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Portman carpetbagger&#39s new rally cry website co-ordinator Richard Yendall is calling on Portman Building Society members to support a campaign he says will defend their rights.

He wants 500 members to sign a resolution aiming to lay down strict guidelines on expulsion of members.

The new resolution is aimed at preventing the society from expelling or threatening to expel a member for proposing a resolution or a candidate for director.

Yendall also wants existing directors to sign away to charity, any future windfall benefits arising from a demutualisation.

Yendall was one of 500 members expelled from Portman earlier this year for signing a demutualisation resolution.


Claws sharpened as the cash blunders become just too much to bear

Life offices stand accused of dragging their heels on the issue ofclawbacks made in error.Money Marketing revealed last week that IFA network DBS has figuresshowing that nearly half of life office commission clawbacks are a resultof administration bungles.The problem is not a new one. It was first discussed in 1989 when Origo,the body that sets […]

With-profits could be a hollow victory for stakeholder firms

The publication of the draft regulations on stakeholder pensions means wehave almost reached the end of the stakeholder journey having overcome araft of issues and consultation papers.The shape of stakeholder is now becoming clear although some details stillneed further clarification.What we finally do know is that the Government has taken on board lifeoffice concerns and […]

Paymaster push for DC admin

Specialist pension administrator Paymaster is aiming to make a major pushinto the defined-contribution admin-istration market.Paymaster, which is part of the Hogg Robinson group of companies, believesthe future of pension administration lies within the defined-contributionstructure.It plans to create a “centre of excellence” at its Crawley office inSussex, staffed by a team of defined-contribution admin experts.The team, […]

L&G offers variation on flexi loan

Legal & General is offering a flexible repayment mortgage styled on itsexisting Flexible Reserve loan.The Repayment Flexible Reserve product has no redemption penalties plusthe facility for over and underpayments, payment holidays and dailyinterest.It allows borrowers to build up a reserve to effectively save at themortgage interest rate tax-free while borrowers who make overpayments canreborrow up […]


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