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Winterthur ditches pension fee

Winterthur Life is removing the 1 per cent contribution charge on

regular-premium pensions next month due to stakeholder pressure and to make

investment returns more competitive.

It says personal and executive pensions in its regular-premium range offer

an alternative to stakeholder for clients who want a cost-effective premium


It says people with a 1 per cent stakeholder contract face a reduction in

yield of 1.07 per cent on their investment and could now get a higher

return on their investment with Winterthur.

With the removal of the admin charge on July 1, clients with a regular

premium pension policy worth £250,000 will face a reduction-in-yield

charge of 0.35 per cent, those with £100,000 face an RIY of 0.4 per

cent and on £50,000 it will be 0.47 per cent.

The new charging structure applies to everyone who have taken a policy out

since November 1999 as well as new policyholders. Winterthur says this is

commercially viable because it has streamlined processes and systems.

Individual pensions product manager Sandra Fulton says: “This lets IFAs

offer a better contract to clients.”



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Well, what a week that was. On Tuesday morning, Misys ann-ounced an agreedbid for DBS Financial Management, bringing considerable technology savingsfor product providers and real hope for a truly outstanding, fully workingIFA quotes and service portal within the next 12 months or so. It will be great to work closely with Ken Davy and his […]

Exchange set to take on super-portal

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Big Brother encourages house hunting, says B&B

Recent hot weather has slowed the pace of house sales by more than twoweeks, claims a report from Bradford & Bingley Estate Agents. B&B says summer activities have led to house hunters put off searching forhomes. The report found that it currently takes an average of 11 weeks to sell ahouse, an increase from the […]

Barclays launches European wealth management operation

Barclays is launching a new wealth management operation, aimed at high net worth customers across Europe.Called Barclays Private Clients, the new operation will bring together Barclays&#39 existing Premier, Europe, offshore, private banking and stockbrokers arms. Barclays hopes the strategy will increase client numbers by 40 per cent to 1.4m by 2005.Barclays Private Clients chief executive […]

Sierra Leone cover image - thumbnail

White paper — Sierra Leone International Insights

Jelf Employee Benefits assesses the areas that employers should be aware of when considering operating in Sierra Leone, including healthcare access, delivery and insurance provisions. This report draws on various sources to highlight specific considerations for this emerging jewel in West Africa.


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