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Occupational therapy needed

Fewer than one in five members of occupational pension schemes are aware of the level of fund they will need to support them in retirement.

Research by JP Morgan Asset Management found that 82 per cent of workplace pension scheme holders are not aware that at current annuity rates, an average 65-year-old would need a fund of 250,000 to buy an income of 15,000.

This lack of awareness is underlined by the fact that 24 per cent do not know whether their pension scheme is defined benefit or defined contribution.

Twenty per cent of people in defined-benefit schemes say they have never reviewed their choice of investments or level of contribution.

The survey was carried out by ICM research and covered 795 holders of workplace pension schemes.

JPMAM head of DC investment services Karen Robert- son says: “As more and more organisations shift to money-purchase type schemes, where the onus is on the individual rather than the employer to monitor their pension fund, provision of a pension in the workplace needs to be supported by proper education.”


Burns-Anderson selects The Exchange

Burns-Anderson has chosen The Exchange to manage its new multi-tie proposition.The multi-tie will be available to Burns-Anderson’s ARs as well as directly authorised IFAs.Burns-Anderson chief executive Mike Hughes says: The Exchange team clearly understood that we wanted an original multi-tie proposition to appeal to existing network members and attract a new calibre of adviser.The Exchange […]

F&C appoints new head of investments

F&C Asset Management has appointed Fernando Ribiero as its head of investments with immediate effect in a new role replacing chief investment officer, held by Tony Broccardo, who is leaving the firm.Ribiero joined in 2001, taking responsibility for retail portfolio management. Incoming chief executive Alain Grisay says: The new role will be focused on the […]

Skimming off the cream

A wealthy client, who has no need for further income, faces a pension dilemma as he turns 75

IFS developing qualification in commercial mortgages

The Institute of Financial Services is developing a new stand-alone qualification in commercial mortgages.The CeCM qualification is being developed in partnership with the National Association of Commercial Finance Brokers.The single-module qualification will open for registrations this week. Learning materials are expected to roll out in March 2006.NACFB chief executive Keith Heron says: “The Ifs’s Certificate […]

Is this the endgame for the current mergers & acquisitions boom?

Last year, worldwide mergers and acquisitions (M&A) rose to an unprecedented $4.7tn, according to Thomson Reuters, a 41 per cent increase over 2014. Anthony Forcione, senior equity analyst at Loomis Sayles, an affiliate of Natixis Global Asset Management, looks at what’s been driving this particular wave of mergers. Click here to view full article: Loomis-Sayles


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