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LCP concern over priority rule changes

Lane Clark & Peacock says the Department for Work and Pensions&#39s priority order plans, while welcome, will have to be changed when the Pension Protection Fund comes in in 2005.

Under the rule change retired pensioners will lose priority over non-retired members for indexation of their pensions.

Lane Clark & Peacock senior partner Martin Slack says: “We are concerned that the priority order will need to change again when the new Pension Protection Fund is introduced from April 2005. The prospect of two changes to priority orders in less than 12 months is hardly consistent with an objective of simplification.”


Abbey – Reward Mortgage

Type: Tracker mortgage Tracker term:Lifetime of loan Tracker rate: 1.24% above Bank of England base rate Payable rate: 5.24% Minimum loan: £6,000 Maximum loan: Up to 95% of valuaiton subject to a maximum of £1m Income multiples: Up to three times principle income plus second or 2.5 times joint Conditions: 1% cashback every two years […]

Fidelity offering £50 per account to consolidate on FundsNetwork

Fidelity is upping the ante in the fund supermarket battle for assets by offering IFAs and their clients financial incentives for re-registering investments on its platform FundsNetwork. In a move that the group says is designed to offset some of the costs of consolidation, Fidelity will pay IFAs £50 and their clients £25 for each […]

VAT bombshell for network members

IFA networks could face crippling tax bills if a ruling forcing small networks to charge members VAT on fees is extended across the financial services industry. Companies could be facing VAT bills adding up to several thousand pounds and there are fears that the policy change could be applied up to three years retrospectively. In […]

Swip seeks opportunities after rethink on equities

Building societies are pushing for an appeal process to challenge Financial Ombudsman Service decisions. Speaking in a BBC Radio 4 interview on the Money Box programme last week, Building Societies&#39 Association director general Adrian Coles said society chief executives are pushing the Government for a change to the appeal process. The BSA wants a process […]

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]


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