Research by the firm shows that 26 per cent have concerns about their final-salary schemes while only 11 per cent feel more confident about their schemes than they did 12 months ago and 63 per cent say there has been no change in their attitude.Pru says the manufacturing and financial services sectors are showing signs of increased optimism, with 14 per cent of employers feeling more positive than they did last year. According to research by the Pensions Protection Fund, the combined deficit of final-salary pension schemes in the UK is over £100bn. Many firms have injected millions of pounds into their final-salary schemes to plug the gaps but many still face significant shortfalls. Of the 200 firms interviewed, 42 per cent say they would consider implementing a risk management solution in the next 12 months. Prudential UK chief executive of retirement income Andy Briggs says: “The recent drop in stockmarkets has added further pressure on defined-benefit pension schemes. Finding the most effective risk solutions to alleviate pension deficits is a universal problem for the majority of companies.”
Aegon UK chief executive Otto Thoresen says A-Day could help drive pension sales for two or three years. He expects to see the current business momentum continue in the second half of this year and into next year and beyond. Aegon UK saw a 55 per cent increase in life and pension business in the […]
Purely Mortgages has cut its salesforce by almost a half as part of its third financial restructuring in under a year. Purely, set up in 2004, last week cut 19 of its 45 sales staff in a bid to bring its costs down to a level that will see it make profit on a smaller […]
Invesco Perpetual UK aggressive fund manager Ed Burke has more than doubled his large-cap exposure in the last year, He has added Royal Dutch and Shell, BT, Rio Tinto, Barclays, HSBC and ICI to his top 10 holdings, saying he is finding better value in large caps than small and mid-caps. The fund holds 24 […]
At a dinner last week, a very successful adviser said to me “a good adviser never needs to compete on price”.
With European markets picking up in early 2015, Mark Page, Artemis European Opportunities Fund manager, discusses the ‘macro’ drivers and whether the improvements are sustainable. Largely driven by economic stimulus by the European Central Bank, European stockmarkets have performed strongly so far in 2015. Mark discusses the relative merits and sustainability of ECB policy with […]
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Standard Life Aberdeen has sold its insurance arm to Phoenix in a £3bn deal. In the first results since the merger of Standard Life and Aberdeen Asset Management, the firm has said it has decided to exit the insurance market. Phoenix will pay a total of £2.3bn in cash for the business. Standard Life Aberdeen […]
Acquisitions are continuing apace this year but will that trend continue or will the market slow?
Latest statistics show personal pensions, in particular, get a bad rap The recently published preliminary estimates from the Office for National Statistics’ Wealth and Assets Survey make for interesting reading with regards to how people view pension savings and how safe they are. The next round of this survey will be even more interesting in light […]