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Lords give leave of appeal in landmark pensions case

A landmark test case this week may prevent personal pensions being seized in the event of bankruptcy.

The House of Lords has given two bankrupt former accountants provisional leave to appeal against a Court of Appeal ruling earlier in the year which gave their creditors&#39 the right to seize their pension funds.

Pension providers say their hands are tied on similar benefit payments until the case is settled, but the Bankruptcy Advisory Service says it expects the case to be unsuccessful.


&#39Commissionto be slashed across board&#39

Up-front commission for IFAs will be slashed by two-thirds by 2003 as stakeholder prices are applied to all financial products, claims Cap Gemini Ernst & Young in a report.The report, which surveyed the country&#39s biggest insurers and IFAs, predicts that nine out of 10 financial products will carry a 1 per cent charge by 2003.It […]

Fleming in style wars

The race is on to become the UK&#39s biggest style fund manager following Schroders&#39 high-profile entry last week.Chase Fleming Asset Management has been emailing IFAs to remind them that it pioneered UK style investment almost nine months ago.The Fleming email says: “As an endorsement of the validity of style investing, we welcome the announcement that […]


Do you back Misys IFA Services&#39 decision to back IFAs who take more than 1 per cent commission to advise clients to take stakeholder-style personal pensions?“I probably would not back it. The straightforward fees where people know exactly what they are paying are more preferable.”Phil Roberts, Roberts Wilkie Independent Investment Advisors“In broad terms, yes. Advice […]

Schroder turns to American growth

Schroder&#39s US dynamic growth fund is a unit trust aimed at investors who are looking for exposure to the US and aims for growth by investing in US companies that show growth potential. It will track the Salomon Smith Barney broad market US growth index, investing in a broad range of companies that include Wall-mart, […]

What are the key changes to transform pensions?

By Fiona Tait, pensions specialist In her final article for Royal London, Fiona Tait reviews key changes she believes have transformed, or will transform, pensions. In my 12 years with Royal London I have been paid to review, study and explain the numerous changes to pension legislation which have transformed our industry in that time. This is […]


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