Legal & General is offering a sixth tranche of its protected capital growth plan, with returns linked to the performance of the FTSE 100 index.The product, which runs for six years, offers a minimum of 21 per cent growth or 50 per cent of the rise in the FTSE 100 if this is greater. It is available for an eight-week offer period from until November 4 and matures on November 9, 2011. Minimum investment is 500 and the plan is available for Isas and Pep transfers. Commission is 3 per cent initial but is not offered for transfers from existing L&G investments. L&G is also launching a fourth tranche of its accelerated growth investment plan which offers 125 per cent of any growth in the FTSE 100 over five years. Commission is 3 per cent. Retail investments marketing director Claire Stracey says: “We have held the term in response to feedback from both investors and advisers.”
FSA acting director of small firms Stephen Bland has hit back at critics of the treating customers fairly initiative. Speaking at Aifa’s first Leaders of the Industry lunch in London recently, Bland claimed that the fierce criticism levelled at TCF was unfounded. He said that arguments claiming TCF was ill defined, unnecessary and amounts to […]
The National Association of Pension Funds is calling for a new independent standing commission to report to the Government on the impact of economic, demographic and social changes on the UK’s pension system and to advise ministers on measures to maintain the pension system in the long term.
Investment Management Association chief executive Richard Saunders has called for the fund management industry to step forward as the provider of individual pension savings schemes. He says A-day changes represent a historic opportunity for the fund management industry to provide products to the mass market and suggests the industry can cut charges to nearer to […]
Insurers’ traditional methods of identifying likely fraudsters are outdated, discriminatory and cost the industry millions of pounds, says specialist fraud solutions provider Absolute Customer Management. Traditionally, insurers use red flagging which covers issues such as race, gender and the area in which a claimant lives. Absolute says this often means that young men, especially those […]
Earlier this year, Jelf Employee Benefits mentioned that the then minister for pensions was openly discussing the need for an increase in the minimum level of auto-enrolment pension contributions.
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The Financial Services Compensation Scheme has declared self-invested personal pension operators Stadia Trustees, Brooklands Trustees and Montpelier Pension Administration Services in default. The lifeboat fund has received around 150 claims for compensation relating to the three businesses. Those claims relate to how the businesses set up, operated and administered Sipps through which people invested in […]
The Department for Work and Pensions has confirmed it will not change the pensions triple lock and will explore bolstering the powers of The Pensions Regulator in the forthcoming legislative period. The DWP published its “single departmental plan” yesterday, which sets out five objectives it is working towards over the next four years. It has […]
Sam Seaton talks about how her interest in people affects her approach to technology