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Scottish Life to demutualise

Scottish Life members voted overwhelmingly to demutualise and transfer business to Royal London at its EGM this week.

Qualifying members will receive £500 cash for loss of membership rights and qualifying with-profits policyholders will receive additional reversionary bonuses and a terminal bonus enhancement.

Approximately £960m will be distributed as enhanced benefits to qualifying with-profits policyholders. Windfalls have been an area of contention as anyone who assigned their policy lost their membership rights and will not receive the £500 cash.


MCCB says code breaches are down

The Mortgage Code Compliance Board says there was a reduction in the number of mortgage code breaches by intermediaries in the six months to January 2001. But the regulator is concerned that a quarter of firms visited by compliance officers failed to provide adequate explanations of the level of service they were providing and internal […]

Savills chief blasts Cambridge Econometrics report

Savills Private Finance managing director Mark Chiltern has slammed predictions of a house price collapse by Cambridge Econometrics as being “fundamentally flawed”. Countering claims by the economic forecasting group that house prices in the South East are destined to plummet, Chiltern blasted the research for only being based on the relativity of house prices to […]

Royal & SunAlliance launches employee benefits website

Royal & SunAlliance UK life and pensions is launching an employee benefits website packed which provides access to scheme information for both IFAs and employers.The site contains details of R&SA&#39s group risk and pension portfolios as well as generic information, frequently asked questions and a range of product literature. IFAs and employers are able […]

Public back NHS partnership

Consumer confidence in the NHS&#39s ability to provide a comprehensive service has been brought into question by research from Standard Life Healthcare. It shows 59 per cent of people believe the NHS cannot provide free treatment for every condition, given the number of new drugs and treatments that have been discovered. Fifty per cent believe […]

FAMR – a familiar response

Pension specialist Fiona Tait takes a look at the Financial Advice Market Review and assesses the three areas where it suggests improvements can be made With significant budget changes ruled out (for a while anyway), the pension community briefly turned its attention to the FCA’s final report on its Financial Advice Market Review (FAMR), hoping […]


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