View more on these topics

SSAS offers commission or fee rebate to clients

Pension scheme administrator Apogee is offering IFAs a choice of commission or a fee rebate to consumers when using its online service to set up a new small selfadministered scheme.

Apogee, which specialises in SSAS schemes, says the vast majority of its new business comes from IFAs or accountants and it hopes its latest initiative will make it easier for them to use its service.

Consumers who use the website directly are charged £1,950 plus VAT for each new scheme.

Professional introducers, however, can choose between a £1,000 payment for introducing the business, rebating the payment to the consumer or a combination of the two options.

Apogee says, in its experience, many IFAs active in the SSAS market tend to be fee-charging advisers so they may choose not to accept the payment and instead pass it on to their clients.

Managing director Mark Edwards says: “We are recognising the fact that very few schemes come in via the general public.

“Most of our business comes through professional introducers such as IFAs or accountants and we hope this initiative will make them more likely to think of us when doing SSAS business.”


IFA proposes pension conversions

A Bath-based IFA is proposing that loyalty scheme points and cash-back offers should be convertible into pension savings in a bid to bridge the retirement savings gap. Money Wise IFA director Malcolm Coury has lodged a patent for the idea that would aim to convert consumer offers into pensions savings.

Sippdeal – SIPPcentre

Friday, 1 November 2002 Type: Full Sipp Minimum investment: Lump sum £1,000 Investment choice: All Inland Revenue permitted investments except commercial property and trustee investment plans Charges: Initial £120 Commission: Initial up to 3%, renewal up to 0.5% Tel: 0870 7588859

Higher-rate tax relief for pensions

I would just like to clarify my position with respect to higher-rate tax relief for pensions.Contrary to the article of October 24 in Money Marketing, I am not proposing scrapping higher rate. It was a comment from the Inland Revenue which apparently talked about this.My proposal is that everyone should get higher incentives for their […]

Remortgages continue to fuel banks&#39 lending boom

September&#39s gross mortgage lending totalled £13.1bn, 34 per cent higher than the £9.8bn lent during the same period last year, according to latest figures from the British Bankers&#39 Association.However last month&#39s lending was 8 per cent down on August, when £14.3bn was lent by banks in the UK.The BBA says the underlying seasonally adjusted increase […]

Sticking to valuation discipline when investing in China

Journalist Alexis Xydias discusses the opportunities – and potential pitfalls – of investing in China with Artemis fund manager Peter Saacke. With Peter holding significant positions in China in the Artemis funds he manages, journalist Alexis Xydias quizzes Peter on the risks of investing in Chinese stocks – including over-valuations, margin trading and financial reporting issues. Click here for video


News and expert analysis straight to your inbox

Sign up


    Leave a comment