UK: PIA HOLDS CONSULTATION ON IPA RULES
Article Abstract:
The UK Personal Investment Authority (PIA) is holding consultations on the rules for individual pensions accounts (IPAs), which will be launched on 6 April 2001. Under the consultation, information for investors will be laid out, and pension providers who are to administer the schemes will answer questions. The final rules for IPAs, for which there is little enthusiasm from life assurers, are not yet formalised. According to Scottish Widows' senior technical manager, Ian Naismith, stakeholder pensions, also due for launch on 6 April 2001, are a more attractive proposition for providers than IPAs.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: CALL FOR GOVERNMENT TO MODERNISE MUTUALS QUICKLY
Article Abstract:
A report by the Centre for Business Research at Cambridge University says that the UK Government must act promptly to modernise mutuals because inaction could result in many investors who need the choice of low-risk, long-term savings pension plans or life assurance, losing out. Solutions in other countries include mutuals banding together to share certain costs and risks while still remaining autonomous; having committees to promote direction sharing of information between management and members; or having electoral college systems rewarding active member participation.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: FSA CONSIDERS COMPULSORY ANNUITY DISCLOSURE
Article Abstract:
The FSA is considering making it compulsory for providers to make retiring consumers aware of open-market annuity options. It has yet to be decided whether the issue will be handled as a regulatory or mandatory update.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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