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Compelling debate on compulsion

The inevitability of the Government making stakeholder pensions compulsory for employers was high on the agenda of the Question Time session at last week&#39s LIA convention.

LIA chief executive Jeff Travis, Aifa director general Paul Smee, LIA public affairs director John Ellis, FSA investment policy manger Brenda Gibson and Zurich Financial Services director of government and public affairs Karl Snowden debated the timetable for compulsion.

Questioned on whether stakeholder will work, Travis opened the debate by saying the Government is intent on making stakeholder succeed and this may mean compulsion.

Snowden went on to say that compulsion will definitely be debated during the middle of the next Parliament. But Zurich, he says, will never come out in favour of compulsion.

Ellis says the Government would be entering a political minefield to put compulsion on stakeholder as it would be seen as another tax burden.

Gibson says the FSA has no line on compulsion. Snowden said: “Compulsion on individual scheme members is unlikely, the debate will focus on the employers.”

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