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National Savings rolls on to pass Spam test of time

National Savings is marking the 25th anniversary of the introduction of

index-linked savings by comparing how life has changed since 1975.

A National Savings statement says: “Back in the summer of 1975, Bay City

Rollermania was at its height and the nation loved nothing more than

settling down with a Spam sandwich in front of Crossroads before heading

out for a night on the town in aFord Cortina.

“At the same time, inflation hit a record-breaking 26 per cent and

Chancellor Denis Healey introduced index-linked savings certificates.”

Index-linked saving certificates are lump-sum investments guaranteed to

beat inflation and can be bought for either two-year or five-year terms.

National Savings says the vehicle is standing the test of time well, with

£100 invested in 1975 being worth £654 now, an increase of 554

per cent.

Commercial director Christopher Moxey says: “The vagaries of fashion mean

some things which once upon a time were considered chic are now left

looking a bit ill advised. But index-linked savings certificates have stood

the test of time. They remain a safe, tax-free, no-risk home for people.”


Pass set to lend £5m for FSAVC payouts

The Pension Advisers Support Scheme expects to loan IFAs £5m to meetcompensation payments for the FSAVC review.Similar loans for the pension review totalled £30m, according to chiefexecutive Mark Penton.Pass estimates IFAs will have to pay out an average of £2,500 incompensation for each FSAVC case but it predicts most smaller IFAs willhave to offer redress […]

Nutt takes own flight path at Jupiter

The new manager of Jupiter&#39s income fund aims to put the waning star backin stellar companyTony Nutt denies there has been a rush of redemptions and is bemused bymedia suggestions that the fund will be aff- ected by the recent departureof chiefexecutive and founder John Duffield.He says: “Whether John is here makes no difference to […]

Independent View

The Government&#39s stakeholder proposals include a limit to charges, whichhas already forced down charges on existing pension products.Whether the consequent reduction in commission defeats the Government&#39sintentions regarding distribution of stakeholder remains to be seen.After attending many industry seminars, it is clear that large numbers ofIFAs do not intend providing, on a much reduced level of […]

Polar expedition reaches another milestone

The industry is waiting anxiously for the latest pronouncement onpolarisation. Due later this month, it could have major ramifications forthe fate of independent advice.The findings of a study by consultants London Economics are expected to bepublished at the end of the month. The FSA commissioned the study to informits decision on whether to change the […]


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