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Product providers to offer vanilla pensions

Pickering wants product providers to stick to the three new types of pension that he proposes to introduce and not market their products outside set definitions.

Warning that he wants to see the number of pensions on the market cut from around 20 to three, Pickering has indicated that providers must not attempt to say their products are different when they are not.

Pickering says: “There are far too many types of pension available. I want to reduce the differences between what is on the market.”


Dolan stumped by sportsmen&#39s identity

Never one to pass up a chance to poke fun at one of its loyal readers, the Diary can reliably report an amusing anecdote involving Financial Dynamics associate partner Louise Dolan and two of Britain&#39s most beloved sportsmen.At a corporate outing, Dolan had a lengthy conversation with England rugby star Lawrence Dallaglio, unaware of who […]

FSA should redefine misselling says Sandler

The FSA has been called upon to clarify its definition of misselling by the Sandler Review in a bid to cut the costs of compliance. The review team believes that the industry incurs costs because it has no clear definition of what constitutes misselling. Review chief Sandler says that this is a common complaint from […]

Pickering may call for three types of pension

Alan Pickering&#39s long-awaited recommendations for simplifying pensions, due out this week, are likely to call for the setting up of three types of pensions.But the full ramifications of his proposals will not bec-ome clear until the Inland Revenue tax simplification review is published in September.Pickering has said his and the Revenue&#39s work are “two parts […]

Friends welcomes Sandler, but warns on price caps

Friends Provident has welcomed the Sandler review&#39s proposals for simplification but has is warning that the imposition of the one per cent price cap of the new-style stakeholder products will not help close the savings gap.Friends Provident managing director Ben Gunn says: “We welcome the Sandler Review and applaud the proposals for simplification and improved […]


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