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MBO of Saga for for £1.35bn

The management of Saga has agreed a management buy-out of the company for £1.35m. Under the buy-out &#45 brokered by Charterhouse – staff will get the opportunity to become shareholders and the executive management team will remain unchanged.


Zurich portfolio tool on net

IFAs will be able to assess clients&#39 attitude to risk and build tailored portfolios using a new internet system from Zurich. The online portfolio builder will ensure that fund selection can be fully justified and give evidence of fund recommendations. The system will initially work with the sterling bond but will be extended over the […]

IFA hopes Snowdonia will be cash mountain

Family-based occupational pension schemes may not be the inheritance tax shelters that many advisers expect, experts are warning. Technical Connection pensions consultant John Page says the Inland Revenue has hinted that the new alternatively-secured pensions will attract an IHT liability. Under the Government&#39s current proposals, alternatively-secured pension holders will be able to pass on benefits […]

West Bromwich Building Society – Fixed Flexi Mortgage

Type: Flexible fixed-rate mortgage Fixed term: Two years Fixed rate: 5.65% Minimum loan: £25,001 Maximum loan: Up to 95% of valuation subject to a maximum of £500,000 Income multiples: Up to 3.75 times principal income plus second or three times joint Conditions: Capital repayments of up to 10% a year allowed without penalty, six months&#39 […]

Ritchie exposes dangers of automatic enrolment

Automatic enrolment of new employees into occupational pensions could lead employers to seek ways of cutting contributions to reduce overall costs, warns Scottish Equitable pensions development director Stewart Ritchie. Research by the NAPF has shown that auto-enrolment typically increases employee take-up from 60 to 90 per cent. However, the chairman of the Employer Task Force […]


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