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MGM keeps bonus steady

MGM Assurance is keeping bonus rates unchanged following its quarterly bonus rate review.

The reversionary bonus rate on the bonus growth life fund will stay at 3 per cent a year and 3.5 per cent on the bonus growth pension fund. MGM reports investment returns of 2.1 per cent after tax and expenses for the third quarter.

New IFA general manager Mark Burley, who joins from pension services partnering company UBSi Group, says the decision not to change bonus rates and market value adjustments reflects the modest return that has been made and the future outlook.


Grey areas in planning

In my last few articles, I have identified, summarised and discussed the implications of some recent and upcoming pension developments. This week, I am moving on to a very recent bit of legislation which will not only have a massive impact on pensions but also on most other aspects of financial planning. The Government has […]

Berkeley Berry Birch reduces losses

Berkeley Berry Birch has reduced its pre-tax losses by 23 per cent to £3.8m for the six months to September 2003, compared to £4.9m for the same period last year. The Berkeley Independent Advisers network subsidiary has seen its RI numbers grow to 671 from 584 in six months bringing total groupwide RI numbers to […]

No change in Bank of England base rate

The Monetary Policy Committee voted today to keep base rate at 3.75 per cent for another month. This was largely expected by the industry following a 0.25 per cent increase last month. Charcol senior technical manager Ray Boulger says: “Any decision other than no change would have been a major surprise &#45 we do not […]

UBS nets butterfly economies

UBS ASSET MANAGEMENT UBS GLOBAL EMERGING MARKETS FUND Type: Oeic Aim: Growth by investing in emerging markets Minimum investment: Lump sum £1,000, monthly £50 Investment split: 49.6% Pacific, 10.1% Europe, 9.8% South America, 9.2% North America, 7.7% South Africa, 7.4% Asia, 2.5% China, 3.7% cash Isa link: Yes Pep transfer: Yes Charges: Initial 4%, annual […]

Canada Life annual IHT survey results

75% of wealthy unaware of new residence nil rate band IHT allowance Just 4% were aware the new allowance will be up to £175,000 per individual Lack of awareness of IHT rules means families risk paying a bigger bill than they need 83% think the current inheritance tax rules are far too complex A remarkable […]


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