HM Treasury News Release
07/96                                        16 January 1996
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                  MISSELLING OF PERSONAL PENSIONS

The UK has many million private pension holders.

Treasury Minister, Angela Knight, said:

     "I take the important issue of  the  misselling  of  personal
     pensions  very  seriously.   Personal  pensions  should  be a
     reliable product to use in  saving  for  one's  old  age,  in
     suitable circumstances.

     "Lead  responsibility  for resolving this issue lies with the
     regulator.  Life offices are  now  conducting  their  review.
     This frees the way for financial advisors to hold reviews.

     "A  debate about words here and there is not important.  What
     is important is to see this issue  resolved  fairly.    SIB's
     report today is another step towards that goal."



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