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National Mutual criticises FSA over pensions guidance

National Mutual has criticised Financial Services Authority guidance on personal pensions.

The life office believes the guidance implies that many people with personal pensions should transfer to stakeholder.

But it suggests that despite the actual terms of stakeholder not being known, many people may still be better off remaining in a personal pension.

National Mutual has labelled the FSA&#39s decision tree fact sheet published with the guidance as &#39odd&#39 from a financial perspective.

It says: &#34If your explicit planning purpose is to save for retirement, it makes little sense to say that the fact that your money is locked into a pension arrangement until you retire is a &#39disadvantage&#39 whereas Isas have the advantage that your money is not locked in.&#34


Darling to present pensions journalist award

Secretary of State for Social Security Alistair Darling will present the 1999 pension and investment journalist of the year award sponsored by Aon Consulting.Darling will present the award at a lunch at the House of Commons.

Inland Revenue&#39s ISA campaign jumps the gun

Consultants Grant Thornton believe the Inland Revenue has jumped the gun with its press campaign promoting Isas.It suggests the Inland Revenue is overly keen to embark on a marketing campaign based on a concept the financial services industry has not wholly signed up for.Grant Thornton tax partner Jonathan Riley says: &#34Money spent on the campaign […]


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