View more on these topics

Still hanging on the phone

I was very interested in the article ‘Back-book causes backlog at ‘overloaded’ Windsor’ (14 February), as I have experienced the problem first-hand.

Our client is transferring the proceeds of a pension plan to Norwich Union so that he can crystallise his benefits.

The relevant papers were received by Windsor Life on 4 January 2008. The money has not been paid over to Norwich Union.

I telephoned Windsor Life on 25 January and waited over 20 minutes before I could speak to anyone. I telephoned again on February 6 and waited a further 25 minutes before I could speak to anyone.

I was told that the case would take another 10 working days to complete.

I have received today, 20 February, a letter from Windsor Life dated 14 February confirming that a cheque “will shortly be issued under separate cover”. The cheque has not, as yet, arrived at Norwich Union.

I have written a letter of complaint to Windsor Life and have advised them that I will be going back to them with details of the compensation required to cover the loss to the client when the final details are known.

Roy Pearce
Senior Pensions Adviser
KMG Financial Limited


Aegon Sipp adds charging options to group Sipp

Aegon Scottish Equitable is adding four alternative charging options to its group self-invested personal pension to suit different adviser busness models.Previously, its group Sipp could only be sold on single-priced terms but now it can be set up on any of the four structures which make up its flexi-menu proposition.The charges include a discounted annual […]

Fund managers will set up their own wrap platforms

JP Morgan believes that a growing crop of asset management companies will look to offer their own wrap propositions as fund managers try to secure a greater share of the distribution market.Speaking at the Osney Media conference on UK retail fund distribution last week, JP Morgan Asset Management head of UK retail marketing Keith Evins […]

The new deal or no deal?

At last the bankers have delivered. Around $300bn of likely US sub-prime losses have just been offset by as much as $500bn of additional funds announced by the US authorities earlier this month. You have just witnessed the central banking equivalent of the 1930s’ New Deal.Will this be enough? Our answer is probably yes. The […]

‘Action is needed soon to slash base rate’

Wave director of sales and distribution Mehrdad Yousefi says the Bank of England’s monetary policy committee needs to cut bank base rate by 0.5 per cent by early summer to boost the struggling mortgage market.He says: “We need interest rates to be reduced from 5.25 per cent to 4.75 per cent by early summer. That […]

Retirement - thumbnail

(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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