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Auto-enrolment threshold rises

Employees earning more than the personal income tax allowance of £7,475 will be automatically enrolled into a pension scheme from 2012.

The threshold is more than £2,000 higher than Labour’s proposal of £5,035 a year. An optional waiting period of three months has been introduced, during which employees can voluntarily opt in. Self-certification for employers operating money-purchase schemes has been simplified, alongside further deregulatory measures designed to reduce the burden on employers. Legal & General pensions strategy director Adrian Boulding, who was part of the independent review team, says: “We are knocking the rough edges off the old proposals.”

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Bupa loss has critical consequences

Within a threemonth period, there has been massive change in the protection industry. We have lost Royal Liver, we are going to lose Bupa, we are going to lose Axa, we are going to lose Friends Provident and gain Friends Life and Skandia has pulled out of the critical-illness market. In that short space of […]

On the contrary

With so much doom and gloom around, I thoroughly enjoyed my recent meeting with Clive Beagles, the fund manager of J O Hambro equity income fund. He is far more upbeat than most and has been for quite some time. And I have to say he has generally been right too. What Clive Beagles is […]

Against the grain

The axing of the Electica fund from the Wealth 150 list has put the focus on agricultural funds. John Kenchington reports


Select committee chair wants high-rate relief ditched

The chair of the work and pensions select committee has called for higher-rate pension tax relief to be scrapped. In an interview with Money Marketing, Labour MP Anne Begg says the move would be preferable to the Government’s plan to cut the annual pension allowance from £255,000 to £50,000 while keeping tax relief at the […]


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