View more on these topics

Pension problem is profitability

In response to Damien Rylett&#39s snipe at my assorted writings on

stakeholder matters, he obviously has not bothered to read most of what I

have been saying.

My beef is not with stakeholder&#39s broad objectives of reducing charges and

simplifying product structures. Rather, I object to the way in which a

predetermined set of completely unrealistic parameters have been rammed

down the industry&#39s throat with nothing more than a token “consultation” on

the part of civil servants who have no concept of the need for private

sector businesses to be profitable in order to survive.

A question for you, Mr Rylett. Do you think the business which employs you

is going to be able to operate profitably on commission levels (for

personal pensions) which are barely more than a quarter of what they were

only a year ago unless your clients are prepared to pay fees which, as many

other commentators have opined, none but higher-net-worth individuals and

companies are prepared to pay?

Julian Stevens

Partner,

WDS Independent Financial Advisers,

Kingswood,

Bristol

Recommended

Merrill offers protection

Merrill Lynch HSBC has designed the global growth protected investment product, a guaranteed equity bond that is only available through the internet.The bond tracks a basket of four stockmarket indices the FTSE 100, Standard & Poor&#39s 500, Nikkei 225 and Eurostoxx 50 over a five-year term. If it is held until maturity, investors are guaranteed […]

Putnam Investments – Putnam Global Small Cap Core Equity Fund

Wednesday, 16 May 2001.Type: Ucits.Aim: Growth by investing in small companies with established earnings growth and strong returns on capital.Minimum investment: $2,500.Place of registration: Dublin.Investment split: US 50 per cent, Europe 25 per cent, Asia 25 per cent.Isa link: No.Charges: A shares initial up to 6.25 per cent, annual 2 per cent, B shares annual […]

RJ Temple appoints Premier as investment adviser

RJ Temple is appointing Premier Fund Managers as investment adviser for its funds under management.RJ Temple managing director Michael Hawkins says: “With the rapid changes that continue to take place in global investment we decided the time was right to outsource the management of our clients&#39 funds to provide them with an enhanced service.Premier Asset […]

Scarborough steps & flexes

Scarborough Building Society has brought in the stepped flexible lifetime discount mortgage.The mortgage has an initial discount of 5.54 per cent for the first six months of the mortgage, giving a payable rate of 4.45 per cent for loans of up to 95 per cent of valuation. After this period for the rest of its […]

Guide

Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment