Millfield and Prudential claim to be the first provider and distributor to sign a multi-tie agreement.The five-year deal has been penned by Millfield chief exec- utive Paul Tebbutt and Pru UK chief Mark Wood. Pru has also just signed its fourth annuity single-tie deal and will be the sole annuity provider for National Australia Bank. Pru annuities will be sold through NAB’s Clydesdale and Yorkshire Bank networks from May 31 in a deal that will initially run for five years. PruHealth has also been signed up by NAB as the first PMI provider on its panel, with NAB expected to announce further tie-ups in the coming weeks. Pru has set up single-tie annuity deals with Zurich, Pearl, St. James’s Place and Thinc Destini. Wood says: “This arrangement endorses Pru’s position in the annuities market, where we already have a number of similar partnership agreements. “PruHealth has shaken up the PMI market. It is the first private medical insurer to link the cost of premiums to the efforts that people make to look after their health.”
The Treasury is to launch a consultation into what aspects of insurers’ business will be subject to VAT following the recent Andersen case in Europe.
Threadneedle is replacing Darrel ODea with Phil Cliff as manager of its European Select Growth fund.The fund invests in a concentrated portfolio of funds in continental Europe or which have continental European operations. It is up 10.9 per cent over a year, down 13.5 per cent over five years.Cliff has been number two on the […]
An article in Money Marketing last week stated that Standard Life is encouraging its salespeople to sell the bene- fits of FundsNetwork – the provider’s supermarket partner – in a bid to build sales of self-invested personal pensions. We at Selestia have had two Sipp arrangements similar to this in operation for over two years […]
Are you ready to implement the menu system when it comes in on June 1? “Yes. There are probably still a couple of things we need to work out but we have plenty of time allocated for that.” George Chakko George, Progressive Independent Advisers”No. I have not really given it a lot of thought but […]
Jelf Employee Benefits assesses key trends within the international private medical insurance provision of organisations with employees in Singapore. Benefit structure, cost management and healthcare facilities are examined and key considerations are highlighted. This edition will be of particular interest to global human resource directors and benefit managers with local and expatriate populations in Singapore.
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The Government should make it easier for advisers to sell products that blend income drawdown with insurance to meet future care costs, according to former pensions minister Steve Webb. A paper published today by Royal London calls on the Government to introduce policy changes which allow new products to be created that pay for long-term […]
Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]