free basis.Mortgage bank Bristol & West and building society Bradford & Bingley, dueto demutualise later this […]

Exam on agenda as FSA probes drawdown sales

Many IFAs may have to sit an examination on income drawdown if the FSAdoes not see an improvement in drawdown advice given when it monitorsfirms this summer.Sofa chairman Peter Williams says a drawdown exam could become compulsoryif the FSA is not satisfied withthe results of visits.The Chartered Insurance Institute, together with its financial servicesarm Sofa, […]

Firm foundations

The Government&#39s stakeholder proposals left insurers in little doubt thatbusiness operational models for retirement savings would need to bedrastically transformed.The Partnership in Pensions document promised that stakeholder could bedecon-structed into governance, administration and fund management roles,potentially resulting in providers retaining administration but losing thefund management role.Employers would face a statutory responsibility to facilitate the newpension […]

LibDem MEP says look to Europe to protect against US share crash

Investors should look to Europe to protect their investments in the faceof a widely predicted hard landing for US markets, according to LibDem EuroMP and economist Christopher Huhne.Huhne believes European markets will look a more attractive propositionfollowing a slump in US equities. He forecast that the slump in the USwould come next year rather than […]

Sierra Leone cover image - thumbnail

White paper — Sierra Leone International Insights

Jelf Employee Benefits assesses the areas that employers should be aware of when considering operating in Sierra Leone, including healthcare access, delivery and insurance provisions. This report draws on various sources to highlight specific considerations for this emerging jewel in West Africa.


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