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Think Tank calls on Government to relax annuity requirements

Think-tank Social Market Foundation is joining the growing clamour for the Government to relax its annuity requirements.

The group says the obligation now on pensioners to buy an annuity at 75 is highly damaging and the case against it is overwhelming.

The conclusion is part of a report on different ways pensions funds can be drawn on by pensioners in retirement commissioned by Winterthur Life and its subsidiary Personal Pension Management Limited.

It says the Government has so far rejected forcing people to start a pension, but it says those who have chosen to save for retirement are forced in to purchasing an annuity.

The report says: “A Government committed to a serious reform of savings cannot afford to avoid removing antiquated and unnecessary regulations that serve to undermine its attempts to boost the rate of British savings.”


Supermarkets will not leave IFAs on shelf

It seems that every time you turn round, someone has opened a so-calledfund supermarket.Generically, this is a concept that allows investors and IFAs to accessmanaged funds from a wide range of providers via a single route.Fund supermarkets are, of course, yet another example of new methods offinancial management being imported from the US where, according […]

Software gives compliance early warning

Financial software company Synaptic Systems has developed an early warning system which alerts networks to IFA compliance breaches before regulatory visits.The pre-compliance software enables networks to follow their IFAs&#39 tracks as they complete the sales processonline – but only if the IFA consents.The audit trail is submitted to the network&#39s compliance department where it can […]

ABI rethinks extension of cooling-off period

The ABI has backed down in the face of widespread industry criticism overits proposal to extend cooling-off periods from 14 days to two months.Instead, the ABI, under its Savings and Long Term Risk initiative, haswatered down its proposals to 30 days, which IFAs consider more acceptable.The proposal is part of an overall revamp of the […]

IFAs are squids in with leads from net

More than 130 IFAs have been introduced to new clients through a new sales service website site refers users of thesite to IFAs in their local area free of charge.IFAs are charged £3 a lead by the service.The Squidshop says it has received more than 25,000 positive leads even before is has done any […]

Jelf flexible benefits

In Focus: How to choose a flexible benefits provider — seven top tips

Jelf Employee Benefits looks at some of the key considerations employers should think about when reviewing and choosing a flexible benefits provider. Choosing the right benefits for your employees is one thing but delivering a successful employee benefits strategy is about understanding the complete picture and delivering it in a personalised way so that it resonates with each and every individual in your business. 


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