Life insurers' dark secret
Article Abstract:
UK investors in personal pensions and endowment policies lose financially if they cease to pay into schemes early on. The UK Personal Investment Authority (PIA) has issued persistency rates for individual companies using data for sales made in 1993 and 1994. The rates measure people persisting with the policies after two years. Persistency rates for endowment policies sold by direct sales divisions were 86% compared with 90% for policies sold by financial advisers. Personal pensions sold directly had a 75% persistency rate and those sold through advisers had an 84% persistency rate.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Pensions to help you live long and prosper
Article Abstract:
Selecting a personal pension plan is a major decision since choosing the wrong plan could leave investors on a low income in their old age. Investors should seek strong investment performance and flexibility, especially if their circumstances are likely to change. Tracker funds offer lower costs but do not protect the fund if the market as a whole drops, so are best avoided for people near retirement. Woolwich bank is offering personal pensions for the first time and is focusing on the no-frills market.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Taking a Sip
Article Abstract:
The market for self-invested personal pensions (Sipps) has grown in the United Kingdom. There are almost 50 providers of these plans which were created in 1989 by the Chancellor of that time, Nigel Lawson. They offer a great deal of flexibility, which is needed with income drawdown plans, and the introduction of income drawdown in 1995 led to a boost for Sipps. There are three main Sipps providers: stockbrokers, small independents, and large life insurers.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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