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Standard Life revamps EPP

Standard Life has ditched its range of occupational pensions in favour of single-charged plans. The range consists of an executive personal pension, group money purchase plan, group AVC and premier small self-administered scheme.

The EPP provides access to 20 Standard Life funds covering areas such as UK equity, European, property, Far Eastern and ethical funds. There are eight external fund links from Deutsche, Fidelity, Gartmore and Threadneedle.

EPPs have some advantages over personal pensions and stakeholder schemes. For example, an employer can make a single premium contribution to allow an employee to catch up on a missed contribution.

The Standard Life EPP is more competitive in terms of charges than Skandia&#39s Multipension executive pension, which has an initial charge of 5 per cent and an annual management charge of 0.75 per cent. However, the Skandia product offers 222 external funds which may justify the higher charges if the best performers can be chosen.

According to Standard & Poor&#39s, four Standard Life funds are first quartile, five are second quartile, five are third quartile and two are fourth quartile based on £1,000 invested on a bid-to-bid basis with net income reinvested over three years to February 1, 2002. There is no three-year past performance for the with-profits, global selector, UK smaller companies and structured funds.


Inside edge: Equitable Life

You may have read of the High Court&#39s approval of our enormously important compromise scheme following overwhelming support from your fellow policyholders. The High Court refused permission to appeal, although it is possible that permission to appeal may be sought in the Court of Appeal. As the scheme has been registered at Companies House before […]

Now the FSA tells the public to ignore funds&#39 investment strategy

The FSA has been heavily criticised by IFAs and fund managers for warning investors using its comparative tables not to consider investment process when choosing a fund.They claim that the regulator&#39s move is irrespon-sible as the process used is often an essential element in making an investment decision.In an accompanying note to the tables entitled, […]

Online service for mortgage intermediaries

A new online service for mortgage intermediaries is being launched by 121 Legals, a network of solicitors, giving them access to a panel of legal professionals and conveyancing quotes. Intermediaries can register for the service free of charge and pick their preferred solicitors from a list, banded according to price. Every time they log onto […]

Power switch to distributors

For almost two decades, legislation has been the primary stimulus for change in financial services.Initial reactions to CP121 have been mainly defensive but if the paper is implemented in full, it will lead to significant structural changes in the financial services industry. The longer-term outcome will be a shift in the balance of power away […]


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