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Misselling brings actuary drought

The pensions misselling scandal has left a huge demand for actuaries forcing firms to go abroad to recruit staff, according to a recruitment agency.

Its being claimed hundreds of part-qualified and qualified South African actuaries are being targeted to help cope with the problem.

Demand for actuaries has surged since life offices have been forced to deal with a review of misselling personal pensions in 1994.

Recruitment agency GAAPS International chairman Geraldine Kay says: “There has always been a two-way flow between the countries, but at present double the number of South Africans are moving to the UK as are going home.”


Portman expels hundreds of carpetbaggers

Portman is expelling 450 members in the latest move against carpetbaggers.Members who voted in favour of calling for demutulisation last November have been given a month&#39s notice of the termination of their membership. The move follows the expulsion of carpetbagger ringleader Richard Yendall in December.Portman says it will allow the expelled members back in if […]

Isa rates give Tessas a beating

Investors are being warned the gap between Tessa and Isa returns is widening, by statistics provider Moneyfacts.Tessa rates offered by some high street bank have been outstripped by more than one per cent by their Isa replacements.Chase de Vere Investment adviser Janine Starks says Tessa rates are generally beginning to be taken over as providers […]

Old Mutual on acquisition trail

South African insurance giant Old Mutual says its still interested in bidding for fund manager Gartmore following its takeover of Gerrard.Old Mutual agreed to buy Greig Middleton for £525m earlier this week.Old Mutual group finance director Eric Anstee says: “Gerrard is a great step forward for us, but it doesn&#39t complete our ambitions in terms […]

Perpetual set for “barren year”

Former IFA favourite Perpetual is set for a barren end of year Isa season following another year of poor performance.The fund manager missed out on last year&#39s final Pep season rush because of bad performance in 1998. But with more than half of its 21 funds coming in the bottom half of their sector in […]

Keep calm and carry on?

We British are known for our stiff upper lip and just getting on with things. It’s part of our quirky cultural behaviour – like forming orderly queues, or saying sorry when it’s not our fault. Many of us just aren’t that great at talking about what’s bothering us. But if someone feels that the stresses […]


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