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Small businesses unaware of stakeholder

A survey carried out by the Prudential shows that 63 per cent of small employers do not know that stakeholder pensions will go on sale in April.

Failure of companies with more than five staff to offer access to stakeholder pensions by October 8, 2001 could result in prosecution and fines of up to £50,000.

It is believed that around 250,000 employers will for the first time have to set up arrangements for employees to pay in to stakeholder pensions.


First Direct has Capital idea for phone-based IFA service

First Direct launches its telephone-based IFA service this week under the brand First Direct Capital. The internet and phone bank has so far invested £3m in the service, mainly meeting regulation, compliance and staff needs, while a further £3m is being spent on marketing. The bank has recruited 52 IFAs and plans to have 100 […]

Money Marketing awards in March

The Money Marketing Financial Services Awards, run in partnership with The Exchange, will be presented on March 29 at the Grosvenor House Hotel in London&#39s Park Lane. There are nine award categories including Campaign of the Year and Best Use of New Media by an IFA. Entries for the awards must be submitted by January […]

National Counties Building Society launches fleximortgage

National Counties Building Society has launched a fleximortgage with an initial payment rate of 4.69 per cent for the first six months. The rate is available for purchases or remortgages up to 80 per cent of the property value, on loans between £30,000 and £250,000. No lender processing or valuation fees apply. The building society&#39s […]

Equitable gains from shift to bonds

Equitable Life has made a £14m gain as a result of being forced to move its investments from shares to government bonds following the House of Lords judgment last July. Equitable was forced to move share investments into government bonds to ensure that guarantees to policyholders are backed by safe investments. Consequently the company missed […]


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