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Pension problem is profitability

In response to Damien Rylett&#39s snipe at my assorted writings on

stakeholder matters, he obviously has not bothered to read most of what I

have been saying.

My beef is not with stakeholder&#39s broad objectives of reducing charges and

simplifying product structures. Rather, I object to the way in which a

predetermined set of completely unrealistic parameters have been rammed

down the industry&#39s throat with nothing more than a token “consultation” on

the part of civil servants who have no concept of the need for private

sector businesses to be profitable in order to survive.

A question for you, Mr Rylett. Do you think the business which employs you

is going to be able to operate profitably on commission levels (for

personal pensions) which are barely more than a quarter of what they were

only a year ago unless your clients are prepared to pay fees which, as many

other commentators have opined, none but higher-net-worth individuals and

companies are prepared to pay?

Julian Stevens


WDS Independent Financial Advisers,




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Guide: day-to-day tasks ​— can your system manage?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. As well as highlighting what is required from a system to ensure it is up to the tasks, an overview of the following is also provided: data validation; data categorisation; employee communication; opt-in process; opt-out process; produce contribution schedule; contribution reconciliation process; upload of member data to pension provider; upload contribution to pension provider; manage salary sacrifice process; enrolment process; re-enrolment process; and management of increased employee queries.


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