Former welfare minister Frank Field has continued his onslaught against Government pension reforms by calling on the industry to be more vociferous in criticising the plans.At the Merseyside Life & Pensions Society, Field said the apparent developing consensus around reforms was dangerous. He brought up the Dangerous Dogs Bill as an example of a policy that commanded overwhelming support but was “one of the worst thought through pieces of legislation ever to become law”. Speaking in the run-up to the Labour party conference in Manchester this week, Field said the first step of the reforms must be to lift everyone out of means-testing. He said until pension credit was scrapped, the Government could not claim it paid to save. Field also said he believed that, whatever structure the NPSS took, it would create “another complicated tier of pension provision” and the Government would open itself up to huge liabilities. Field said: “Why won’t the pension industry speak out against the Government’s reforms? I have spoken to numerous companies whose business is selling pensions and without exception they all agree that the Government’s proposals are ludicrous. “Which company chairman is going to be brave enough to tell the king he has no clothes or, at least, no clothes worth wearing?”
Henderson head of UK wholesale Phil Jefferson and his European and Asian counterpart Mike Clare are leaving the firm following a group restructure. Henderson says Clare is ret-iring while Jefferson, who joined two years ago to help develop the UK retail business, is leaving to pursue other opportunities. Henderson has created what it calls a […]
Advising on contracting out has become a real burden
The launch of instant offers in the sub-prime market could signal a reduction in proc fees for brokers, according to Openwork mortgage proposition director Paul Shearman. He believes the fact that brokers will have their work cut less with such technology means that lenders may start offering reduced fees. Some commentators have recently slammed the […]
New Star Asset Management employees have cashed in around 40m-worth of shares, with speculation that fund manager Alan Miller, who is on a sabbatical, may have sold up to 15m in stock. New Star managing director Mark Skinner has also sold over 310,000 shares, netting him nearly 1.185m. Staff who bought shares in the group […]
‘Work like a dog day’ recognises the hardest-working people. On this day, employers show their appreciation for all of their employees who carry the heaviest workloads.
- Top trends
- Top trends
- Lifetime allowance 2018/19 increase confirmed but pensions absent
- Revealed: Fidelity International director investigated over harassment claims
- How much are advisers charging for pension transfers?
- Robert Reid: Don’t let social media comments diminish our profession
- Steve Bee: Why still no justice for Waspi women?
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
I always try to check my Twitter feed over breakfast. Recently, a tweet from IFA Philippa Gee caught my eye. She had taken her time to attend an investment conference and found she was the only woman there. Comments followed that this occurrence is far too common. According to Unbiased, just 13 per cent of […]
Consumer champion Martin Lewis has today issued High Court proceedings against Facebook over scam adverts published on the site that use his name, picture or reputation. Lewis, who is the face of website Money Saving Expert, is bringing a lawsuit against the social media juggernaut for defamation seeking exemplary damages. Lewis says any money paid […]
Michael Klimes examines if advisers can resolve all drawdown issues themselves or if a wider effort is needed