View more on these topics

Pensions Action Group to hold all night vigil outside Downing Street

The Pensions Action Group will stage a protest outside Downing Street on Tuesday evening to highlight the government’s failure to deliver a verdict on the company pensions scandal.

The protest will start at 4pm and will continue through the night until 10am on Wednesday morning.

As part of the demonstration the group will deliver a letter to the Prime Minister and the Chancellor asking why they are still waiting for financial assistance. The group says they will demand to know what action the Government will take to compensate those who lost their company pensions.

Earlier this year, the Government set up the Young Review to identify whether it can find more money to put into the Financial Assistance Scheme, without much burden on taxpayers.

The group says it is holding this vigil ahead of the Young Review report to warn the Prime Minister “not to try to get away with any more spin and deceit over this issue”.

Ros Altmann says the Government has already admitted that it only needs around £20m a year to improve the Financial Assistance Scheme payments to the levels paid by the Pension Protection Fund.

She says: “If the Prime Minister really wants us to believe he will listen to the will of the people and the authority of Parliament, then he must immediately agree to settle this scandal properly. So far, he has refused to admit any responsibility for his pension failures and has refused to comply with the rulings of the Parliamentary Ombudsman, Parliamentary Public Administration Select Committee and UK High Court Judicial Review.”


Shadow of the sums

It is important to get your sums right. Whether you are
The Personal Accounts Delivery Authority faces this challenge next year. It was established to design and implement the new personal accounts scheme and the forthcoming Pensions Bill will give it the powers to start taking decisions like hiring contractors and setting the level and shape of the personal accounts charging structure.

HMRC set for another offshore amnesty

HM Revenue & Customs is to introduce a second offshore tax amnesty for people with offshore accounts.It says that plans are still being finalised but are likely to unveiled before the end of the year.But Grant Thornton tax investigations director Gary Ashford says another amnesty is unlikely to generate much revenue for the Treasury, as […]

Will boutique heroes wing it?

Advisers are questioning if some of Resolution Asset Management’s “superheroes” will fly off after the Pearl deal.But some commentators consider Pearl’s acquisition of Resolution is preferable to Standard Life taking over the firm, which would have seen RAM merge with Standard Life Investments.Hargreaves Lansdown senior adviser Ben Yearsley says: “There must be some relief around […]

How QE is distorting the gilt market

By Mike Riddell The moves in gilts in August were truly exceptional. Volatility in the gilt market (based off 10-year gilt futures) has soared to close to the highest levels seen this millennium, on a par with the eurozone debt crisis of 2011/12 and behind only the global financial crisis of 2008/09. The first distortion […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment