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‘Nanny state approach to solving the crisis’

The Turner report is a “nanny state” approach to solving the UK pension crisis, says Positive Solutions chief executive David Harrison.

Harrison rejects the Nat-ional Pension Savings Scheme, saying it only serves to absolve individuals from the responsibility of managing their pension arrangements and the cost to business will hinder the UK’s competitive edge in Europe.

He says commission chairman Turner seems to have learnt nothing from the failure of stake- holder and says his proposals will not engage the consumer.

Harrison says: “This is just yet more socialist, nanny state dogma coming out. Overall we have to rely on the competence of Turner and the Labour Government to implement their plans. This is another step in the Government making the UK less competitive. They either need to increase National Insurance or tax or not, and not seek for employers to do the work.”

Millfield head of pensions Graham Duckett says the proposals will play into the hands of the banks and building soc- ieties, which will take a bigger slice of the pension market as they have greater reach into the mass market.


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Keith PopplewellIam now well advanced with this series of articles discussing various attributes of the main asset classes and projections of their future behaviour.

Thy will be done

The Judge case highlights the problems encountered when a will is written ambiguously

ABI warns about creation of state quango for pensions

The ABI believes the Pensions Commission’s report should be a springboard for closing the savings gap, rather than causing further delay.Director general Stephen Haddrill says says Turner can use lessons from the existing private sector to improve Britain’s public sector pensions issues.Haddrill says that although the ABI supports automatic enrolment into pension schemes, with a […]

Defining moment

The Marconi case must have banished any doubts about the intentions of the Pensions Regulator

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]


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