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NAPF warns of dangers in auto-enrolment exemption

The National Association of Pension Funds has warned the Government not to exempt small businesses from its auto-enrolment reforms or extend their implementation deadline.

Last month, it emerged that the confidential Beecroft report commissioned by the Government recommended that auto-enrolment be delayed for small companies.
Currently, small employers will only be required to auto-enrol people into a pension from 2014 and pension contributions will be phased in gradually to limit the impact on employers.

The NAPF says that 14 million people are set to have an inadequate income in retirement and the Government’s reforms could help up to nine million people save.

NAPF chief executive Joanne Segars says: “While carving out or pushing back the start date for small employers might have short-term political temptations in the current economic climate, the longer term effects would be highly damaging to the nation’s retirement prospects.

“Small firms are essential to making these reforms work. Of the nine million expected to be enrolled, up to three and a half million are working for small businesses. Exempting them or delaying their start would put them at risk of a retirement spent in poverty.”


Hinckley & Rugby cuts 90% LTV discount deals by 0.4%

Hinckley & Rugby Building Society has cut interest rates on two of its 90 per cent LTV discount mortgages by 0.4 per cent. Its lifetime discount mortgage is being reduced from 4.64 per cent to 4.24 per cent, while its two-year discount deal is being reduced from 4.59 per cent to 4.19 per cent. Both […]

Status factors

Plans for a new definition of tax residence cover a combination of connection with time spent in the UK

Threadneedle appoints Julian Thomas as product development director

Threadneedle has appointed former LV= Asset Management head of product development Julian Thomas as director of product development, Money Marketing can reveal. Thomas replaces ex-product development director Damian Barry, who was appointed as multi-manager fund manager for the unfettered range of funds earlier this month. Former IMS chief investment officer Giles Gilbertson joined Threadneedle on […]

Natixis video: Making smarter use of asset classes

Content supplied by Natixis Global Asset Management This video from Natixis Global Asset Management focuses on Active Share. One strategy for the smarter use of equity investments is ensuring you get what you pay for. According to the company, looking at Active Share can give you a better perspective on where performance comes from. Active […]


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