The price of choice

Article Abstract:

The British pensions industry is undergoing structural changes and this is reflected in the arrival of Principal, a US firm. Demographic change and a move away from defined benefits schemes are among changes affecting the industry.

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Dial a pension

Article Abstract:

UK investors can buy a pension by phone with Virgin Direct launching a phone-based service, joining Save and Prosper and Colonial, which have also launched such services. This new services has given rise to a debate as to how much advice is needed by people buying pensions. All three phone services will offer advice, though Marks and Spencer uses an execution-only service. Providers of execution-only services argue that investors are often offered poor advice which has increased charges.

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Spoilt for choice

Article Abstract:

UK investors have a wide range of pension plans to choose from, and they should assess both performance and charges. Past performance is one way of assessing future performance, but is not infallible. Older investors will seek greater security, while younger investors can focus on growth. Plans should be flexible, and some plans involve high initial charges which affects the amount available if they are stopped early. Independent advisers can help in selecting a suitable plan.

Personal finance

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