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Soaps clean up on pensions

This year will, of course, be the biggest for pensions for a long time, with the launch of not one, but two brand-spanking new pension concepts in the form of Individual Pen sion Accounts and (you may have heard of this one) the long-awaited stakeholder pensions.

Both schemes will be a roaring success, particularly in the individual market. This audience will be so wooed by the multi-million-pound advertising campaign, it is all they can do to resist diverting their hard-earned Friday night funds into a stakeholder.

It is easy to visualise the stakeholder telly ads: Corrie cuts to a commercial showing a scantily clad young couple frolicking on a sunny beach to the strains of the Lighthouse Family. But wait! The scene fades to an impoverished future where the elderly, unstak eholdered couple huddle round a one-bar fire, bef ore the ad switches back to the now frowning couple.

Rubbing their chins, they grab their beach towels and get themselves down to their bank to get missold a stakeholder, to start contributing without delay.

Also in 2001, many IFAs will be forced to install 0898 numbers. This will not be a desperate attempt to diversify their income streams in light of the banks muscling in on group stakeholder business, but an attempt to deal with the floods of Equitable Life policy holders expecting free advice.


Same product, different name

The UK pension market is about to change substantially. Indeed, I am fairly sure we are about to witness a genuine structural change in both the focus of the market and the nature of products. People have made such predictions before, I know, most notably in the mid to late 1980s with the coming of […]

New members of SIPP Providers Group committee

The SIPP Providers Group elected three new members to its committee at its AGM in December. John Hayward of Carr Sheppards Crossthwaite, Francis Moore of European Pensions Management Limited and Ian Stewart of Denton&#39s Pension Management were all appointed. Martin Cadman of MC Trustees took the place of John Moret as chairman. Cadman says: “With […]

Downing Corporate Finance – Downing Classic VCT 3

Thursday, 4th January 2001.Aim: Growth and income by investing in technology companies and mature unquoted companies including those in AIM and OFEX.Minimum investment: £5,000.Opening-closing date: November 2, 2000-January 31, 2001.Charges: Initial 5 per cent, annual 2 per cent.Commission: Initial 2.5 per cent, renewal 0.25 per cent.Tel: 020 7411 4700. 

Scottish Equitable asset management rebrands

Scottish Equitable Asset Management is re-branding as AEGON Asset Management. This is part of its drive to increase assets under management to over £50bn in the next three years from the current figure of £34bn. When Scottish Equitable Asset Management was formed two years ago it has assets under management of £20bn. The re-branding also […]


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