View more on these topics

Bee petitions Government to make NPSS guarantee or scrap auto-enrolment

Scottish Life has launched a petition calling on the Government to drop its proposal for auto-enrolment into Personal Accounts unless it guarantees that every pound saved in the scheme will make savers at least one pound better off than non-savers.

The e-petition can be found on the 10 Downing Street website at

Scottish Life head of pensions strategy Steve Bee says many people on low incomes will have 40 per cent of their savings wiped out through loss of entitlement to means testing benefits. He fears a major misselling scandal as millions of people are auto-enrolled into Personal Accounts.

The Government has rejected Bee’s arguments, claiming that an improved basic state pension will mean only 30 per cent of people will be entitled to means testing benefits on retirement by 2050. But this conflicts with PPI forecasts of 50 per cent.

Many critics, including Bee, argue both forecasts are worryingly high.

Bee says: “That is essentially a 40 per cent tax for saving. Given that the proposals in the Bill mean it is likely that one in three people reaching retirement in the UK will be in receipt of means testing support it is a problem that may affect millions of people.”


Bee sets up online pension petition

Scottish Life pension guru Steve Bee has launched a petition on Number 10 Downing Street’s website calling on the Government to drop auto-enrolment into personal accounts unless it guarantees that every pound saved in the scheme will make savers at least 1better off than non-savers. The e-petition can be found on the 10 Downing Street […]

Risk reassessment

We have become uncomfortable with risk but an element of it may be essential

Bright Grey to use Medicals Direct Trackberry system

Bright Grey has taken up Medicals Direct’s new Trackberry service, which is designed to speed up the underwriting process for those with more complex medical histories. Medical reports are completed using a digital pen, which scans the report as it is written. They are then sent straight to Medicals Direct via Bluetooth and Blackberry, which […]

Artemis unveils offshore fund trio

Artemis has brought out offshore versions of its pan-European, global equity and UK equity funds.The Luxemburg-domiciled funds are based on the group’s onshore range. They comprise a version of its pan-European equity fund managed by Philip Wolstencroft, its global equity fund managed by Peter Saacke and the Artemis UK equity fund run by Jacob de […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm