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Prudential&#39s sales force vote to end commission-based pay

Prudential&#39s 3,000-strong salesforce has voted in favour of scrapping commission-based pay. The life office will introduce the new pay scheme, dubbed Pay 2000, in April. The scheme means 60 per cent of salesmen&#39s salaries will come from basic pay and 40 per cent from variable earnings based on sales performance and quality of service.

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Government sources say recommendations cost too much

Government and Treasury sources were yesterday briefing lobby journalists that the Royal Commission Long Term Care recommendations will cost too much to implement.Secretary of State for Health Frank Dobson called for a debate on the issue but no firm commitment for action was given.The Opposition accused the Government of dithering, although the Government insisted it […]

Experian offers information on 12m consumers

Experian is to provide financial companies with detailed lifestyle information on 12m individuals to help them market their products more effectively.The information services company says its &#39UK Population Source&#39 will provide financial services marketers with all the customer information they need in a single source.It is aiming to help financial services marketers profile, identify and […]

BGI launches third Tep fund

Barclays Global Investors is launching the BGI Endowment Fund III which will trade in with-profit endowment assurance policies.The fund manager says 7.199,000 shares will be the subject of placing and the balance of 22,801,000 is being offered for subscription by the public.The projected gross annual returns are 11.1 per cent. The fund will pay out […]

Two commissioners publish dissenting report

Two members of the Royal Commission on Long Term Care have published a dissenting note from the main report. They do not want to split the costs of nursing and hotel costs. They say that splitting the two components will simply see the taxpayer paying for better off pensioners. Oxfam chairman Joel Joffe and The […]

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