Scottish Widows has been appointed to provide an AVC scheme for the West Yorkshire local authority's pension fund. It will administer the plan alongside Equitable Life, which was previously the scheme's sole provider. The pension fund is valued at £5bn and has around 80,000 contributors working for more than 135 employers within the local authority. Widows recently took on AVC schemes for Nottinghamshire County Council and South Yorkshire Pensions Authority.
The Government Actuary says income protection insurance may need to be compulsory as a result of stakeholder.Speaking at a Unum-sponsored symposium on disability in London last week, Gov- ernment Actuary Chris Day-kin claimed many employers will no longer provide staff with protection for long-term illness or disability, leaving the Government to fill the gap with […]
Framlington has introduced the UK smaller companies fund, a unit trust that aims to provide capital growth.The fund invests in a portfolio of between 80 and 100 stocks in the UK smaller companies sector. Although technology stocks will be considered, other stocks from other sectors such as aerospace and the media will also be selected.The […]
Thursday, 29th March 2001.Capped term: Until July 1, 2002.Capped rate: 7.55 per cent.Minimum loan: £25,001.Maximum loan: Up to 90 per cent of valuation subject to a maximum of £500,000.Income multiples: 3.5 times principal income plus second or 2.75 times joint.Arrangement fee: £395.Redemption fee: 6 per cent of initial loan in years one and two, 5 […]
How will today's mortgage sourcing systems evolve in the coming years? This question affects over 50 per cent of IFAs, since more than half use a mortgage sourcing system.I assume that the other half are not involved in writing mortgage business. I say this because I believe it is impossible to offer a client the […]
Dr. Andrew Lo, Founder and Chief Investment Strategist at AlphaSimplex, discusses how the firm adapts to changing market conditions, focusing on their drawdown strategy.
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One of the men behind an illegal collective investment scheme has been sentenced to another year in prison after failing to pay his FCA-ordered compensation. Ross Peters was one of eight men convicted over their role in a land banking scheme. The group ran a Ucis operation through three companies which cold-called potential investors to […]
Aviva has apologised after a website issue left some advisers unable to submit applications on behalf of clients last week. Money Marketing understands online access was disrupted until at least 5:30pm last Friday. It is understood some advisers were unable to submit applications on behalf of clients, for example, life and critical illness cover applications. […]
Retail investors have stuck by Neil Woodford in 2017 despite several multi-managers pulling money from the star fund manager. The Woodford Equity Income fund was the second most popular with Bestinvest retail investors, although Fundsmith Equity was the “clear and decisive winner” when it came to inflows via the investment platform, says managing director Jason […]