BRITISH INSURERS are thought to be joining Amicus, the UK's largest private-sector union, in a united attack against the government's proposed 1% charge cap on a range of low-cost savings products.
According to The Times, the united group will launch a campaign this summer in opposition to the government’s plans to price cap products such as stakeholder pensions. Although talks are supposed to be going on in secret, two firms yesterday admitted to The Times that they are in talks with the union about the campaign. A spokesman for Norwich Union said: "We cannot confirm Amicus’ approach, but we can say that we would be supportive of the campaign. We need a cap that gives a fair return. The products have got to be attractive to buy and to sell." A LOWER REVENUE stream due to ...
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