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L&G pension to accept divorcee credits

Legal & General is introducing a new feature to its buy out policy which enables it to accept pension credits for ex-spouses in the event of pensions splitting following divorce.

L&G believes the new feature will appeal particularly to pension scheme trustees where their scheme rules do not cater for pension entitlements to be held by anyone other than current or ex-employees.

Pensions marketing director Andy Agar says: “We see this as an excellent business opportunity for IFAs operating in the occupational pensions schemes market. It means are complete range of pension plans are now fully geared up to cater for pension credits arising from divorce.”


SocGen arm links with Assureweb

Societe Generale subsidiary Inora Life has linked up with IFA portalAssureweb&#39s offshore platform to distribute its products into the UK IFAmarket, bringing the total number of providers on Assure-web&#39s offshoreservice to 14.


Cheltenham & Gloucester&#39s move into the non-conforming mortgage market hassparked speculation that the lender may be gearing up for a shift tosub-prime lending. Coming hot on the heels of Halifax subsidiary Birmingham Midshires&#39impending push into the adverse-credit sector, it seems to be a question ofwhen rather than if the mainstream players introduce impaired-credit ranges. But […]

Code trio setting up rival loan trade body

Three Mortgage Code Compliance Board directors are understood to be setting up a non-profit-making trade association for intermediaries to rival the proposed Nat-ional Association of Mortgage Brokers & Advisers. Exchange FS managing director Jim Gaskin, Allied Dunbar franchise develop-ment director Dave Seviour and Mortgageforce managing director Rob Clifford are believed to be drumming up support […]

Cousins loses out as McFall leads Treasury committee

The prominent Treasury select committee has elected former NorthernIreland minister Labour MP John McFall as chairman. At a meeting last week, the 12-member all-party committee of backbench MPsdecided that McFall, whose appointment to the committee was announced lastweek, will be its leader for the next Parliament. The appointment ends speculation that Labour MP Jim Cousins […]


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