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Scottish Widows voices concern over Royal Commission&#39s long term care projections

The Royal Commission into Long Term Care has significantly underestimated the cost of providing care according to Scottish Widows.

The life office says the commission has misjudged the cost of providing personal care free at the time of need when it made its projections.

As a result Widows is writing to the Government ministers to voice its concerns.

Widows healthcare products manager George Andrew says: &#34The cost of the Commission&#39s proposals is put at £1.1bn in the first year.

&#34However, this is based on many assumptions one of which is that there will be little change in the way care is provided by friends and relatives. The value put on this care is massive so even a small change in it would have a large effect on their projections of cost.&#34


Yorkshire based IFA launches asset management arm

Yorkshire based IFA and general insurance broker RP Hodson is launching its own investment armRP Hodson Asset Management aims to offer investors a range of services from portfolio analysis to advisory management on collective investments such as unit trusts and offshore bonds.The firm has appointed Andrew Rattray to head up the firm as managing director […]

Clerical Medical posts 53 per cent increase in new business

Clerical Medical&#39s worldwide new retail business leapt 53 per cent in the first six months of 1999 compared to the same period last year.The life office posted new equivalent premium income of £171m smashing its previous record from last year of £112m last year.Total new EPI business for the UK&#39s IFA retail sector also jumped […]

C&G warns mortgage restrictions could limit flexibility and choice

Mortgage legislation outlined in the Treasury&#39s consultation document could restrict choice and flexibility in the mortgage market according to Cheltenham & Gloucester.The lender claims the fact interest rates do not always mirror the Bank of England base rate is not the real issue.The issue is that all mortgage terms and conditions are explained clearly and […]

PIA fines IFA over pensions review failings

The PIA has fined Hampshire IFA Capital Plans £15,000 over compliance failings on its pensions review.The IFA based in Portersbridge Street Romsey was also ordered to pay £3,500 towards the PIAs costs.Following a visit by the PIAs Pensions Review Monitoring Unit, it was found that Capital Plans had failed to identify and verify a starting […]


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