View more on these topics

Midas touch on GPP admin

Commercial Union is offering IFAs a group personal pension admin system accessed via the internet.

CU says the Midas system is the first to allow administrators to benefit from the flexibility of the internet. It will give instant access to information on schemes and members.

Midas will replace CU&#39s cheque and disk system of admin. The company estimates that current admin systems used by life offices, such as paper and computer disk services, take two weeks to turn round.

Midas is an extranet service which offers secure and immediate access to information to anybody involved in the scheme. It allows IFAs to update records, monitor fund values and streamline billing. The service also has access to CU&#39s helpdesk via email.

Pensions development manager Iain Oliver says: "There are a whole range of issues which make GPPs viable. One of these is admin and service. This is about increasing efficiency to reduce the costs of admin." The service is free to new and existing GPPs.

Recommended

A Game of two halves

There are just two more weeks to go after this week in our fantastic competition with Save & Prosper. The runners and riders with a chance of being in the top 16 in the league will be revealed soon. That puts them in the frame to be one of four lucky IFA readers to win […]

FSA to act on 2000 bug

The Financial Services Authority could stop IFAs and life offices from trading if they do not make computer systems Year 2000 compliant. The FSA is concerned that many companies are failing to update their computers to deal with the change of date from 1999 to 2000. It will clamp down to protect investors, depositors and […]

Shelters from the CGT storm

Schemes set up before November 25 should be safe as truly retrospective legislation is extremely rare. The major area for IFAs to consider is capital gains tax reinvestment relief. Have any of your clients realised a capital gain during the last three years, even if they have already paid the tax, or are about to […]

Framlington offers Select Trust Pep

Framlington is launching the Select Investment Trust Pep which can invest in up to seven funds managed by other companies. The Pep offers two options – the Framlington option and the worldwide option. The former allows investment in up to four Framlington trusts. The worldwide option offers a choice of seven trusts managed by other […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment