2005 is already shaping up to be an interesting - read challenging - year for those wanting to save given the conflicting news about how best to save and what assets to hold.
Consider this: some days ago Standard Life announced its funds under management hit the £100bn mark. However, just today newspapers have carried news that the company’s chief executive Sandy Crombie is taking a pay cut of sorts – foregoing a bonus and cash incentive – because long-term savers are still suffering the effects of the stock market meltdown, which ended in March 2003. Competitor Axa meanwhile has just announced reductions in reversionary bonuses for its Equity & Law conventional life and pensions savers. The bonus rate is down to 1% for 2004 from 2% in 2003, although the m...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
