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Providers reject pension compulsion rumours

Providers have rejected the idea the Government would be seriously considering extending compulsion on pension savings at this stage, despite a story in a newspaper today.

They say there is no way such a move would be considered until Alan Pickering publishes his final report this summer and also that it would spark outrage amongst employers.

Prudential director of pension development John Glendinning says: “We believe there is plenty of other avenues that can be pursued before compulsion should be seriously considered.”

Scottish Life head of pensions development Steve Bee says: “I would bet against compulsion. All the indications are that it would be badly received by employers and surely compulsion on employees would have to be ruled out.”


Bankhall founders leave after Skandia takeover

Bankhall founder directors David Warnock and Martyn Weaver are leaving the IFA services provider following its acquisition by Skandia.The boardroom shakeup leaves joint chief executives Paul Hogarth and Simon Taylor in control of the company.Both departing directors say they are happy to be leaving after a restructuring following Skandia&#39s takeover.Bankhall portal IFAengine managing director Warnock […]

B&W sales chief Perks quits for Britannic role

Mortgage lender Bristol & West is losing head of sales Bob Perks to rival Britannic Money, where he will become head of business development.Perks will take up this newly created position on June 17 and work alongside head of intermediary sales Austin Jelfs, who joined from Preferred Mortgages this month.Bank of Ireland subsidiary B&W says […]

ABN Amro stars join Framlington

ABN Amro star fund managers George Luckraft and Nigel Thomas have joined Framlington, citing an irrevocable breakdown in their relationship with their former employer.The two managers announced their intention to join Framlington last month but had agreed to see out their contracts, which had 12 months to run.But they now say that “certain actions” taken […]

Scarborough Building Society – 90 Day Access Bond Issue 2

Monday, May 20, 2002Type: High interest accountMinimum-maximum investment: £2,500-£500,000Interest rates: 4.7% gross a year, 4.45% gross a monthTerm: 12 monthsOffer period: June 30, 2002Withdrawal penalties: 90 days’ notice or 90days’ loss of interest on amount withdrawnTel: 0845 4584458

HMRC helping to remove artificial gains

An investment bond offers investors certain tax advantages, one of which is the ability to take partial surrenders from the investment. This facility allows the policyholder to withdraw amounts up to 5% of the amount invested each policy year on a tax deferred basis, without incurring any immediate tax liability. This tax deferred allowance can […]


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