When the amount of PEPS
reaches up to 25 pph, the LOI value was increased from 17 to 27%, and the UL-94 result was improved from no rating to V-0 rating.
Apart from being able to spread risks on a global basis, it will be permissible to transfer part of a Pep
to another Pep
manager, and not just a whole Pep
, as applies at present.
For example, Royal & Sun Alliance are giving four per cent discounts across their unit trust PEP
You can narrow the field of choice by consulting Chase de Vere's PEP
Guide (see examples below) and twice-yearly updates including performance charts, which cost pounds 12.
You can put up to pounds 6000 in a general PEP
in each tax year from April to April - and up to pounds 3000 in a single company PEP
Yet a recent survey conducted by the leading financial magazine, Money Management, surprisingly revealed that over 50 per cent of Pep
holders did not realise that one plan can be swapped for another.
Unlike building society accounts PEPs
carry risk, but there are plenty of funds to suit every type of investor.
So you can let your PEP
savings grow as close as you can to whatever the ISA limit becomes by April 1999 and you won't have to worry about paying tax because dividends will be free of income tax and growth free of capital gains tax both as a PEP
and when transferred into the new ISA.
The minimum investment in the Celtic PEP
is pounds 100 a month, or pounds 1000 if investing a lump sum.
M&G, CGU and Aberdeen Prolific are believed to be among the companies enjoying the greatest success with their corporate bond Peps
If you don't put your shares in a PEP
you'll face a capital gains tax bill if the profit you make - that's the entire value of the shares when sold - is more than pounds 6,500 in one tax year.
The firm have unveiled a low-cost PEP
designed to make this method of saving more accessible to ordinary savers.