View more on these topics

Employers are not nannies

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 to

look 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

Recommended

Regeneration gap

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.

Hold fire on pensions

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?

Personal effects

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.

Friends aims for Fidelity sits switches

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, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com