View more on these topics

Blair years bring 19 million words of pension rules

The Government added 19 million more words of pension legislation and guidance under the premiership of Tony Blair.

In 1997, when Labour came into power, there was a total of 9,888 pages of pension information but by the time Blair stepped down in June, this figure had soared to 46,394meaning an additional 38,361 new pages have been produced during his 10-year tenure.

Pensions information database provider Pendragon says paper chase is down to the unprecedented increase in the number of acts, statutory instruments, regulatory documents, consultation papers and Government reports.

Managing director Simon Freeman says “The indications are certainly that the Brown Government is likely to generate a similarly prodigious amount of pension information for the industry to digest.”

Hargreaves Lansdown head of pensions research Tom McPhail says: “It is good to see the Government putting so much effort into pension simplification.”

Scottish Life head of communications Alasdair Buchanan says: “I don’t think this will come as much of a surprise to those of us exposed to this glut of pension reform and counter-reform.”


Investec increases Euro savings rate

Investec Bank has announced an increase on the interest rate of its Euro Investec Horizon account to 4.25 per cent, despite the European Central Bank’s decision yesterday to maintain its rate at 4 per cent.

Stanlib on road to Africa

Stanlib, the asset management arm of Standard Bank of South Africa is launching two African equity funds for the high-net-worth end of the retail market.

IMA urges Gov to increase savings limits and boost competitiveness of LSE

The Investment Management Association is calling for measures to enhance pensions and savings and to optimise the competitiveness of the UK funds industry in its pre-budget representations.IMA says the Government should increase the limits for ISAs and CTFs, at least in line with inflation. The association says personal saving needs to be encouraged not penalised […]

Class struggle

A couple of weeks ago, I received an email from Tom McPhail, head of pensions research at Hargreaves Lansdown, drawing my attention to an article in Money Marketing in which he was reported as “hitting back” at commentators – myself included – who have expressed fears that consumers could end up misbuying Sipps on an execution-only basis.


News and expert analysis straight to your inbox

Sign up


    Leave a comment