Plans for everyone from cradle to grave

Article Abstract:

UK friendly societies offer a range of products such as ten-year savings plans with life insurance. Savers should only embark on these schemes if they are sure they will be able to invest for the whole ten-year period, since the cost of an early withdrawal is high. Legislation passed in 1992 allows UK friendly societies to offer a wider range of products such as general insurance and pensions. Friendly societies have traditionally been accessible and it is hoped that they can retain this quality while expanding.

Financial services industry, Financial services

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A decisive and spirited comeback

Article Abstract:

Friendly societies have benefited from the UK 1992 Friendly Societies Act which has allowed societies to become incorporated and offer a wider range of products. There are 12 major friendly societies accounting for 75% of UK assets. They aim for social responsibility but there are concerns over their safety. Most societies belong to a voluntary scheme and there is likely to be an obligation to comply with the Policyholders Protection Act in the future.

Insurance industry

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Investing your trust: diversification is crucial to spreading risk. Investment trusts provide small portfolios with the means to do it. But before we invest, we need to know what they are

Article Abstract:

Equity investment requires a spread of risk and many private investors invest through a collective investment scheme. Investment trusts are closed-ended investment companies whose share capital is invested in its shares by private or institutional investors. Unit trusts are open end with new units crerated for new investors. Both can be used as vehicles for personal equity plans and neither are taxed on their capital gains within a fund.

Planning, Personal finance, Mutual funds

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