Essex-based traded endowment specialist Shepherds is to become the first trader to buy unitised with-profits policies. It says accepting unitised policies will dramatically boost its sales because the majority of policies taken out over the last ten years have been unitised. The company has developed a specialist team of actuaries to deal with the charging structures of unitised policies.
Furness Building Society is offering all new homebuyers one years free accident sickness and unemployment cover for their new loan.The "Freestart' ASU scheme is fully compliant with the Association of British Insurers and Council of Mortgage Lenders new mortgage payment protection insurance guidelines.Cover is written on a back to day one basis after an initial […]
The Government will reject the Royal Commission on Long Term Care's main proposal to provide free nursing care regardless of personal circumstances, according to the Financial Times.The report says health minister Frank Dobson will discard the Commission's recommendations in favour of a three-month period of free nursing and residential care.The paper says the proposals will […]
Portman Building Society has launched a one year fixed rate bond paying 5.75 per cent.The bond has a minimum investment of £500 or £1,000 for postal applications.No withdrawals are allowed during the term.
Legal & General is launching a second version of its with-profits bond.The bond is aimed at investors looking to achieve capital growth and is designed to complement the existing with-profits income version.The new bond offers a choice of either a 5 per cent initial charge or a monthly charging version of 0.75 per cent a […]
By Fiona Tait, Pensions Specialist The new State Pension (nSP) will be implemented at a maximum flat rate of £155.65 per week in 2016/17. This is good news for some, not so good for others. Women and the nSP I am a woman.1 However, this does not really affect my State Pension, largely because I […]
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]