View more on these topics

Plan to protect pension rights

A future Tory Government would consider introducing an insurance scheme for occupational pensions to protect employee rights in the event of companies going bankrupt.

Speaking at a fringe meeting at the party&#39s conference in Bournemouth, Shadow Work and Pensions Secretary David Willetts said the idea had a degree of merit as occupational pensions are one of the most crucial ingredients to prosperity in retirement.

He identified the move away from defined-benefit to defined-contribution schemes as a very worrying trend and said preserving occupational schemes would be a high priority of any Tory Government.

Willetts admitted the Tories would be reluctant to reinstate tax relief on dividends in occupational pensions, which Chancellor Gordon Brown removed in 1997 and is worth £5bn a year to Government coffers.

He said removing £5bn from the balance sheet in one swoop would mean a significant loss to other areas of spending.

Willetts also said he would not consider banning employers from taking contribution holidays because it might spur them into stopping contributing altogether.

He said: “We are looking at an insurance scheme for occupational schemes to protect employee pension rights in the event of companies going bust. We could find there are other ways we can rebuild confidence in occupational pensions without reinstating tax relief on dividends.”


Bigger role for Young

Misys head of mortgage services Andy Young is having his role extended to negotiate deals with lenders for all its five networks.Young, who joined last year from Zurich IFA, previously managed mortgage business for the 4,000 advisers in Misys&#39 IFA Network, Countrywide, Kestrel and Financial Options networks but his negotiating responsibilities will now cover DBS&#39s […]

WP bonds &#39could miss out in market recovery&#39

IFA Bestinvest is warning investors to steer clear of most with-profits bonds under current conditions as they are unlikely to benefit from the full effects of a stockmarket recovery.In its latest guide, Bestinvest says only life offices with good financial strength are worth considering as many need to replenish weakened reserves and cannot offer satisfactory […]

Fraser out as AMP splits its UK business in two

AMP&#39s new chief executive Andrew Mohl has announced a radical shake-up of its UK financial services, including the departure of managing director Tom Fraser.The UK business will be downscaled and split into two separate operations following AMP&#39s acceptance that its ambitions to become a top five company in the UK were unrealistic.As part of the […]

Survey finds fund past performance is a key indicator

Past performance is a key indicator when choosing which funds are more likely to enjoy top-quartile performance in the future, according to a report commissioned by the Investment Management Association.Ima claims the study by consultant Charles River Associates is the most comprehensive ever undertaken. It monitored 940 funds from four UK equity sectors – all […]

In Focus image

In Focus — May 2015: private medical insurance market in Germany

Welcome to the latest edition of In Focus. In this issue, Jelf examines the private medical insurance market for employers with expatriate workforces in Germany. This includes the common challenges faced in sourcing appropriate coverage, along with a selection of available solutions. This will be of particular interest to HR/reward decision makers with employees based in Germany. It will assess the cultural norms, risks and backdrop that are relevant to organisations with expatriate staff in this location.


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