View more on these topics

PIFC stakeholder site targeted at employers

Employee benefits specialist PIFC Consultants is setting up a website dedicated to stakeholder pensions and featuring a decision tree geared specifically at employers.

PIFC says the move is in response to the low level of understanding among UK businesses about the introduction and impact of stakeholder which employers must make available to staff from October 2001.

The new site, at www.pifc., features what PICF claims is a simplified decision tree aimed at helping firms decide if they are exempt from providing access to stakeholder.

PIFC, which represents the IFA sector on the Gov ernment&#39s stakeholder advisory board, says that although firms are not yet req uired to make contributions to stakeholder, the Government intends to shift an increasing proportion of the pension liability from the state to private provision.

It says the Government curren
tly meets 60 per cent of the UK&#39s pension provision but is aiming to reduce this to 40 per cent by 2005.

PIFC believes it is increasingly vital for employers to realise their responsibilities ahead of the launch of stakeholder but also ahead of compulsory employer contributions which it believes could soon follow as an inevitable development in the Govern ment&#39s pension plans.

Chief executive Terry Bennett says: “In some way or another, the introduction of stakeholder will affect most companies and employees in the country.

“Also, it is only a matter of time before it bec omes compulsory for employers to make a contribution to their employees&#39 stakeholder pension schemes.

“The amount of time left for companies to get to grips with its introduction is beginning to run out. Yet, as an issue, it is not well publicised and lacks widespread understanding.”


Investment View

It is a while since I remarked on bonds as an investment. Given that interest rates look as though they may have peaked here and cannot be too far from the top in the US, now appears a good time to revisit this market. Aside from anything else, equities are still looking rocky. But, as […]

Video reveals Darling&#39s u-turn on polarisation

The government has been accused of hypocrisy and of making a U-turn over its pre-election stance in support of polarisation. The allegations surfaced after Alistair Darling, then Shadow Treasury chief secretary and now Social Security secretary appeared on a financial services video in 1996 saying if polarisation was not broke, why fix it. He also […]

Ecclesiastical – Allchurches With Profit Bond

Tuesday, 28th November 2000.Type: With profit bond.Aim: Income or growth by investing in Ecclesiastical life fund.Minimum investment: £5,000.Allocation rates: £5,000-£14,999 – 95 per cent, £15,000-£39,999 – 96 per cent, £40,000 plus – 96.5 per cent.Charges: Initial £5,000-£14,999 – 5 per cent, £15,000-£39,999 – 4 per cent,£40,000 plus – 3.5 per cent.Commission: None.Tel: 01452 528533.

New chief execs for Lambeth and Dunfermline

Dunfermline and Lambeth Building Societies have both announced the appointment of new chief executives. Dunfermline’s David Smith will retire in March next year, he has been director and chief executive of the society since 1987 and chairman of the building societies association since last year. Smith will be replaced as chief executive by Graeme Dalziel […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm