View more on these topics

Hammond calls for sustainable pensions system

Shadow Secretary of State for Work and Pensions Philip Hammond has called upon the industry to create a sustainable pensions system and says the media has a major role to play in restoring consumer faith in pensions.

Speaking at Aon Consulting’s Pensions & Investment Journalist of the Year Awards in the Houses of Parliament yesterday, Hammond called upon the media to stop reminding consumers of past pension failures and said it was damaging consumer confidence.

Hammond said: “We must stop the damaging effect of the constant media reminders of pension failures past, before we can create a platform for pension successes future.  We must do this not by stopping the media, but by addressing the causes.”

He also highlighted the need for employers to be able to arrange pension schemes which represent value for both them and their employees. 

He said: “If it costs an employer £100 to provide a pension benefit (allowing properly for the risks being taken on) but the employee values it at only £80; then this is unsustainable. 

“If we can get to a position where it costs the employer £100 to provide a benefit but the employee values it so highly that he is prepared to give up £110 of salary for it, then employers will be keen to provide pensions. This ought to be possible, at least for large employers, who have a much greater ability to manage risk than an individual.”


Psychometric testing helps asset allocation for Lighthouse clients

Lighthouse Group is introducing a psychometric riskprofiling tool linked to a third-party fund of funds in conjunction with Distribution Technology and F&C.The IFA group says the initiative will ensure asset allocation is “appropriately and intimately” matched with a client’s attitude to risk.The tool will link directly to F&C’s multi-manager lifestyle funds, providing a portfolio adapted […]

The great bank robbery

By this time next week, the FSA may have made the biggest mistake in its history.Forget the mishandling and blame-shirking over Equitable Life or the madness of an ombudsman review of endowments that uses retrospection while the FSA claims it does not.Ignore the PI nightmare – due to uncertain regulation.Overlook the scars left on the […]

Selestia Investment Solutions goes live July 30

Skandia’s new fund platform Selestia Investment Solutions will launch on July 30 with a range of e-business services and investment tools and over 900 funds available. The tools will include a fact-find, portfolio construction, online application and portfolio reviews and data will be pre-populated throughout the system requiring only one set of keying in. It […]

Harris Associates' view on the UK’s vote to leave the EU

By David Herro, Partner, Deputy Chairman, Portfolio Manager and Chief Investment Officer of International Equity at Harris Associates Britain’s vote to exit the European Union has led to significant uncertainty across global markets. We believe market impact of this uncertainty, though severe, is more of a shorter-term phenomenon which will provide an opportunity for long-term […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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