View more on these topics

Opposition says bill fails to fill gap

Opposition parties say the Pensions Bill does nothing to address the retirement savings gap and ignores the problems of people who have already lost their final-salary schemes.

The Conservatives say the bill contains nothing to reverse the spread of means testing of state benefits for pensioners and gives no new incentives to employers to set up new schemes for workers.

The Liberal Democrats say the pension protection fund does nothing for the thousands of employees whose final-salary schemes have already failed them.

Unions Amicus and the ISTC say compensation of the Allied Steel & Wire workers, who have seen their benefits slashed, is the only way to restore faith in pensions in the UK.

Conservative Shadow pensions minister Nigel Waterson says: “There is no incentive to save in this bill. It includes nothing to persuade a single employer to keep open an existing pension scheme, let alone start a new one for their employees.”

LibDem work and pensions spokesman Steve Webb says: “There is nothing in these proposals to help the tens of thousands who have already lost all or part of their promised company pension. The Government has a moral duty to compensate them.”

ISTC general secretary Michael Leahy says: “We will not abandon our members at ASW and others like them. We will take this to the European Court of Justice but we hope before then that the bill will be amended to include compensation for ASW workers.”


Sesame offers two network options for loan brokers

Sesame is offering mortgage brokers two regulated network options under mortgage regulation along with the opportunity to remain directly authorised while using its support services. Appointed representatives will be able to join Mortgage Select, which has a panel of lenders, or Mortgage Market, which covers every lender in the market. Procuration fees are higher for […]

Payouts fall by 6% at Friends

Friends Provident is cutting payouts on with-profits policies by an average of 6 per cent despite the fund showing growth for the first time in three years. A 65-year-old male paying £200 a month into a conventional with-profits personal pension over 20 years will receive £127,273, down from £146,373 in August last year. A male […]

Paul Smee appointed as Practiv non-exec director

Aifa director general Paul Smee is joining IT consultancy Practiv as a non-executive director. Practiv specialises in product delivery and distribution, and advises companies on IFA business solutions. Smee says: “I am glad to be joining a company whose successful operations can help make an IFA&#39s life a lot easier.”

Letwin paves a path between taxation and public services

Oliver Letwin has unveiled key elements of his economic strategy designed to put the brakes on overall public spending while ensuring that more cash is pumped into health and education. And while the Shadow Chancellor aims to reduce the share of national wealth spent by Government – by slashing back on bureaucracy and curbing the […]

Large-cap growth alpha thesis: seeking risk-adjusted excess returns

Content supplied by Loomis, Sayles & Company — an affiliate of Natixis Global Asset Management For mutual fund investors and managers of large pensions or endowments, a major challenge is to identify those portfolio managers who are most likely to deliver superior risk-adjusted returns in the future. Understanding how an investment philosophy informs a manager’s decision […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm