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‘Make Nest success a priority’

The Federation of Small Businesses has urged the Government to make Nest’s success a priority as pressure grows on ministers to scrap the scheme’s restrictions.

Under current plans, member contributions to the Government-backed scheme will be capped at £4,200 and transfers in and out will be banned.

The restrictions are due to be reviewed in 2017 but a report from the work and pensions select committee says they should be removed “as a matter of urgency”, provided the loan agreement between the Government and the EU allows this to happen.

At TheCityUK’s pension conference last week, FSB policy chairman Mike Cherry said: “Most small firms will choose Nest as their company scheme, so our primary concern is whether Nest will be able to reach the critical mass it needs. We call for this to be a Government priority. We also want to see the contribution cap removed and Nest to be able to accept transfers.”

Age UK head of public policy Jane Vass said: “I am concerned that Nest is hamstrung by the cap on contributions and the ban on transfers. We would like to see those restrictions removed as soon as possible.”


Relief roads

Last week, I considered the current high profile of anti-avoidance provisions, with special reference to the latest raft of provisions in the 2012 Budget and the much discussed, well, at least pondered, proposal to limit income tax relief claimed by individuals to the greater of £50,000 and 25 per cent of income from April 6, […]

Omam introduces dollar exposure for global fund

Old Mutual Asset Managers head of fixed income Stewart Cowley has introduced dollar exposure into the £629m Old Mutual global strategic bond fund in anticipation of a flight to safety towards dollar assets. He has brought in a 24 per cent US dollar exposure to the fund through forward foreign exchange contracts. Fifty-two per cent […]

Franklin Templeton launches Africa fund for Mobius

Franklin Templeton has launched an African fund for star emerging markets manager Mark Mobius. The offshore Templeton Africa fund has received verbal approval from the Luxembourg regulator, the CSSF. The fund will aim for long-term capital growth by investing in African-listed equities or companies based elsewhere but with principal business activies in Africa. Mark Mobius, […]

Tech IPOs: The outlook in 2017

Ali Unwin, CTO & Fund Manager, Neptune 2016 was a weak year for technology IPOs – only 13 US venture-backed tech IPOs hit the market, in spite of fairly high public market valuations and investor appetite. Will 2017 be different, asks Neptune CTO & Fund manager Ali Unwin. Click here for article Important Information Investment risks Neptune […]


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