View more on these topics

Widows pension offers external funds

Scottish Widows is offering a stakeholder pension which gives policyholders access to external funds and pays standard Lautro commission levels.

The company says its plan meets the Govern ment&#39s standards as well as offering access to a range of 17 investment funds managed by Widows and funds from Merrill Lynch, Schroders and Newton.

Widows says it is revealing product details ahead of the April launch of stakeholder because IFAs looking to designate schemes for their corporate clients want to see full product details before making recommendations.

The range of external funds offers a choice of active and passive funds all within a 1 per cent annual management charge.

IFAs will be paid initial commission on the regular premiums of up to 45 per cent of Lautro rates. Fund-based renewal commission is 0.36 per cent.

Widows is also reducing its charges on existing personal pension schemes set up from 1988.

The move means that around 278,000 of Wid ows&#39 policyholders will benefit from stakeholder-equivalent charges from the second quarter of this year.

Senior manager (stakeholder pensions) George Andrew says: “We are now in a position to offer access to the detail of our product and a full range of support material for independent advisers looking to designate stakeholder pensions for their employer clients in the run-up to the launch in April.”

Recommended

Mortgage legislation is a cause for concern

The mortgage industry fears the Government is again brushing consumers&#39 concerns aside following its decision to go ahead with what many view as the ill-conceived idea of a seller&#39s pack, while dropping any plans for compulsory insurance regulation. The Queen&#39s Speech last month clearly indicated the way the Government intends to push through any opposition […]

Buy-to-let lending down

Buy-to-let investment levels remained strong last autumn although were down 11 per cent compared to the summer months, according to figures released by the Association of Residential Letting Agents. The total amount lent since the ARLA launched the buy-to-let initiative in September 1996 stands at £4.18 bn. This has brought an additional 61,701 properties onto […]

Record commission for DBS firms

DBS IFA network members achieved record commission levels of £16.2m last November, £2.24m higher than November 1999. DBS says this increase suggests financial services bucked the trend of low consumer confidence during the pre-Christmas period. The British Retail Consortium-KPMG November retail sales monitor says: “The Christmas season did not really get going in November.” Total […]

Tories pledge to adopt McDonald annuity plans

A Conservative Government would adopt the proposals of former Labour social services spokeswoman Dr Oonagh McDonald as part of sweeping reforms of the annuity rules. The McDonald report, written by the former regulator and prominent Labour MP last year, says people should only be obliged to purchase an annuity that secures a sufficient level of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com