tax exempt savings?

dunstonh

Mutual_Bob wrote: »

see Money Management Nov 2008 for best result on regular saving with Insurance companies.

Seeing as many of the insurers have access to whole of market funds or at least the main funds, it doesnt really matter.

If you buy invesco perpetual high income fund from Norwich Union, then are you not going to get that much difference if you buy invesco perpetual high income fund from Legal & General.

RayWolfe

Just to add to the great education that is going on here:
New Labour did, in fact, take £5 billion out of pension funds, but not as is being suggested here.
What they did was to remove the 10% tax reclaimable on dividend - the final 10%, that is - the Tories having taken the first 10% some years earlier when it was 20%. This was part of the long term strategy started by the Conservatives to remove Advanced Corporation Tax from companies paying the dividends. It was thought that UK corporations were paying dividends that were too high compared to our American and Continental rivals, instead of reinvesting back into the companies.
So, the effect was to remove the tax benefit from the dividend receivers and return that SAME money to corporations by abolishing Advanced Corporation Tax.
No net receipt by government. No net loss to the shareholders of the companies ... pension funds and others.
The measure was welcomed by the Tories - it was their policy, after all- and greatly welcomed by business and industry who were relived from paying ACT.
Isn't reality boring, and not a bit like the Daily Mail would have us believe!