Teletext Recovery - 30/08/2003

P541 Teletext 541 Aug30 21:12:41       ——————————————————————————————  WITH-PROFITS PLANS 'ON THE SKIDS' How many of us still have confidence in with-profits investments? Very few it seems, as bad publicity, bonus cuts and exit penalties spoil their reputation. People respond negatively even at the phrase 'with-profits" now, say more than half of independent financial advisers, in a report by Datamonitor. But the analyst says the media-led attitude is unfair and policies have out-performed other share investments. ——————————————————————————————————1/8—— by Graham Buck IS LOVE IN THE AIR FOR YOU? p148 Annuities Tax Credit&debt West End

P541 Teletext 541 Aug30 21:16:11       ——————————————————————————————  WITH-PROFITS PLANS 'ON THE SKIDS' With-profits are inflexible and have to be viewed as a long-term investment, admits market analyst Datamonitor. But it argues that they also serve the more conservative investor well, when there is a desire for security, rather than wheeling and dealing. As a long-term product their "smoothing mechanism" has given real protection against periods when the stock market moves lower, adds Datamonitor. ——————————————————————————————————2/8—— Teletext3000s have moved to p521-526 For a new Extra packed Current Account from Halifax see ITV1 p354 Annuities Tax Credit&debt West End

P541 Teletext 541 Aug30 21:37:02       ——————————————————————————————  WITH-PROFITS PLANS 'ON THE SKIDS' Despite their merits as a long-term saving product, Datamonitor says with- profits are now "in terminal decline". ■ New pensions with-profits premiums will fall steadily from just over £1bm last year to just over £700m by 2007, it predicts. ■ Distribution funds and managed funds are poised to fill the gap, while capital guaranteed products will also play a bigger role. ——————————————————————————————————3/8—— Are you a Premium Bond winner? 539 Get Up Close & Personal - ITV1 p390 Annuities Tax Credit&debt West End

P541 Teletext 541 Aug30 21:22:38       ——————————————————————————————  WITH-PROFITS PLANS 'ON THE SKIDS' With-profits investments have been judged too harshly, claims Datamonitor. ■ Media reports exaggerate both the misery of with-profits policyholders and their losses, it believes. ■ Bonus rate cuts should be set against huge losses from other investments. ■ The mortgage endowment shortfall fiasco has also been hyped-up and falsely blamed on with-profits. ——————————————————————————————————4/8—— Teletext3000s have moved to p521-526 GET TEXTING WITH GIRLS p658 Annuities Tax Credit&debt West End

P541 Teletext 541 Aug30 21:10:24       ——————————————————————————————  WITH-PROFITS PLANS 'ON THE SKIDS' With-profits investments suffer as they fail the regulators' obsession that financial products must be easily understood, suggests Datamonitor. Ron Sandler and others have shown "a tenacious hatred of the with profits proposition because it does not tally with the buzzword of transparency," comments analyst Nicholas Stephens. Yet few people fully understand the new products set to rival with-profits. ——————————————————————————————————5/8—— "Best buy" mortgages 536 IS LOVE IN THE AIR FOR YOU? p148 Annuities Tax Credit&debt West End

P541 Teletext 541 Aug30 21:11:27       ——————————————————————————————  WITH-PROFITS PLANS 'ON THE SKIDS' Some life assurers have responded with new "Sandler-friendly" with-profits products offering greater transparency, says Paul Ilott of Bates Associates. But he thinks the underlying strength of the insurer and the asset make-up of the fund is just as, or more important. "With shares in decline in the past three years, some have allocated more to fixed-interest funds. If the stock market revives, they may underperform." ——————————————————————————————————6/8—— Teletext3000s have moved to p521-526 NOW IT'S EVEN EASIER TO FIND LOVE: TELETEXT DATING ITV1 p390 Annuities Tax Credit&debt West End

P541 Teletext 541 Aug30 21:11:51       ——————————————————————————————  WITH-PROFITS PLANS 'ON THE SKIDS' New financial products set to woo investors away from with-profits are not necessarily more transparent, warns Jain Nesmith of Scottish Widows. "There's a huge demand for greater transparency, but much depends on what exactly is meant by the word. "The new products can be explained in greater detail than with-profits, but not always in a manner that the layman - or even advisers - can understand." ——————————————————————————————————7/8—— "Best buy" credit cards 546 Seeking Soulmate? see ITV1 p390 Annuities Tax Credit&debt West End

P541 Teletext 541 Aug30 21:12:13       ——————————————————————————————  WITH-PROFITS PLANS 'ON THE SKIDS' With-profits investors got a safety-net against the stock market's plunge since 2000, Paul Ilott of Bates Associates says but they are still out of favour. Jain Nesmith of Scottish Widows agrees that with-profits will only survive in a changed form. "Our experience is that 10 years ago all our pensions were with-profits. Today, that figure has already fallen to under 50%," he reports. ——————————————————————————————————8/8—— Teletext3000s have moved to p521-526 BUSINESS BRIEFING ON OUR WEBSITE www.teletext.co.uk/finance Annuities Tax Credit&debt West End

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