Virgin gets personal to PEP up pension plans

Article Abstract:

The decision by Virgin Direct to offer 2,000 investors in its personal equity plan (PEP) the opportunity to transfer their holdings into a Virgin Personal Pension without charge has attracted considerable controversy. The company has not made it clear that there are significant differences between PEPs and personal pensions as methods of saving, and has instead focused on the tax relief associated with personal pensions. The decision to move PEP capital into a pension contract must be based on wider considerations than tax relief.

Commercial Banks, Commercial Banking, Consumer Savings, Savings accounts, Virgin Direct Personal Financial Service Ltd.

---

A no-shareholder pension? The benefits are mutual

Article Abstract:

There can be considerable advantages associated with purchasing a personal pension from a mutual firm. These firms have no shareholders to whom they must pay dividends, and this means that in theory they should make higher payments to policyholders than shareholder-owned proprietary companies on the maturity of a pension policy. When choosing a personal pension, it is important to compare the maturity values of different companies, take out a waiver of premium cover and select a plan that meets your individual requirements.

---

The friendly way to cut tax

Article Abstract:

Many of the UK's friendly societies have been in existence for a very long time, but the friendly society sector as a whole generally has a rather low profile. In fact, it is worth considering investing in a friendly society, as small investors can benefit from very tax-efficient savings and insurance policies. The role of friendly societies is likely to change with the introduction of the government's individual savings accounts (ISAs). Indeed, many friendly societies fear that investors may switch to ISAs instead.

Personal Financial Mgmt, Personal finance

Similar abstracts:

• Abstracts: Marketing to make computers friendly. Compaq buys its way to the top. Is your system critical, peripheral or in the grey area?
• Abstracts: Add some PEPs to future plans. Risks no longer worth taking. Stock-taking time for the Pep phenomenon
• Abstracts: Annan visit is last chance to settle. Embassies under siege as Chinese take to streets. Make or break day for peace
• Abstracts: Bracing saddles. Walk on the world side

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.