View more on these topics

ScotEq offers clustered section 32 plan

Scottish Equitable has added a clustered section 32 plan to its pension range ahead of A-Day.

Clustered section 32s are being touted as a good way of maximising tax-free cash ahead of April 2006 as each cluster is effectively treated as an individual pension scheme in its own right.

ScotEq’s version will have 10 clusters, with demands for more clusters being dealt with on a case by case basis.

Minimum investment is 250,000 and 50,000 per cluster thereafter. ScotEq says 10 clusters should be enough to satisfy most investors’ retirement planning needs.

This also minimises a potential admin headache after A-Day. From next April, each individual cluster has its own registration and annual reporting requirements with the Inland Revenue and the Revenue must be notified when a cluster is vested. Abbey has been lobbying the Government to reduce this burden as its section 32 has 1,000 clusters which will be massively onerous to administer.

ScotEq pensions spokeswoman Margaret Robertson says: “Section 32s will be a big market in the run-up to A-Day, we think, and we are enhancing our offering to meet inv-estor needs.”


NDF offers mature approach

NDF Administration has introduced he NDF growth plan, a six-year guaranteed equity bond which has the potential to mature earlier.

PWC auditor to be fined by the FSA for committing market abuse

The Financial Services and Markets Tribunal today directed that the FSA fines Mr Arif Mohammed, a former Pricewaterhouse Coopers audit manager, 10,000 for committing market abuse. This is the first time the market abuse provisions in the Financial Services and Markets Act 2000 have been the subject of a Tribunal decision. Mr Mohammed bought shares […]

Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.


News and expert analysis straight to your inbox

Sign up


    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