View more on these topics

Saltr blow as Skandia rethinks accreditation

Skandia has withdrawn from seeking the ABI’ Saltr accreditation because it fears its efforts might be wasted as the industry faces scrutiny under a deluge of reviews.
The decision is a setback for the quality mark scheme, which was launched last October, with dozens of brands, including Skandia, giving their official commitment to seeking accreditation.
But while Skandia says it has already met or exc-eeded the standards set by Saltr, it has put the brakes on the application process until the industry deals with the impact of the Sandler Rev iew and the FSA reviews of disclosure, with-profits and polarisation.
The news comes as the Pensions Protection and Investments Accreditation Board has received the first raft of applications from life offices seeking accreditation.
Skandia spokeswoman Jo Gilbey says: “We are not trying to duck the issues of clarity of information and customer service. We are waiting until after the industry has dealt with the outcomes of the son of Myners and FSA reviews and when unit-linked policies are on a level playing field with with-profits policies in terms of transparency.”
PPIAB chief executive John Cox says: “There was some reticence when son of Myners was announced but life offices are agreed that Raising Standards is likely to be ahead of the game or actually go beyond anything from the formal regulatory area.”


Norwich & Peterborough – Five Year Fixed Rate Tessa Only Isa

Tuesday, 3 July 2001.Type: Mini cash Isa for Tessa maturities.Minimum investment: £1000.Maximum investment: £9,000.Catmarked: No.Interest rate: 5.75 per cent gross a year.Charges: None.Withdrawal penalty: 120 days&#39 interest on amount withdrawn in fixed rate period.Commission: None.Tel: 0845 3002511.

Yorkshire Guernsey – 3 Year Fixed Rate Bond

Thursday, 5 July 2001.Type: Offshore high interest account.Minimum investment: £5,000.Place of registration: Guernsey.Yield: 5.75 per cent gross.Charges: None.Commission: None.Tel: 01481 710150.

Standard Bank Offshore widens choice

Standard Bank Offshore has introduced a fund of funds for offshore investors who have a cautious attitude towards risk.The cautious fund aims to produce capital growth and is denominated in either sterling or US dollars. Half of the portfolio is made up of bonds and the rest goes into stocks and shares and cash.The fund […]

Retirement hardship widening Pensioners and poverty

Three million more people in the UK now face financial hardship in retirement than they did in 1996, according to research from JP Morgan Fleming Asset Management.In its annual survey, the Pension Map of Britain, it found the number facing difficulties when they reach retirement has grown from 9.9 million in 1996 to 12.6 million […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. jnBoqQ vaejwkylmdqk, [url=]vclrchzpaitc[/url], [link=]tlsmrcnibhbm[/link],

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm