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Axe hanging over seller&#39s packs as the general election looms

Seller&#39s pack legislation could be dropped if it fails to navigate its way through fierce opposition from the House of Lords and Tory MPs before the general election.

The legislation had its second reading in the Lords last week, where it came under fire from peers who slammed the pilot trial for the packs as “a useless waste of time and a complete disaster”.

Already behind schedule, the bill could run out of time as it is understood that Conservative MPs plan to oppose its fast return to the Commons where it would become law.

If the bill does not gain Royal Assent in the Commons before a general election it could disappear, with some political commentators believing the chances of it being revived are minimal even if Labour were to win a second term.

The bill is currently awaiting a slot in the Lords where it will go through the committee stage, a process expected to take weeks.

It then goes to the report stage before a third reading in the Lords, where any amendments made have to be debated in the Commons before the bill can finally become law.

Conservative peer Lord Caithness says: “The Government has realised what a mess seller&#39s packs are and have had second thoughts about them. It is now a distinct possibility that the bill will not go through. It does not have the time.”

A Government spokeswoman says: “As far as we are concerned the bill is going through the Houses as due process requires.”



Aifa fears over ombudsman fundingAifa has expressed concern about the proposed funding structure for the Financial Ombudsman Service in its response to the FSA&#39s consultative paper. Aifa says only 15 per cent of complaints handled by the service derive from IFAs and most have never faced direct costs for the FOS and it must demonstrate […]

On the crest of a wave over stakeholder

There has never been any doubt in our minds that stakeholder pensions should be regarded as an opportunity and not a threat.Our firm has been established for 15 years, concentrating mainly on pensions and investment advice. A significant proportion of our clients are small to medium-sized companies for which stakeholder is a very relevant issue.This […]


Keydata is ruffling a few feathers with its latest Isa survey but retail sales director Mark Owen says that is not what the company is all about. According to Owen, Keydata is there to make life easier for the IFA. Owen&#39s enthusiasm for the service knows no bounds. Although he admits he can be over-enthusiastic […]

Small firms set to boost sales of stakeholder

Small employers with fewer than five staff could give stakeholder a boost by offering their employees a pension even though they are exempt from doing so, claims Legal & General. According to L&G&#39s research, just 54 per cent of employers with between one and four staff were aware of stakeholder but it says, of these, […]

Naming a reward programme

Six tips to get your reward programme name right

by Debra Corey, group reward director  Choosing a name isn’t easy. Whether it’s for your new puppy, a bundle of joy or your reward programme, a name determines a first impression – and often a lasting memory. When it comes to your reward programme, the name will determine how your employees feel about it even before […]


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