View more on these topics

Stakeholder clients &#39lack contracting-out advice&#39

Life offices believe the Government must issue advice on contracting-out or risk leaving stakeholder clients in limbo.

They fear, without clear guidance, many potential clients will be left confused over whether contracting out of Serps and the state second pension is in their best interests.

The concerns were revealed in a survey of 22 life offices by IFA Torquil Clark. The proposal that the Government should provide guidance received 100 per cent support.

The survey follows the FSA&#39s decision to leave contracting-out off decision trees.

Pensions development manager Tom McPhail says: “Providers and advisers are not going to risk giving advice in an area of pension planning which even the FSA has shied away from by withdrawing the contracting-out element out of its proposed decision tree.”

Recommended

Three providers lay their stakes

Following CGU Life&#39s entry into the pre-stakeholder market with its new product, Your Pension @ CGU, we asked our broker panel to compare it with Equitable Life&#39s 2000 personal pension plan and Friends Provident&#39s New Generation plan.Commenting on the mar-ket suitability of the CGU plan compared with the Equitable Life and Friends Provident products, Price […]

GE may return to ScotLife bidding

GE Capital may re-enter the bidding for Scottish Life if an auction is declared or if IFAs show sufficient support for a GE-owned ScotLife, claim sources close to GE.The move follows the suspension of talks on Friday between GE and ScotLife after failing to agree a price.It is believed the pension specialist did not think […]

Gale to be Misys IFA chief executive

Misys IFA Services has appointed Patrick Gale to its newly created position of chief executive. covering five networks and 4,200 registered individuals.He is an internal candidate from the Misys group but was not part of its financial services arm.Misys IFA Services has been left rudderless sincethe resignation of chairman Jim Gaskin in May which was […]

Move to Dublin escapes review

Eurolife has launched a new income or growth plan which bypasses an Inland Revenue review of high-income bond taxation by using a Dublin-based company.The Eurolife income or growth plan offers 10 per cent income or 30.25 per cent growth tax-free for Isa and Pep investors. Basic-rate taxpayers buying direct investments receive 9 per cent net […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com