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Occupational pension scheme membership plunges by 1 million

Occupational pension scheme membership has plunged by one million, according to data published by the Office for National Statistics.

The number of active occupational pension scheme members was 9.8 million in 2004, but dropped to 8.8 million by 2007.

ONS says it is likely that the drop would have been even larger if not for a rise in public sector scheme membership.

Occupational pension schemes have decreased in number by nearly 4,000 since 2006.

Revised figures from 2006 released this week indicate that the Government overestimated the number of occupational pension schemes for that year.

Shadow Secretary of State for Work and Pensions Chris Grayling says: “These figures show the long term damage Gordon Brown’s stealth tax raid has done to the UK pensions system. It is little wonder that people no longer trust this Government on pensions.”


Structured argument

The Association of Mortgage Intermediaries has warned mortgage brokers who decide to sell structured investment products that there are a number of potential risks that must be avoided.

Industry takes hit to profitability

Profitability in the UK financial services industry has declined at a record pace and business volumes have fallen at the fastest rate in 17 years, according to a PricewaterhouseCoopers survey.

Point of no returns

An advantage of working from home is that no one is looking at you as you work away, an advantage when you end up spilling a bowl of muesli all over your keyboard and trousers as I did when I read that Prudential would not be returning any of its £8.7bn inherited estate to policyholders and shareholders.

Savers feeling the crunch

Scottish Widows says a cloud of pessimism is hanging over savers after a survey found that many believe they cannot afford to increase the amount of money they put aside.

William Littlewood “betting that QE won’t work”

Journalist Alexis Xydias interviews Artemis manager William Littlewood about his views on bond, equity and currency markets and the impact of a Greek exit from the EU. With bond yields at “ludicrous” levels, William believes a tipping point for bond markets is sure to come. As a result, his Strategic Assets Fund holds government bond shorts to the tune of 100 per […]


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