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The pension impact

Scottish Equitable manager (pensions development) Margaret Craig “You can&#39t look back on 2000 without mentioning the S word – stakeholder.

“Stakeholder won&#39t just have a huge impact on provision but throughout the year what proved the most amazing thing about stakeholder is its huge impact even before it is launched in April 2001.

“I can&#39t think of another time when a pensions idea had so much impact.

“Individual pension acc ounts also gradually emerged from the alphabet soup of Lisas and PPIs in 2000. But for IPAs, the proof of the pudding will be in the tasting next year. I&#39m not yet convinced of what benefits they will deliver.

“What also took up a lot of our attention was the growth of decision trees. It is a huge task to help people to help themselves.

“It will be interesting to see if this way of informat ion and giving help but not advice, actually helps inc rease provision.

“Also, in 2000, the changes to pension sharing and divorce rules had huge advice implications.

“The changes mean a new set of customers, in the form of ex-wives, will start to seek advice to secure part of their ex-husbands&#39 pensions.

“There will be a lot of work with these customers next year.”


Action on loan shortfalls

The ABI has had a busy 2000 with its involvement in the Raising Standards project and endowment mortgage letters. The launch of the Raising Standards kitemark has been broadly welcomed by the ind ustry, with 78 per cent of the life and pension market clai ming to be willing to seek accreditation under the new […]

ABI defends with-profits at calls to control market

The ABI and major life off ices are hitting back at calls to curb the multi-billion-pound with-profits market following the Equi table Life debacle. The move follows nat-ional press criticism and comments by FSA chairman Howard Davies on the dec reasing appropriateness of the products for many consumers. With-profits have taken a drubbing since Equitable […]

Present imperfect

As I write this, I cannot help but wonder what IFAs are wish ing for this festive season. With just over four months to go until the most radical change in pension provision in the UK for a generation or more, stake holder business is sure to be top of the wish-list this Christmas. Like […]

Best advice?

Further to the recent correspondence regarding polarisation and multi-ties, the problem lies in the stakeholder decision trees. If a person needs further help because they already have a pension arrangement and want to review their position or because their circumstances do not seem to fit the tree or because they wish to obtain advice which […]


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