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McDonald&#39s chooses Invesco for stakeholder

Invesco has been appointed as stakeholder pension provider by McDonalds Restaurants.

Consultants Watson Wyatt acted as consultant in the selection of the scheme. Invesco Pensions chief executive David Butcher says: "We are delighted to be associated with one of the biggest brands in the world. We were chosen for our investment options, our experience on communications and above all, our ability to administer a scheme with multiple locations and provide an innovative bespoke administrative solution."

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Portman adds to fixed rate mortgage market

Portman Building Society has brought out the 3.99 per cent fixed rate mortgage.Aimed at first time buyers only, the mortgage has an interest rate of 3.99 per cent for loans of up to 95 per cent of valuation until August 1, 2003.Portman has given borrowers the facility to repay up to 5 per cent of […]

Norwich & Peterborough – Six Month Fixed Rate Bond

Thursday, 28 June 2001.Type: High interest account.Minimum-maximum investment: £1,000-no maximum.Interest rates: 5.1 per cent gross a year, 4.98 per cent gross a month.Term: Six months.Offer period: Until further notice.Withdrawal penalties: If no notice given, 30 days&#39 loss of interest on amount withdrawn unless at least £1,000 remains in bond.Tel: 0845 3002511.

Gartmore looks for stability

Gartmore’s stable growth fund is a unit trust aimed at investors who are looking for a low-risk investment. It has been designed for growth by investing in zero dividend preference shares from split capital investment trusts.There are currently about 100 zero dividend preference share products on the market, and the Gartmore fund will invest in […]

Dunbar in £30k bid for IFAs to multi-tie with £30k

IFAs claim Allied Dunbar is trying to lure them by offering the chance to become hybrid multi-tied franchisees later this year with loans of up to £30,000. The package, offered in a series of presentations and meetings with senior Dunbar management, would see IFAs tying to the group until September or October, when the life […]

Cricket - thumbnail

England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.

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