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NAPF survey shows 17 per cent jump in scheme membership

The National Association of Pension Funds annual membership survey shows a 17 per cent jump in the number of employees taking up occupational pensions in 1998.

Where membership was automatic for new employees the take-up rate in final salary schemes rose to 91 per cent in 1998 from 74 per cent in 1997.

Money purchase scheme membership rose to 92 per cent from 78 per cent.

Where new employees had to take action to join a scheme take-up rose to 81 per cent from 51 per cent in final salary schemes. Money purchase schemes membership rose to 71 per cent from 65 per cent.


Norwich and Peterborough appoints new chief executive

Norwich and Peterborough Building Society is appointing Matthew Bullock as group chief executive.He will join the society on February 15 and take over as chief executive when the incumbent Martin Armstrong retires on May 27.Bullock has 24 years of experience with Barclays Group, most recently as Yorkshire regional director.Norwich and Peterborough chairman Martin Mays-Smith says: […]

Egg cuts rate to 6.25 per cent

Prudential&#39s direct banking arm Egg has cut the interest rate on its savings account to 6.5 per cent from 7.25 per cent in keeping with its guarantee to maintain it at 0.5 per cent above the base rate.The revised savings account rate with cashcard is now 6 per cent. It was previously 6.75 per cent.Egg […]


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