Standard Life

Standard Life is to combine its life and pensions, healthcare and banking businesses into a new UK Retail Division to be headed up by Trevor Matthews, currently the chief executive of UK life and pensions.

Xafinity Paymaster believes it is possible to administer personal accounts at a cost of around £10 per saver, despite many in the pensions industry claiming such low charges are impossible.

TREASURY OFFICIALS are engaged in urgent talks with tax experts ahead of tomorrow's Budget to tighten new regulations aimed at ending tax avoidance schemes used by up to 250,000 contract employees, says the Daily Telegraph.

Considerable doubts linger over whether the Treasury will allow pension term assurance with tax relief to exist after the Budget next week, but advisers and providers are nonetheless hopeful some form of the product will remain.

The Secretary of State for Work and Pensions John Hutton has confirmed he has reconsidered the proposals to cap contributions in personal accounts at £5,000.

Proposals put forward in a consultation paper on the rolling deregulatory review of defined benefit pensions could see pensioners income fall by around 30% in the next 10 years, warns Standard Life.

Justin Urquhart Stewart and his firm Seven Investment Management scooped several of the key intermediary-related awards at the inaugural Adnitor Platform Awards, alongside wins for Standard Life, FundsNetwork and Transact.

Increases in interest rates over the past month have reduced people's confidence in property as an investment, claims Standard Life.

Standard Life has revealed the results of a Board reshuffle including the appointment of a replacement for Sir Brian Stewart who will step down as chairman of the company at the end of May.

STANDARD LIFE has announced its deputy chairman, Gerry Grimstone, will succeed Sir Brian Stewart to become chairman when he steps down in May, says the Times.