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CBI calls for single auto-enrolment staging date for job agencies

The Confederation of British Industry wants the Government to set a single staging date for all recruitment agencies to comply with automatic enrolment due to concerns that small firms could gain a competitive advantage from a later staging date.

Under the DWP’s auto-enrolment staging plans, the UK’s biggest employers will begin auto-enrolling their staff into a pension scheme from October. Smaller employers will have to comply between October 2012 and February 2018.

Speaking at TheCityUK’s pension conference in London last week, CBI head of labour market policy Jim Bligh said because recruitment agencies compete solely on labour cost, smaller companies will gain a competitive advantage over bigger companies because big firms will have to pay pension contributions earlier than small companies.

Bligh said: “Recruitment agencies and employment businesses are unique in that they compete with each other solely on the basis of labour cost.

“It is unfair that large employment businesses come into auto-enrolment this year or next year whereas the small ones, with whom they are competing very directly all over the country, will come in over a longer period of time.

“It would seem sensible for that sector, and that sector alone, to have a single auto-enrolment date. I do not care when it is as long as they all come in at the same time.”



Sants says get tougher on senior staff

Outgoing FSA chief executive Hector Sants has used his last speech at the regulator to call for greater individual accountability at financial services firms and for senior management to be hit with tougher penalties. Speaking this week at Merchant Taylors’ Hall in London, Sants said firms should be encouraged to place more emphasis on treating […]


FSCS is taking action against Keydata IFAs

The Financial Services Compensation Scheme has started legal proceedings against firms which recommended Keydata Lifemark products. A letter sent on behalf of the FSCS by law firm Herbert Smith to 162 adviser firms says advisers failed to take reasonable steps to ensure Lifemark products were suitable for investors, failed to ensure investors understood the risks […]

Thames River and Skandia funds to take cover from Euro uncertainty

Thames River co-head of multi-manager Rob Burdett and Skandia head of multi-manager Ryan Hughes have cut exposure to Europe across their fund ranges. Burdett has moved further underweight across the firm’s five multi-manager funds by cutting exposure by between 2 and 2.5 per cent over the past six weeks, due to concerns about volatility as […]


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