Wentworth Rose has negotiated special terms with GE Life to offer a structured investment product aimed specifically at Equitable Life policyholders looking to transfer out. The product provides a capital guarantee through buying a share in a Dublin based GE company within a Sipp wrapper in which life office has waived the charges. The IFA says the capital guarantee together with the potential of 80 per cent of equity growth is suitable for savers taking Equitable's 20 per cent MVA hit. Wentworth Rose stresses that Equitable policyholders are given full advice and this is the first of a number of products aimed at this market.
The Pickering report proposes that an employer should be allowed to make it a condition of employment that a new employee joins the pension scheme. It also notes that both the CBI and TUC have indicated support for such change. This is powerful backing.The proposal depends on immediate vesting and extension of concurrency above £30,000 […]
In the current economic climate, policyholders and financial advisers are understandably concerned about the future viability of life insurance companies. Since insurers' FSA returns for 2001 were made publicly available, many press articles have championed free-asset ratios as indicators of financial strength.However, in an issues paper on regulatory reporting published by the FSA last November […]
Scottish Mutual has introduced the fourth issue of its income and growth plan, a guaranteed equity bond that is linked to the Eurostoxx 50 index through a Dublin-based company called Quaich Investments 8.The plan has two options. The balanced income and growth option offers annual income of 8 per cent, quarterly income at 1.9 per […]
The Consumers' Association is calling for a non-political body to be set up, responsible for pension policy in the UK, citing failure by the Government to address the growing pension crisis.CA senior policy adviser Mick McAteer issued the call for a new body which would depoliticise pensions at the Liberal Democrat Conference in Brigh- ton […]
In the run-up to the Budget, there was some concern that the chancellor might ‘call time’ on the use of salary sacrifice in employee benefits provision.
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The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]