Labor government likens pension providers to alcoholics

Article Abstract:

The UK's Labor government will invoke its punitive powers under the Financial Services Act if pension providers involved in the pension mis-selling scandal between 1988 and 1993 fail to process claims promptly. Economic secretary to the treasury Helen Liddell has warned that companies which fail to compensate their victims may see their sales divisions shut down and their directors suspended. Liddell also threatened companies with exclusion from the provision of the planned stakeholder pensions and Individual Savings Accounts, which would heavily affect their bottom lines.

United Kingdom, Laws, regulations and rules, Economic policy, Labour Party (United Kingdom)

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Opportunity awaits the prepared

Article Abstract:

Insurance companies face intense competition from mutual funds and banks in pursuing sales of retirement savings plans. Mutual funds have strong brands and good cost structures; banks are likely to expand their services. Insurers should consider revamping their compensation systems and forming alliances with banks. National concern about inadequate retirement savings may force changes in public policy and increase opportunities for insurers. Trends in 401(k) plans and other services are discussed.

Commercial Banks, Investment Offices, Investment Companies, Open-End Investment Funds, Trust, Fiduciary, and Custody Activities, Pension & Profit Sharing Services, Banking industry, Management, Services, Marketing, Pensions, Retirement planning, Mutual funds, Salary reduction savings plans, 401K plans, Corporate trust services

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Sales automation systems increase sales, productivity

Article Abstract:

Sales personnel and customer support representatives in Metropolitan Life Insurance Co's pensions department use the SPS sales automation system, supplied by Campbell, CA's Saratoga Systems. The system, whose benefits include flexibility and open architecture, runs through Microsoft Windows at five local area network sites. The SPS system and the pensions department's use of it are described.

Prepackaged software, Software Publishers, Business Software (Micro), Computer software industry, Software industry, Product information, Business management software, Suites (Software), Technology application, Metropolitan Life Insurance Co., Saratoga Systems Inc.

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