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Labour party conference in Brighton

Pensioners from the engineering trade campaigned on Brighton seafront outside the Labour conference to put pressure on the Government to restore their full pensions.

Members from UEF and the Pensions Action Group are calling for the Government to pay them 100 per cent of their Prudential final-salary pension scheme which they lost when UEF went into administration in 2002. The Financial Assistance Scheme pays 90 per cent of a pension with a cap of £29,386.. The Justice for UEF pensions group says Business Secretary Lord Mandelson has agreed to meet with them to discuss the issue. 

UEF member Willy Riggans says: “We believe that we deserve the same fairness as the people who invested in Icelandic banks and are getting 100 per cent back. Sir Fred Goodwin and the bankers are getting a guaranteed pension so why aren’t we? All we want is to be treated with the same fairness as others and we will not stop until we get the pension we paid for.”


Shareholders told to liquidate trust

Invesco Perpetual has outlined further details about the proposed wind up on its European Absolute Return investment trust on October 30, including shareholders’ options for rollover.

In at the deep end

Apart from advising on suitable investments for existing trusts (a potentially important market for those looking to collaborate with solicitors, especially in light of the 25 per cent increase in the rate of tax to be suffered on trust income from April 6 next year), for many years, the only “retail” trusts that most financial advisers had to deal with in connection with “new” investments were those connected with insurance policies – first protection and then investment.


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