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Misys set to pick final two firms for stakeholder panel

Axa, Scottish Equitable and Friends Provident are competing to fill the

last two places on Misys&#39 stakeholder pension panel.

The board will discuss who to choose at a meeting on Wednesday, with Axa

and Scottish Equitable said to be favoured over Friends.

In May, Misys appointed Scottish Widows, CGU, Clerical Medical and

Scottish Amicable to the panel.

Competition was fierce as it will give access to all five Misys networks

and determine Misys&#39 future pension panels.

Life offices which have missed out include Standard Life and Legal & General.

Misys IFA Services says it chose providers on the basis of financial

strength, technology and training.

The Office of Fair Trading has given Misys the go-ahead to buy ie group,

parent of IFA Network.

The £21m acquisition was referred to the OFT amid fears that it would

breach monopoly regulations.

The purchase, which has been approved by i.e group shareholders, gives

Misys more than 4,500 registered individuals in five networks – almost a

quarter of the market. Misys now dwarfs rival DBS which has nearly 2,800


As the nation plunges into Euro 2000 football frenzy, Legal & General is warning stars and fans alike that even Premiership footballers could face a massive income shortfall when they retire.

The life office claims the likes of Shearer, Owen and Beckham could score

own goals in their pension planning and be forced into retirement with just

a fraction of their present earnings.

L&G says even a star player earning £25,000 a week making maximum

allowable contributions to their pension could face retired life on

£25,000 a year.


Educating IFA

Karen Houlihan Divisional director of societies,CPD and research,Chartered Insurance instituteA recent survey by the CII shows there aresignificant differences in theeducational professional support that employers give their staff in thefinancial services community.In today&#39s low-inflation economy, the scope for direct salary rises islimited but the prospects for increasing employability by gettingadditional qualifications remain.Most employers cite a […]

Daily interest from Leeds and Holbeck

Leeds and Holbeck Building Society is entering the daily calculated interest rate market with its new flexible mortgage product. The interest rate is fized at 5.85 per cent for the first six months, at which point it switches to a flexible variable rate, currently sitting at 6.90 per cent. The product includes no fees or […]

Standard and Poor&#39s lowers rate for top Jupiter fund

Jupiter&#39s Income unit trust has been downgraded by independent analyst Standard & Poor&#39s from the highest rating of triple-A to AA. At the same time, the fund has plummeted to rank 88 out of 91 equity funds in the UK on performance over the last year, according to Standard & Poor. It is still ranked […]

Finsbury Trust grows by more than half

Investment trust Finsbury Trust has posted a 58 per cent increase in net assets in the year ending March 31. The fund, which operates mainly in the smaller quoted sector in the UK, gives investors an increase in dividend of 19 per cent to 5p from 3.2p The investment trust is owned by Apax Finsbury […]


Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.


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