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ABI backs save more tomorrow

The Government is being urged to encourage development of pension schemes which automatically increase future employee contributions above the automatic enrolment minimum.

Standard Life has advocated “save more tomorrow” schemes as an extension to auto-enrolment. A person commits to putting more money into their pension as their wages increase.

In a panel debate at the ABI pensions conference, ABI assistant director of life and savings Yvonne Braun said: “Auto-enrolment does not address how to get people to save above the minimum. There is a risk people will be lulled into a false sense of security and will think their retirement is sorted. Save more tomorrow could benefit millions. We are very keen to take this forward with the Government.”

FSA pensions and investment manager Milton Cartwright said paid-for advice will have a limited role in auto-enrolment for lower earners.


Govt set to waterdown shareholder pay powers

The Government is expected to water down plans to boost shareholder power over executive pay by giving them a binding vote once every three years instead of annually as originally proposed, according to reports. In March, the Department for Business Innovation and Skills published a consultation aimed at giving shareholders an annual binding vote on […]

MPs call for no-fault dismissal to be scrapped

Over 60 MPs have signed a motion calling on the Government to drop controversial plans to introduce no-fault dismissals for small firms. In November, the Government launched a consultation on whether employers with fewer than 10 staff should be able to dismiss staff without an explanation as part of a wider package of measures aimed […]

O’Donnell wants levy for Treasury work

Former Cabinet Secretary Lord Gus O’Donnell says the Treasury should consider levying financial services firms to fund its work in the financial sector. Giving his first speech as a peer during this week’s Lords debate on the Financial Services Bill, O’Donnell said the Treasury is in danger of being “swamped” by its workload. He suggested […]

Leeds offers two fixed BTL deals

Leeds Building Society has launched two five-year fixed-rate buy-to-let deals, including one with a £199 fee. Both deals are available up to 70 per cent loan to value and allow 10 per cent capital repayments each year without penalty. One of the products is available at 4.99 per cent with a booking fee of £199 […]


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