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Compulsion on the agenda

Peter Jordan&#39s suggestion that the removal of compulsory annuities would solve the problem of poor stakeholder take-up (Money Marketing, November 8) was made redundant by pension minister Ian McCartney&#39s claim that moderate to high earners were always stakeholder&#39s target market (same MM issue).

Indeed, Mr Jordan&#39s article appears to confirm what many IFAs already knew – that many companies showed a remarkable lack of courage in opposing or, at the very least, publicly identifying stakeholder as an attack on the pension providers rather than an attempt to solve the long-term retirement needs of the populace.

Compulsion is on the Treasury&#39s agenda. The most disturbing thing is that it will be introduced irrespective the political composition of the Government of the day. Our political parties&#39 lack of courage in opposing the bureaucracy appears to match the gutless stance of pension providers themselves.

Philip Thomas

Thomas Financial Planning

St Helens, Merseyside

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