ABI

The Association of British Insurers has "caved in" and agreed with proposals presented by the Pensions Commission, say intermediaires, in presenting its 'Partnership Pensions' alternative to the National Pensions Savings Scheme (NPSS).

The Savings and Retirement Account (SaRA) best addresses retirement savings needs by providing transparency, flexibility, portability, choice and simplicity, according to the Pep & Isa Managers' Association (Pima).

The Investment Management Association (IMA) are supporting proposals for a National Pensions Savings Scheme (NPSS), instead of submitting an alternative model.

"Partnership Pensions" is the Association of British Insurers' (ABI) alternative to the National Pension Savings Scheme (NPSS) which they are submitting to the Government today.

The Association of British Insurers (ABI) has admitted the costs of the National Pension Savings Scheme (NPSS) or any alternative can only be reduced by removing the need for large upfront commissions paid to advisers.

An industry alternative to the National Pensions Saving Scheme (NPSS) will feature "a radical reduction in cost and the role of advice", Lord Turner has stated.

As the Association of British Insurers (ABI) prepares to submit an industry alternative to the National Pension Savings Scheme (NPSS) to the government by the end of next week, it seems not everyone supports the project wholeheartedly.

The Association of British Insurers will be presenting its alternative to the National Pension Savings Scheme to the government in the next few weeks although many are still unsure of the ultimate outcome of the exercise.

Lawlords are considering a review of insurance contract law to assess whether non-disclosure rules should be tightened in favour of the policyholder and whether the legal onus should be on insurers to "ask questions".

Thousands of intermediaries and hundreds of insurers may have to rewrite their Terms of Business Agreements (TOBAs) because of a lack of clarity from the Financial Services Authority (FSA) over client money rules, a City law firm has warned.