Peter Jordan's 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's claim that moderate to high earners were always stakeholder's target market (same MM issue).
Indeed, Mr Jordan's 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's agenda. The most disturbing thing is that it will be introduced irrespective the political composition of the Government of the day. Our political parties' lack of courage in opposing the bureaucracy appears to match the gutless stance of pension providers themselves.
Thomas Financial Planning
St Helens, Merseyside