Insurers 'load charges' on pension top-up schemes

Article Abstract:

Watson Wyatt, the UK pension fund consultancy, has urged trustees of company pension schemes to ensure they pick the best company to run a top-up scheme. According to a recent survey, some insurance companies charge up to 9% a year to run some schemes, which effectively wipes out the interest earned on the fund. Legal & General, Guardian and Norwich Union are said to charge the most to manage top-up schemes, whereas Clerical Medical or Equitable Life's charges were much less. The findings are likely to add to the controversy about the mis-selling of top-up schemes, known as additional voluntary contributions (AVCs), though Watson Wyatt also noted that employers' schemes cost less than personal top-up schemes, known as free standing AVCs.

Comment:

Urges trustees of company pension schemes to ensure they pick the best company to run a top-up scheme

Public affairs, Employee Benefits Management Svcs, Third Party Administration of Insurance and Pension Funds, Employee benefits management services, Watson Wyatt Worldwide

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5bn rail link from Liverpool to Channel Tunnel proposed

Article Abstract:

Central Railway, the UK based rail company, has announced its plans to build a 320 mile rail link between the Channel Tunnel and Liverpool. The rail like is expected to carry 36mn tonnes of traffic and to capture up to 40% of the market. It is also hoped that the link will take up to 2mn lorries off the roads. Plans for the GB 5bn rail freight link are to be submitted to Parliament during the summer of 1999, and the plans are likely to be approved as the Government is keen to move more freight onto the UK's rail network and away from the roads. It is hoped that construction will begin in 2002 and last for up to four years.

Comment:

Railway firm plans to build a 320 mile rail link between the Channel Tunnel and Liverpool

Facilities & equipment, Railroads, Rail Transportation, Central Railway

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Railtrack demands charges deal to finish Tunnel link

Article Abstract:

Railtrack, has announce that it is unlikely to be able to build the second phase of the Channel Tunnel Rail Link. Its ability to continue with the rail link depends on the outcome of the regulatory review of its rail access charges. Railtrack has agreed to build and own the first phase of the link to Fawkham Junction in Kent for some GB 1.5bn. However its plans to continue with the second phase into London will cost an additional GB 1.8bn.

Comment:

Announces that it is unlikely to be able to build the second phase of the Channel Tunnel Rail Link

All Other Heavy Construction, Contracts & orders received, Railroads Construction, Network Rail Infrastructure Ltd., Railroad construction

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