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NU to pay £11m over capping blunder

Norwich Union is to repay 34,000 stakeholder pension customers around £11m after an admin error. Clients were overcharged after the Government introduced a charging cap of 1 per cent for all stakeholder pensions in 2001.


Toxic fears holding back investment in banks

The Investment Management Association has told MPs that its members are not prepared to invest in bank reconstructions as they believe institutions have yet to fully write down their exposures to toxic assets.


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