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Sun Bank launches fixed rate bond

Sunbank is launching a three year fixed interest savings account which pays 7.05 per cent gross interest.

The banking arm of Sun Life of Canada says it is aiming to attract savers who are looking to obtain capital growth on their surplus funds with very little risk.

The minimum opening balance is £1,000 and the maximum is £250,000.

It is also launching a three year fixed monthly income account aimed at 6.96 per cent gross aimed at savers looking for regular low risk income.

For both accounts IFAs earn an up front commission of 0.45 per cent of the initial amount invested on either the growth or income product with no clawback even if the client withdraws the funds early.

The bank says this means an investment of £12,000 would earn the IFA £54.

Sunbank marketing director Chris Cummings says: &#34The perception at present is that the economy is in a low interest rate environment which is disadvantageous to savers who have traditional bank and building society accounts.

&#34We believe our range of accounts offers UK investors very desirable rates.&#34


Prudential rings in the changes

Prudential has announced a series of changes to its management structure as it prepares for the introduction of stakeholder and further development of its e-commerce strategy.Prudential Corporate Pensions managing director Rodney Baker-Bates has been appointed chief executive of its new group pensions division. He will be directly responsible for stakeholder pensions.Alan Smith who is currently […]

Scottish Life swaps senior staff

Scottish Life has announced a top level job swap within its senior management.The swap is part of the life offices long term commitment to broaden the expertise and experience of its senior management.As part of the move Scottish Life assistant general manager marketing Chris Cormack will takeover the position of actuary at Scottish Life International.Cormack […]

CIS cuts premium rates for home insurance

Co-operative Insurance Society is slashing the cost of its home insurance premiums by between 2 and 4 per cent.CIS offers a range of buildings, contents and personal possessions policies and claims this is the fifth consecutive year it has reduced its rates.It is currently offering new customers taking out buildings or contents insurance an introductory […]

Inward investment into UK up 71 per cent

The UK is still one of the world&#39s main recipients of direct foreign investment despite remaining outside of the European single currency according to the Financial Times.The FT says latest figures from United Nations Conference on Trade and Development reveals inward investment into the UK increased by 71 per cent in 1998 to £63.1bn from […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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