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Stub out cigarettes and double your pension, says L&G

Legal & General is encouraging smokers to bin their cigarettes and put the money towards a pension pot.

The firm believes smokers could more than double their pension pot by quitting.

It says a male basic-rate taxpayer paying £100 a month gross for 35 years would have a projected pension at retirement of £17,900.

If this man smoked 20 cigarettes a day at around£5 a packet, he could quit and increase his pension contribution by £120 a month, which could boost a pension to £46,800.

The message has been timed to coincide with national No Smoking Day this week which is aimed at the UK&#39s estimated 13 million smokers.

L&G director pensions marketing Andy Agar says: “It is surprising just how much money goes up in smoke. Each year, over one million try to give up on No Smoking Day. Paying £120 a month into a pension can make a big difference to living a wealthier and possibly healthier retirement. For those new non-smokers who have not started a pension, then this is a real incentive to start their value for money pension planning.”


King of hearts

If you have met Norwich Union PR hound dog James Evans, you won&#39t be surprised to hear he is taking his wife to Las Vegas to get their wedding vows resworn by Elvis.Evans, who demands that people in the NU press office call him The King, is flying out to the gaming capital of the […]

Make the switch to charging fees

IFA Fee Based Advice is organising a two-day course for advisers on the 4th and 5th of April in Manchester on how to switch to charging fees.The course is aimed at developing the skills of practice managers. It will be lead by Ken Moore, a director of Fee Based foundation – a sister company of […]

Morley Fund Management – Morley High Income Property Fund

Friday, 14 March 2003 Type: Unit trust Aim: Growth by investing in direct property, property related corporate bonds and cash Minimum investment: Lump sum £10,000 Investment split: Direct property 75%, property related corporate bonds 20%, cash 5% Isa link: No Pep transfers: No Charges: Initial 5%, annual 1.5% Commission: Initial 3% Tel: 0800 5874561

Inside Edge

Investing in a quality IFA firm is a means of securing long-term return for the overall group, not about buying short-term sales.Over the last 12 months we have seen a number of providers investing in IFAs. Critics have dismissed this trend as insurers rushing to “buy business” and secure guarantees of increased sales of their […]

Help, I’ve been appointed as a trustee. What are my responsibilities?

Graeme Robb, Technical Manager at Prudential looks at the key duties and responsibilities of a trustee.  This article will consider the following: Duties to be performed on appointment Investment duties Protecting the interests of beneficiaries Keeping accounts and records Distributing property to beneficiaries Duties to be performed on appointment Obtain a copy of the trust […]


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