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Fowler calls for grants to aid pension victims

Lord Fowler is calling for the Government to offer a series of grants to the victims of pension scheme wind-ups.

Speaking in the Lords last week, the former Tory party chairman called for positive action to address the problems facing 60,000 pensioners whose company schemes have folded.

He reminded the Lords of the compensation awarded to railway workers through his 1980 Transport Act when it became clear the British Rail fund had a substantial deficit.

Fowler wants to see cross-party co-operation to agree compensation to wind-up victims for a limited period of time.

He said: “I think that natural justice demands we should seek to help men and women who have saved for their retirement and done everything that successive Governments have asked them to do. But I advocate that course for another reason – there is an urgent need to restore confidence.”


Templeton eyes up emerging markets

RANKLIN TEMPLETON INVESTMENTS TEMPLETON GLOBAL EMERGING MARKETS FUND Type: Oeic Aim: Growth by investing in emerging market equities Minimum investment: Lump sum £1,000, monthly £30 Investment split: 100% in emerging market equities Isa link:Yes Pep transfers: Yes Charges: Initial 5%, annual 1.75% Special offer: Initial charge reduced to 3% Offer period: Until April 30, 2004 […]

Kelly gives pledge on Miles&#39 report

The Treasury is planning a consultation on Professor David Miles&#39 recommendations for the mortgage market. Speaking at the CML&#39s annual lunch, Treasury Financial Secretary Ruth Kelly said she fully endorsed Miles&#39 conclusion that the mortgage market needed urgent reform. Industry bodies initially criticised Chancellor Gordon Brown for skimming over Miles&#39 review in the Budget, but […]

Ex-B&W chief executive John Burke dies

Former Bristol & West chief executive and vice chairman John Burke, OBE, died suddenly last week aged 62. Burke joined B&W in 1964 as a branch assistant in Plymouth and swiftly rose up the ranks, becoming chief executive in 1993. He enjoyed considerable success &#45 introducing B&W&#39s strategy to focus on mortgages, savings and investments […]

&#39General election likely to scupper moves&#39

The possibility that homereversion schemes will be statutorily regulated is rap-idly diminishing, given the Government&#39s busy schedule in the run-up to a general election, according to a senior industry source. Regulating home-reversion schemes would require primary legislation, something which would take time and which the source believes is unlikely to be at the top of […]

Pension savings-2015

Pension tax relief: parked (for the moment)

The national news agenda has been dominated by pension issues this month. For those that missed it (and there cannot have been many given that this was the lead story in spoken and written media), the Chancellor announced a decision to make no decision on pension tax relief in his 16 March 2016 Budget speech. To […]


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