View more on these topics

TUC ready to launch stakeholder plan for one million

The Trades Union Congress is to launch its own stakeholder pension plan

for up to one million of union members who do not have pensions.

The plan, which will be available through all the TUC&#39s affiliated member

unions, is in the process of being fleshed out, with the TUC known to be

negotiating with several potential providers.

It is the TUC&#39s aim to launch the plan on October 1, with members joining

from April next year.

The congress says it has a working party consisting of delegates

representing membership, looking at details of the proposed scheme.

The party will also be looking at ways to raise awareness of stakeholder

through employers and unions.

While welcoming the stakeholder plans, some providers and IFAs have

expressed concern that the TUC may restrict membership to union members


They fear that, by restr icting membership, many employers which would

have otherwise designated the TUC plan as their own stakeholder, will have

to look to provide an alternative scheme for their non-union-member


But the TUC denies it is considering such a move, saying it is unlikely

that union membership will be a condition for joining the scheme.

A TUC spokesman says: “At the moment we are looking for a provider. We are

just looking at how we might run a scheme and have not actually got any

full details yet.”


A&L cuts mortgage rates

Mortgage bank Alliance & Leicester is launching rate cuts on its two year fixed rate and five year buy-to-let mortgages. The two year fixed rate will move to 6.19 per cent from 6.49 per cent and the five year buy-to-let rate will reduced to 7.39 per cent from 7.59 per cent. First time buyers will […]

Gartmore £1bn sale

NatWest&#39s fund management business Gartmore has been sold for more than £1bn to Nationwide Mutual, a US insurer based in Ohio.Nationwide Mutual which began life as a farmers&#39 co-operative is paying £1.03bn for the firm, following a cut throat auction conducted by investment bank DLJ. The payment of £110 million for net assets and £920 […]

With-profits could be a hollow victory for stakeholder firms

The publication of the draft regulations on stakeholder pensions means wehave almost reached the end of the stakeholder journey having overcome araft of issues and consultation papers.The shape of stakeholder is now becoming clear although some details stillneed further clarification.What we finally do know is that the Government has taken on board lifeoffice concerns and […]

Market Harboro&#39 hedges its bets with hybrid loan

Market Harborough Building Society has introduced a hybrid mortgage withfixed and flexible features and no extended redemption penalties.The fixed-rate part of the HedgeBetter mortgage is based on a rate of 6.49per cent for two years. The discount is 2 per cent off the society&#39svariable base rate for two years, producing a current rate payable of […]

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]


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