UK: Pensions sharing market could grow

Article Abstract:

Margaret Craig, pensions development manager of Scottish Amicable, believes that after the implementation of the new financial regulatory system, pension sharing as a result of divorce could prove a lucrative market. Craig says that independent financial advisers and solicitors could collaborate under the new regulatory system.

Government regulation (cont), Investment advice, Investment Advisory Services, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Scotland, Financial Regulation & Reporting, Investment advisers, Financial disclosure

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UK: CIS CUTS PAYOUTS BY UP TO 6%

Article Abstract:

Co-operative Insurance Society (CIS) has cut terminal bonus payouts on 25 year with profits policies by up to 6%, with 10 year personal pension payouts axed by 4.4%. The Platinum Bond Plus product annual bonus has been kept at 5%. In 2000, new unit trusts, pensions and life business was valued at GBu 300mn.

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UK: COMPENSATION FOR MIS-SELLING COULD BE GB 12BN

Article Abstract:

The estimated total compensation for the mis-selling of pensions could be as much as GB[pound] 12bn, according to the Financial Services Authority's chairman, Sir Howard Davies. Davies criticised the lack of transparency of with-profits products and the misleading terminology.

Product standards, safety, & recalls, Insurance industry, Davies, Howard

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