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Scottish Equitable highlights the need for stakeholder advice

Scottish Equitable believes professional advice is the only means to absolve employers from liability should their chosen scheme underperform.

The life office says there is a general reluctance among employers to be held accountable should a stakeholder scheme underperform.

In its response to the second stakeholder consultative brief, Scottish Equitable is calling for the Government to encourage employers to seek advice as part of duty of care.

The company says there is a need to take into consideration investment performance and rider benefits such as life cover and waiver of premium, but, it believes employers are ill-equipped to make such decisions.


GAM appoints chief investment director

Global Asset Management has appointed David Smith to the role of chief investment director controlling its multi-manager funds.Smith will continue to have responsibility for Gam&#39s multi Europe Fund, but he will now also manage the group&#39s flagship multi-manager fund Gam Diversity Inc.Gam managing director mutual fund division Christopher Cottrell says: &#34Gam was established to provide […]

Wesleyan Home Loans abolishes redemption penalty lock ins

Wesleyan Home Loans is abolishing redemption penalty overhangs on its range of mortgages.The move will apply to its range of new loans from August 12.Wesleyan Home Loans director Frank Brooks says: &#34As financial services evolve in the UK, it has become increasingly evident extended lock ins are neither appropriate nor acceptable.&#34We pride ourselves on being […]

IFAs lambast OFT polarisation report

IFAs and consumer groups have derided the Office of Fair Trading&#39s report on polarisation as a &#34dog&#39s dinner&#34 which will bewilder consumers.The much-delayed report calls on the Government to scrap polarisation rules for unit trusts and Oeics, while maintaining the status quo for life insurance and personal pensions.While the industry has taken comfort from the […]

Scot Life enhances GPP range

Scottish Life has made a number of enhancements to its Talisman group personal pension plan.In a move to underline its commitment to the GPP market the life office has added a stakeholder friendly option. This provides IFAs with the opportunity to use a level load charging structure which can also be adapted to stakeholder at […]

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What price (more) freedoms?

George Osborne will make his last Budget speech of the current parliamentary term this week, and the early media briefings suggest that pensions will again feature heavily in that statement. So what are we able to learn from the weekend’s coverage?


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