View more on these topics

Closing the savings gap is the top priority for government, says ABI

The Association of British Insurers yesterday announced that reducing Britain&#39s £27bn annual savings gap should be a top government priority.

Commenting on yesterday&#39s announcements on the Sandler suite of products, Mary Francis, director-general of the ABI, says: “This decision is a step in the right direction. The government has recognised that the 1% price cap on stakeholder pensions was hindering saving, not helping it.

“But the new price cap is certainly not generous, and the test of today&#39s announcements will be whether they lead to a real increase in the overall level of saving.”

Francis adds: “The savings industry backed Ron Sandler&#39s proposals for simpler savings products from the start. But we pointed out that a 1% charge is simply not enough to enable firms to make a viable return on sales to customers with relatively modest incomes.

“But more also needs to be done in other areas, for example through the government&#39s Informed Choice programme, to encourage additional savings and help everyone make sensible provision for their retirement.”


Kent Reliance appoints Rob Procter as deputy chief executive

Kent Reliance has announced the appointment of Rob Procter as deputy chief executive and a member of the main board. As head of lending, Kent Reliance says Procter has been instrumental in the comprehensive revision of the society&#39s lending policy and product range. He established Kent Reliance&#39s commercial lending and buy-to-let teams and is also […]

Comments spark speculation on Abbey takeover

A Call by Lloyds TSB for the government to relax banking merger rules has led to speculation in the City that the bank is set to resume its attempts to acquire rival Abbey. The speculation began after comments made by Lloyds TSB chairman Maarten van den Bergh at a banking conference last week. At the […]

My question about mortgage clubs remains unanswered

From Richard Griffiths John Malone&#39s letter (Mortgage Strategy June 7) rushes to reassure readers that Premier Mortgage Service will operate as normal despite a comment in my column (Mortgage Strategy May 24). But I only asked whether PMS will continue to deal with ARs wishing to place mortgages off-panel through a mortgage club for lenders […]

igroup appoints broker training specialist

igroup has announced the appointment of Helena Lee as broker training manager in the northern regional sales team. Lee will report to Brian West, head of broker sales. Helena was previously a processing team manager with a mortgage intermediary. In her new position, she will work closely with igroup&#39s supporting brokers to help improve their […]


News and expert analysis straight to your inbox

Sign up