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Employees to be compelled to join schemes

Employers should be allowed to make membership of their pension scheme a compulsory condition of employment according to the Pickering.

The Pickering report says this provision should include traditional final salary and money purchase occupational schemes, stakeholder, personal pensions and group personal pensions.

However the employer will only be able to make membership compulsory if it is making a contribution of at least 4 per cent of the employees pensionable salary.

The move turns back the clock to pre-1988.


Sandler: provider response

SkandiaThe cost of redesigning products and administration will be considerable and contrary to the objective of simplifying the sales process, with consumers ultimately bearing the costs. Scottish WidowsProtection should be added to the stakeholder suite of three products but a price cap will lead to market distortions. Norwich Union LifeWe have the size and scale […]

Threadneedle favours corporate bonds

Threadneedle is doubling the proportion of investment-grade corporate bonds held in its European bond fund to 40 per cent.At present, the fund&#39s exposure to corporate bonds is around 20 per cent. Threadneedle says the move will allow the fund to benefit from increased opportunities in the European non-government market and will raise the yield on […]

Sandler to criticise actively managed funds – FT

Ron Sandler will criticise actively managed funds, saying investors should look instead to trackers when he issues his report tomorrow according to the Financial Times.Sandler will be critical of actively managed funds for charging consumers too much and not delivering the FT says.Contrary to earlier reports Sandler will effectively endorse the FSA&#39s Defined Payment proposal […]

Hargreaves says Pickering may expose pensioners to perils of inflation

Hargreaves Lansdown says Pickering&#39s proposals to remove LPI requirements for occupational pensions will re-introduce the “peril” of inflation for pensioners.Hargreaves says the move would reduce the cost of final salary schemes and save some from being scrapped but will expose pensioners to inflation at a time when retirement life expectancy is approaching 20 years.But it […]


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