It still has not occurred to trade unions, the Government and large swathes of the financial services industry that it really is not an employer’s task tolook after the pension provision of staff. They are not benefit agencies or nannies. In the last analysis, they provide a good or service and pay a market rate to their workers. It is then up to the employee to spend his or her money as they think fit. These Government impositions will do nothing but skew the labour market. There are too many examples of benefit companies masquerading as a business. GM in the US is a benefit company that makes cars on the side. BA over here flies planes as a sideline. There are many more examples. Government interference over the last eight years has in the end done nothing but reduce pension benefits which were provided in a free market. Perhaps the TUC needs to consider whether pushing for pensions paid by employers does not in the end jeapordise the very jobs they seek to protect. The inescapable conclusion to the conundrum concerning those who will not save for retirement is that most unpalatable and unpopular of all words – taxation. The problem here is that one requires a Government that is competent, honest and willing to think further than the next election. That settles that then – the problem is intractable. Harry Katz Norwest Consultants Stanmore, Middlesex
If you ask any industry professional, what are the major difficulties their profession will face over the coming 20 years, you will get a whole host of answers depending on their own personal view.
I have just been made redundant and social security want to know what pensions I can expect before it pays me any form of credit. I only have a few small pensions, not worth much, should I take them?
Among the many misconceptions that the overwhelming majority of members of the public – and not a few IFAs – have about journalists is the one that we spend most of the time writing articles.
Advisers have criticised Friends Provident’s UK special situations fund which has been launched as an alt- ernative to Fidelity’s special sits split. The new life and pension fund aims to replicate the geographical exposure of Fidelity’s original fund and is made up of three extern- ally managed funds – Merrill Lynch UK special situations fund, […]
Johnson Fleming has received the ISO 22301 accreditation, which demonstrates the company’s ability to effectively understand and prioritise the threats to the business.
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