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Hung result would block reforms

A hung Parliament would be “a disaster” for pension reform, according to Cicero Consulting.

Director Iain Anderson said: “No party would want to coalesce for long. You would not get a Budget through, the regulatory architecture reforms would not get through and you would have the Conservatives wanting to review Nest and Labour not letting it. It would be a mess.”

He predicts that a majority of less than 10 would result in an election again in the autumn.

Hargreaves Lansdown head of pensions research Tom McPhail said: “The Nest administration contract has to be signed in June and the Nest Corporation takes over in July. Even if we get a hung Parliament, that agenda keeps on rolling and someone has to make those decisions. If that does not happen, everything starts to slide very fast. There is no margin there.”

But Standard Life head of pensions policy John Lawson: “The radical stuff will not get through but they need to give the market’s confidence in the country’s ability to repay its debt so they will have to at least pass a Budget.”


Abbey launches new broker division

Abbey for Intermediaries has set up a new broker division called Associate Accounts, which will offer exclusive mortgage deals to 10 brokerages.

Advisers have same issue of ‘ownership’

Gareth Fatchett in his article in Money Marketing describes the network model as a busted flush. In the main, his article circles around client ownership. Can we put this matter to bed once and for all. First, nobody owns a client – I say this on the basis that slavery was abolished quite a while […]


IFAs could save councils £1bn a year

Local authorities could save over £1bn a year if they used IFAs to advise them on funding for long-term care, says Partnership. Managing director of care Chris Horlick says local authorities are paying over £1bn a year for people who fund care for themselves but end up falling back on the state when they can […]

Scheme pays explained

By Fiona Hanrahan, senior product insight and technical support analyst We’ve received lots of queries on scheme pays and when it can be used. This article explains how it works and the conditions which apply. What is ‘scheme pays’? If an individual exceeds the annual allowance (AA) and an AA tax charge is due, they […]


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