Autif has asked to be a part of the ABI's quality mark project on accrediting brands. The ABI's Savi...
Autif has asked to be a part of the ABI's quality mark project on accrediting brands.
The ABI's Savings and Long Term Risk (SALTR) project is aimed at raising standards in the life industry although it has stated that it wishes the standards to be used on investments funds.
Autif has stated that since it is already regulated by the FSA it has no need for self-regulated standards.
Even so, the unit trust association has since asked to play a bigger part in the SALTR committee and is looking to have one of its representatives on the SALTR committee on the standards which have to be met for a company to get the quality mark.
Alan Ainsworth, chairman of Autif, said: "There are some areas of the standards, such as customer service, that may be appropriate to the fund industry. We are going to try and work together with the ABI."
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
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