View more on these topics

LibDems will relax rules on annuities

The Liberal Democrats will relax annuity rules and give individuals a greater voice in the running of occupational pension schemes as part of their manifesto commitments on financial services.

People with company pensions, including those already retired, will be given greater control over the running of their pension fund.

LibDem social security spokesman Steve Webb says: “We would introduce legislation so that one trustee would be elected by current employees and one by current pensioners. We would ensure that employers would not be able to outnumber employees&#39 representatives.”

Like the Conservatives, the LibDems propose to relax the rules forcing annuity purchase at 75.

In addition, the party would review the regulation of the life insurance sector.

Clerical Medical pensions strategy manager Nigel Stammers says: “It is right that people should have a say in the running of their pension funds but there will be cost implications. There are already so many reviews cutting across each other that the last thing the industry needs is yet another.”


Man Investment Products – Man-IP 220 Plus (Series 3)

Thursday, 24 May 2001.Type: Offshore bond.Aim: Growth by investing in futures and hedge funds.Minimum investment: $50,000 or Euros 50,000.Place of registration: Bermuda.Investment split: 100 per cent in futures and hedge funds.Yield: US dollar 18-20 per cent, Euro 17-19 per cent.Isa link: No.Charges: Annual 3 per cent.Commission: Subject to negotiation.Tel: 0041 554153636.

Newcastle Tessa Isa knocks three times

Newcastle Building Society has introduced the second issue of its global guaranteed equity bond, an individual savings account (Isa) for investors with maturing tax exempt special savings accounts (Tessas).This Isa would appeal to investors who want to reinvest the proceeds of their Tessas. It will track three stockmarket indices the FTSE 100, the Nikkei 225 […]

Axe member resolutions, demands Nationwide

Resolutions put forward by building society members place “intolerable pressure” on the boards of mutuals and should be scrapped, says Nationwide chairman Charles Nunneley.Speaking last week at the Building Societies Association conference in Harrogate, Nunneley claimed it makes no sense in today&#39s environment to give customers stakes in mutuals when they can have- like Nationwide […]

Pru accused of hindering staff&#39s prospects after salesforce is sold

Prudential has been accused of treating staff unfairly following its deal to sell its salesforce to national IFA Inter-Alliance.Staff have been waiting to hear about their redundancy packages for more than three months since Pru announced the axing of its salesforce on February 13.Some are now calling on the company to clarify their situation in […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm