Time to abolish commissions
Article Abstract:
The United Kingdom plans a reform of pensions and is to publish a white paper on this issue. There is widespread recognition of the need for private pension schemes for people not covered by company schemes, so there is no need to pay commission to salesmen. Commission was needed when private pensions were first introduced, but this is less true now there is greater public awareness. The state is better able to market pension schemes than the private sector, and a public education campaign can be used. There is also a need for better treatment for people leaving company schemes early.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Hidden pension pitfalls for the unwary
Article Abstract:
Final salary pension schemes offered by United Kingdom companies allow for a tax-free lump sum to be taken on retirement. This sum reduces the amount of pension available The amount forefited is calculated by pension scheme actuaries. Inflation and interest rates have dropped, so annuities have become expensive. This means that lump sums can buy less of an annuity than previously, but actuaries are often not taking this into account when they calculate the amount forfeited.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Change continues for Charity Commission. Funding falls flat. Broadening the board
- Abstracts: Halifax Pep confusion. Halifax on its way. Halifax flotation: free shares pitfall
- Abstracts: Why the Footsie should mind the gap. Pre-millennial tension for the Footsie. Earnings risks
- Abstracts: Leih likes to team with media sales reps for best results. Analytical Valan shoots for the stars
- Abstracts: The promise and peril of Greater China. The iron-fisted way. A change of image