Resolution Share Discussion Threads

[strutt12] 28/3/2014 10:46

Are they not paying 14.09p next week?????

[skinny] 28/3/2014 10:28

A bit crude but :-

[a0148009] 28/3/2014 09:45

There is no doubt that life and pension insurers have been ripping off policy holders right from the beginning of the industry, they have mellowed a bit but clearly not enough.It does beg the question why the regulators have not got a grip on this a long time ago - too many vested interests I would suggest.

AO

[skinny] 28/3/2014 09:28

I use the term loosely :-)

He was somewhat surprised when I told him it was very easy to do and that I wouldn't be using his 'services'.

[a0148009] 28/3/2014 09:13

Skinny - some friend!

AO

[a0148009] 28/3/2014 09:12

They may have levied exit charges on those wishing to purchase annuities where they could buy a better deal elsewhere.

As you see from my personal example above they wanted to charge to transfer into
an internal scheme.

AO

[scburbs] 28/3/2014 08:58

So no exit charges then? Sounds ok to me as the fee was optional (you could stay where you were (in product terms) or move to another provider without cost).

[skinny] 28/3/2014 08:54

I had an IFA - a friend as it happens, who wanted to charge me a similar amount - so it is/was pretty common practice.

I also transferred to HL.

[a0148009] 28/3/2014 08:45

I had one of my pensions with Axa who consolidated all their pensions into Friends they wanted to charge me £500 to transfer from Income Drawdown into a Flexible Income Drawndown so I transferred and consolidated it with one with HL at the unit bid price free of charges from Friends.

AO

[scburbs] 28/3/2014 08:31

Hopefully the fact that the RSL closed book is in a separate division will mean that it is run sufficiently independently from the open book. This is quite likely as I think they have acquired the closed books rather than written them and then closed them.

However, RSL are clearly in scope if the closed book is not run completely independently (and I think they haven't always been clearly split at least in reporting terms?).

[a0148009] 28/3/2014 08:19

To be frank not before time should have done this decades ago.

AO

[skinny] 28/3/2014 08:12

The City regulator is to investigate about 30 million insurance company policies over concerns that customers are subject to "unfair" conditions.

The investigation will include pensions, endowments, investment bonds and life insurance policies sold in the UK between the 1970s and 2000.

The Financial Conduct Authority (FCA) will look into policies which penalise savers who want to switch providers.

The FCA told the Daily Telegraph it might "intervene on exit charges".

more....

[scburbs] 28/3/2014 08:12

Workplace pension fee cap at 0.75% + promise for further cuts, not sure why PHNX are hit though (other than being in the sector!)

[trader2] 28/3/2014 08:12

But... All the Insurers are taking a hit.

[philo124] 28/3/2014 08:11

See Aviva, PHNX.

[a0148009] 28/3/2014 08:08

looks like a sell recommendation from some analyst.

AO

[cwa1] 27/3/2014 16:33

Definitely not loose change that purchase!

[aleman] 27/3/2014 16:27

£500K+ director buy.

[toffeman1] 27/3/2014 11:27

They have a great Life & Critical Illness contract, shed loads being sold this and income protection contract are market leaders. Old Axa, and BUPA contracts now integrated. Upcoming change of name to Friends Life might help as well ! All good, just back in at these prices for the aforementioned tasty divi coming next week ! Director buys show confidence.

[maddox] 25/3/2014 23:54

Hi guys,

Bought in back in May 2013 - so pretty much back to the level I got in at. At the risk of catching the falling knife - a good opportunity to top-up - ahead of the rather tasty divy.

Whilst the annuities announcement was undoubtedly unwelcome I particularly like the para in the 20th March RNS -

"As highlighted at our Strategy Update this week, we have 1 in 9 retiring DC pension customers, and we are already working on expanding our transition to retirement propositions, including guidance and a broader range of products and services for our customers as they approach retirement. We remain well positioned for this key, fast growing market segment."

Indeed....there is a lot more of this story to play out - law of unintended consequences and all that.

Cheers Maddox

[rcturner2] 25/3/2014 16:35

I bought in yesterday. The dividend is over 6%. I don't believe the impact of the pension changes will be that big for Resolution.