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Paymaster wins contract to administer Seeboard&#39s outsourced pension scheme

Hogg Robinson subsidiary Paymaster has won the contract to administer the pension scheme of regional utilities supplier Seeboard.

The southern based electrical and gas company has awarded Paymaster a five year outsourcing contract to administer its final salary scheme for its current members and pensioners.

The scheme has 2,700 active members, 1,800 deferred members and 6,000 pensioners.

Paymaster managing director Jim Kelly says: &#34Seeboard represents another significant win for us and is in line with our strategy to grow in the private sector.&#34


Scot Prov International to offer Investec Wired Fund

Scottish Provident International is the first offshore life office to offer the Investec Guinness Flight Wired Index Tracker.The IGF fund is built around the 40 companies leading the global and technological revolution.The fund will be available through Preference, SPI&#39s multi-manager bond.SPI investment marketing manager Iain Fairburn says: “We are excited about the addition of Wired […]

Standard Life Bank hikes interest rates

Standard Life Bank is hiking the interest rates on its mortgages and savings accounts following the Bank of England&#39s decision to raise its base rate.The move will see the bank increase the interest rate on its Direct savings Account to between 5.25 and 5.45 per cent from between 5.1 and 5.28 per cent depending on […]

Voucher system proposed for advice on stakeholder

Friends Provident is urging the Government to introduce a voucher system to ensure people receive adequate advice on stakeholder pensions.The system would provide the stakeholder with a voucher provided by either the employer or the Government to be redeemed in exchange for advice.Alternatively, the life office says an additional charge should be costed within the […]

Equitable welcomes court case result

Equitable Life has welcomed the High Court judgement on Guaranteed Annuities.The mutual life office has particularly welcomed the decision by the court that the directors have discretion which is “well wide enough” to grant final bonuses on an amount conditional on the form in which benefits are taken by the policyholder.It also welcomes the ruling […]

Planning now for the residence nil-rate band

Graeme Robb, senior technical manager at Prudential, writes about the residence nil-rate band and the advice opportunities it presents for you when tax year-end planning with your clients. On our Planning Matters hub, we considered a widow, Margaret, and a married couple, John and Anne, for whom the residence nil-rate band (RNRB) is influencing planning […]


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