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Virgin Direct converts existing pensions to stakeholder

Virgin Direct is automatically converting 26,000 existing pension customers to stakeholder schemes.

Virgin Direct&#39s Gordon Maw says: “Customers with some other pension companies won&#39t automatically get a transfer from old-style pensions to better value stakeholder plans but will have to make a transfer request. Our customers will have a hassle-free transition to the new age of pensions.”

The Virgin stakeholder pension has a minimum contribution of £1 and an initial annual charge of 1 per cent.


Scott&#39s Cove looks to distressed securities

New-York based Optima Fund Management has introduced the Scott&#39s Cove fund, the company&#39s first distressed securities fund.Registered in Bermuda, the fund is an offshore hedge fund aimed at investors who are looking to add a high risk investment to their portfolio for growth.The distressed securities market consists of US firms which have been in financial […]

Smaller companies call for new long-term savings deal

Smaller companies trade association, the Quoted Companies Alliance, is lobbying the Chancellor for the introduction of a new long-term savings vehicle catering for lum-sum investors. The QCA, which represents Britain&#39s smaller quo-ted companies, has written to Chancellor Gordon Brown outlining proposals for a long-term individual shareholder account. The Lisa would allow individuals to invest up […]


&#39Solid rise in house prices&#39

Continuing rises in house prices are creating a solid outlook for the rest of the year, according to March figures from Halifax and Nationwide. Halifax, the UK’ biggest lender, says the average property price rose by 0.4 per cent in March to £87,453 from February’ average of £87,088. Nationwide figures for March show a rise […]

Norwich Union – Your Pension @ Norwich Union – Group

Friday, 9 April.Type: Group stakeholder pension.Minimum premium: £20.Minimum group size: 1.Minimum-maximum ages: 16-74.Fund links: Stakeholder with-profits, balanced managed, UK index tracker fund, sustainable future managed, retirement protection, deposit, defensive managed, UK equity, European equity, US equity, global bond, global equity, Pacific equity, index-linked gilt, gilt, international index tracker, property, sustainable future UK growth, sustainable future […]


DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]


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