The implementation of home information packs is delicately poised and it is far from certain that they will be introduced as planned, according to the CML.Speaking at the BSA conference, deputy director general Peter Williams raised the spectre of the Government’s recent Sipp U-turn to warn delegates that Hip plans are still subject to the whims of Westminster. Williams said as more stakeholders plough money into Hips, it will be harder for the Government to backtrack. He said the Government wishes it had never proposed Hips and it is hard to predict future policy amendments as implementation of the new regime nears. Hip supporter Rightmove head of business services Alex Solomon admitted that a change in Prime Minister in the next six months could derail Hips. Williams said: “Will the Sipp experience make it easier or harder for Government to think about a U-turn with Hips? Do they think they can get away with it again? I still think the political debate around Hips is very delicately poised.”
A radio phone-in on pensions provoked much response from listeners
Guy Anker on the trend for societies to create separate brands for intermediaries
The Oakwood Group is likely to use packagers despite Michael Bolton’s outspoken criticism of the market. MBAC Consulting director Alan Cleary, who is expected to form part of Oakwood’s senior team, anticipates that the new firm will use packagers to add value and help with distribution. Cleary says: “I would have thought that Oakwood will […]
AIG is understood to be entering into the bulk annuities market in the UK. The US insurer will be launching with the technical support of outsourcing firm Higham Group. AIG has been linked with the possible acquisition of Prudential, one of the largest suppliers of bulk annuities in the UK.
In the run-up to the Budget, there was some concern that the chancellor might ‘call time’ on the use of salary sacrifice in employee benefits provision.
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