New pension, new problems
Article Abstract:
The UK Office of Fair Trading has issued a report reviewing current pension arrangements and suggesting changes for the future. It has proposed the introduction of a Designated Pension Plan (DPP) involving investment in equities. This would be passively managed through tracker funds, with expenses being a proportion of fund value. Employers operating an occupational scheme would instead contribute to an employee's DPP. This approach has some attractive features, but is likely to attract opposition from the fund management industry, the pensions industry and employers.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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The ghost of scandals past ...
Article Abstract:
Some personal pension plans available in the UK offer considerable benefits for plan holders, while others should be avoided. However, it is very difficult for ordinary people to ensure that they get the best deal, as the regulations on disclosure of charges introduced in 1994 have not produced reliable comparisons of the effects of charges. Companies still use a wide range of charges to recoup their expenses, which also differ greatly. It is now vital that a clear rating system for personal pension plans is introduced.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Should I stay or should I go to another plan?
Article Abstract:
The main decision facing people who stop paying premiums to a personal pension scheme is whether to switch to another pension scheme or remain in their existing scheme. The main factor to take into account when making this decision is the likely returns if the lump sum is kept in the same scheme or a transfer is taken. It can be tempting to transfer to a scheme which offers very low changes. However, consideration must be given to the anticipated growth of a paid-up plan with the existing pension provider.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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