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Pensions splitting deadline set for end of 2000

The Government has set a target date of the end of 2000 to implement its pension splitting plans for divorcees.

It has now published draft legislation outlining its plans which will allow clean break settlements, dividing pension benefits between spouses on divorce.

Currently the law only allows pensions rights to be shared by &#39earmarking&#39 part of the final benefits to the spouse.

These current rules have created problems as the ex-partner needs to keep tracks on the other partner until retirement. These are further compounded by the fact that benefits could be lost if the ex-partner dies before retirement.


Furness Building Society offers a freestart

Furness Building Society is offering all new homebuyers one years free accident sickness and unemployment cover for their new loan.The &#34Freestart&#39 ASU scheme is fully compliant with the Association of British Insurers and Council of Mortgage Lenders new mortgage payment protection insurance guidelines.Cover is written on a back to day one basis after an initial […]

Occupational pension scheme managers confident about the on-set of stakeholder

The majority of occupational pension scheme managers believe the introduction of stakeholder pensions will not effect the running of their scheme according to a survey by FPS Trustee Company.The survey reveals that 95 per cent of managers will continue to run their scheme unaffected by the introduction of stakeholder.FPS also found massive support among managers […]

North east law firm recruits financial planning team

North of England law firm Dickinson Dees has recruited five financial planning consultants from accountants Arthur Andersen.The team&#39s appointment will enable the firm to offer its clients full in-house independent financial advice.The team will be headed by David Dale who previously headed Arthur Andersen&#39s north of England financial planning division.The appointment of the team is […]

Guernsey reports record fund business

Guernsey&#39s fund management business is booming with investment levels reaching record heights according to figures released by the island&#39s Financial Services Commission.For the three months to June 30,1999 the offshore centre has seen the total number of funds rise to 409 from 399 the previous quarter.The value of open-ended funds now total £12.5bn and closed-ended […]


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