UK: OUTGOING CHAIRMAN PREDICTS BOOM FOR SIPPS
Article Abstract:
The number of UK Sipp policy holders will reach 500,000 by 2010, a 10-fold increase according to the outgoing chairman of the Sipp Provider Group, John Moret. Some GB[pound] 15bn has been invested in Sipps already and Mr Moret sees a rapid growth over the next ten years as people become more aware of the opportunities for investment that Sipps offer. The first online Sipp service, Sippdeal.com, was launched in October 2000 and as more of these companies utilise Web-based technology the costs of Sipps should come down, making it less elitist and more attractive to investors. Two thousand new Sipp contracts have been taken out in the first half of the year while for the whole of 1999 the total was 3000.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
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UK: EMPLOYERS FACE COMPULSORY PENSION PROVISION
Article Abstract:
Employers face a compulsory pension provision by 2004 and possibly by 2002, claim some consultants. The provision will be a stealth tax commencing at 3%, after which it will increase, they claim. Employers are likely to be forced to provide the pensions as a second state pension has never been perceived as politically viable, claim some insurance industry executives. The move would be an employers' stealth tax, claims Scottish Equitable's director of pensions development Stewart Ritchie, as it would be unviable for individuals to be forced to take out a stakeholder pension.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: ONE FIFTH OF MARKET COULD GO TO STAKEHOLDER
Article Abstract:
Stakeholder business will represent 19% of all pension premiums by the year 2005 which equates to GB[pound] 14.6 according to Datamonitor, the market analysts. However, this business would mainly be a redistribution of money originally destined for personal pensions. The individual stakeholder sector will probably be larger than expected as the tax advantages will appeal to high earners looking for a method of savings and investment. CGNU and Axa are among several firms tipped by Datamonitor to be leaders in the initial market.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2000
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