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Opra wasting time and money says consultancy

Opra&#39s year-long campaign to check whether employers are complying with the stakeholder pension requirements has been branded a waste of time by financial consultancy Grant Thornton.

The firm, which specialises in corporate advice to mid-cap companies, says the exercise is a waste of time and money which will do nothing to encourage greater pensions take-up.

Instead it says Opra should use its resources to chase companies that are threatening employees&#39 pension benefits.

Financial markets groups partner Patrick Storey says: “Opra, with its limited resources, should concentrate on the key issues that threaten members&#39 pension benefits. The operation and security of pensions in force are of far more importance to the average individual than the availability of an employer designated stakeholder scheme.”


Gartmore cuts US fund charge

Gartmore is aiming to attract investors to the opportu-nities presented by a potential comeback in the US economy by offering a 2 per cent discount on its initial charge of 5 per cent for its US fund.The fund firm is also offering a discount on its headstart scheme for children. Until August 29, lump sum […]

Bin there

The Diary hears that bursts of My Old Man&#39s A Dustman can be heard at the Bristol offices of Hargreaves Lansdown when investment supremo Mark Dampier walks in. Rumour has it that Damps&#39 career ambition was to be the man standing on the footplate of a dustbin lorry, whistling as he tossed bins full of […]

AMP says bidding has started

Embattled financial services giant AMP says it is already getting enquiries for some of its lacklustre UK businesses.Just weeks after announcing plans to demerge its Australasian and UK arms and confirming that it would test the market for its NPI and Ample brands, it revealed last week at its annual meeting in Australia that potential […]

Critical point

A month on from Prudential&#39s critical illness debacle and IFAs are still fuming. When the Pru gave IFAs a day&#39s notice that it would retrospectively raise critical-illness premiums by around 50 per cent, affecting some 50,000 applications, the industry was in an uproar, claiming the firm had irrevocably damaged its reputation and compromised IFAs&#39 relationships […]


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