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NPI members to get £300 fixed payment

Qualifying policyholders at NPI are set to receive a fixed cash payment of £300 each if they vote for demutualisation and the AMP takeover.

The fixed sum is compensation for the loss of voting rights.

Qualifying members will also receive a variable cash payment based on size and type of policy held and the length of time it has been in force.

The second payment is to recompence members for loss of rights to a share in distribution of any surplus when NPI is wound up.

The vote takes place on May 19, 1999 and conversion is expected to be completed by the end of the year.


CBI reports growth in market confidence

The financial services sector saw a significant increase in confidence at the start of 1999 with 50 per cent seeing an increase in volumes of business.The CBI/PricewaterhouseCoopers quarterly survey of the sector shows the industry shaking off fears of a major slowdown.But not all firms are confident. Just over a fifth of those surveyed saw […]

Seven million plan to put cash into Isa

Nearly seven million people plan to open an Isa by September, according to a Mori survey conducted for Newton Fund Managers.The survey will be welcome news to the Government, which is yet to launch its Isa awareness campaign.Newton says about 15 per cent of people think they will invest in an Isa in the first […]


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