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Pension savers warned to act fast

Millions of pension savers need to act fast as basic tax rate falls to 23 per cent to 22 percent on April 6, cutting base rate tax relief by the same amount.

Those making lump sum contributions will save a pound in every hundred if they do so before April 5.

Legal & General spokesman Andy Agar says: ” We believe that it is vital for anyone with a pension plan to be aware of these changes and make sure they talk to the financial adviser about taking advantage of these important tax breaks before April 5.”


William M Mercer ditches fund management plans

The investment consultancy giant says it may still offer multi-manager funds for small to medium pension funds in the future, although it is selling SuperFlex the “manager of managers” operation it acquired two years ago.SuperFlex which is being sold to PSG Escher Investments would have formed the basis of Mercer&#39s move into fund management.William M […]

Millfield launches “actively managed” Pep transfer scheme

The Millfield Partnership is launching an “actively managed” Pep transfer service.The service will provide access to more than 30 fund managers and is designed for individuals who have lost confidence in their current IFA or who are looking to spread their risk around.The IFA claims some £25bn of Pep funds are currently underperforming so it […]

Century Life overturns VAT tribunal

Century Life has successfully overturned a VAT tribunal&#39s refusal to grant VAT exemption for pensions misselling work in the High Court.VAT exemption usually applies to all services performed by agents, related to the provision of insurance contracts. The tribunal had ruled that the review of pensions misselling was outside the normal work of an insurance […]

Company law change set to benefit private investors

The Government is set to review longstanding company laws which could pave the way for private investors to receive constant updates on firms&#39 results online. The proposal is part of a wider review of company law and could see Britain&#39s 16 million private investors receive company results on the internet or by e-mail in tandem […]


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