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Brown hits back at Tories plan to reinstate earnings link for pensions

Chancellor Gordon Brown has hit back at the Conservative Party&#39s proposal to re-establish the link between increases in state pensions and rises in earnings.

In his pre-budget report to the House of Commons Brown said the Tory policy would raise a deficit on public finances of 3 per cent a year and would undermine the UK&#39s fiscal stability.

Brown said: “The figure of 5 per cent of GDP for the cost of state pensions means the UK&#39s finances will remain stable going forward. To reinstate the earnings link for pensions would raise deficits of 3 per cent a year.”


This is why the public is cynical about the industry

Why are the public so cynical about our industry? These examples illustrate the point. I was recently approached by a 60-year-old single man who lives in rented accommodation. He has been unemployed since being made redundant four years ago. He wanted to take a loan from his pension as he is in dire financial straits. […]

Prudential bond wraps up for Christmas

PRUDENTIAL FLEXIBLE INVESTMENT PLAN Type: Unit-linked portfolio bond Aim: Growth and income by investing in choice of five Prudential bonds Minimum-maximum ages: 18-89 Minimum investment: Lump sum £10,000 Allocation rates: Initial charge option &#45 £10,000-£19,999 &#45 102%, £20,000-£49.999 &#45 102.5%, £50,000- £74,999 &#45 103.5 £75,000 and above £103.75% No initial charge option – £10,000-£19,999 &#45 […]

Bedford may be part of fallout as Sesame revamps

Sesame is axing two directors and is believed to be losing sales director Andrew Bed-ford in a shake-up of its senior management structure. The reshuffle sees operations director Kevin Budge and chief technology officer Doug Morris leave the meganetwork in a root and branch restructure. Further redundancies and job restructures for less senior staff will […]

New Credit Suisse move to sell PPML

Credit Suisse is making a fresh attempt to sell subsidiary Winterthur Life&#39s Sipp administrator PPML. Winterthur put PPML up for sale in May 2001 following a review of its operations but took it off the market two months later, saying none of the offers had made the grade, citing concerns over continued service as the […]

Planning now for the residence nil-rate band

Graeme Robb, senior technical manager at Prudential, writes about the residence nil-rate band and the advice opportunities it presents for you when tax year-end planning with your clients. On our Planning Matters hub, we considered a widow, Margaret, and a married couple, John and Anne, for whom the residence nil-rate band (RNRB) is influencing planning […]


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