Heavy chargers

Article Abstract:

Investors selecting a personal pnesion in the United Kingdom may be able to choose from low-cost stakeholder pension schemes from 2001. It is unclear whether they will be able to transfer existing personal pensions into the new scheme. Investors should avoid products with high commissions, especially where they charges ar higher for the initial years of the scheme. Companies may not always show the value that would be paid if investors stopped paying contributions early. Schemes should offer contributions holidays, since it is unlikely that contributions can be made every month over a 20-year period.

Personal Financial Mgmt, Personal finance

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Mix'n match

Article Abstract:

Final salary pension schemes offer benefits to emplyees with a single employer during their working lives, but these benefits are less if they change employers. Money purchase schemes are being introduced by many major companies and many companies are considering closing final salary schemes. Employers tend to have lower costs with money purchase schemes which cost more for employees who are older than for younger employees. Younger employees may benefit from money purchase schemes, though they involve more risks than final salary schemes.

Defined benefit plans, Defined contribution plans

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D-I-V-O-R-C-E

Article Abstract:

Pensions tended not to be included when assets were divided on divorce in the United Kingdom until 1996. After Jul 1 1996 this changed in most of the UK, except Scotland where the change occurred after Aug 19 1996. Clean break pension splits are proposed for 2000 since there are difficulties relating to splitting benefits on retirement. There are a number of issues that have to be tackled including sharing pensions already being paid, and the impact of changes on charges.

Economic aspects, Divorce

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