View more on these topics

Poll shows 77% of public back compulsion

Most MPs believe private pension contributions should be made compulsory, according to research commissioned by Virgin Money.

Virgin found that while 60 per cent of the MPs questioned supported compulsion, 64 per cent of MPs also thought that the UK was not yet ready to accept the move.

But more than 77 per cent of the public believe compulsion is a good idea, according to parallel consumer research also commissioned by Virgin.

The consumer research shows that half the country would be happy to contribute 5 per cent or more of their pay into a scheme. Seventy-five per cent of MPs believe compulsion should apply both to employers and employees.

The research was commissioned from TNS Harris to mark the anniversary of the introduction of stakeholder. TNS Harris interviewed 148 backbench MPs. The consumer research was carried out by Taylor Nelson Sofres Phonebus from a sample of 1,000 UK adults in February.

Virgin Money marketing manager Gordon Maw says: “We are calling on the Gov-ernment to introduce compulsory contributions. The introduction of stakeholder a year ago was a major step forward but just to have a better-value product is not enough.

“People need to see contributions going in regularly. Many people were already facing a pension shortfall in retirement long before employers began withdrawing major benefits such as final-salary schemes. Compulsion is the only way to fill that gap.”


Teather and Greenwood takes Aim

Teather & Greenwood Investment Management UK Smaller Companies Fund Product details Type: Oeic Aim: Growth by investing in Aim-listed companies Minimum investment: Lump sum £500 Investment split: 100 % invested in Aim-listed companies Isa link: Yes Pep transfer: Yes Charges: Initial 5 %, annual 1.4 % Commission: Initial 3 % Tel: 020 7426 9003 Broker […]

SLI picks new global team chief

Standard Life Investments has appointed Rod Paris to head its global bond team, triggering the departure of highly regarded UK fixed-interest manager Will Hay.The changes follow a disagreement about strategy, with the board wanting to put more emphasis on global rather than UK fixed interest.Paris is currently managing director and head of global fixed income […]


“I am sure it will in due course but it is quite a body blow at the moment.”Colin Studd, Chartway Financial Management “Yes. These shocks tend to smooth out over time. It will be a blow for these particular funds, as IFAs may eschew them for a while, but history shows that performance is not […]

Scarborough Building Society – flexible 10-year discount

Scarborough Building Society flexible 10-year discount Discounted term: 10 yearsDiscount:1.25% Payable rate: 4.74%Minimum loan: £25,000Maximum loan: £250,000Income multiples: 3 x principal, 2.5 x jointArrangement fee: NoneRedemption fee: 2.5% of sum repaid payable within first two yearsConditions: Up to 95% LTV, no MIG up to 90% LTV, 2.5% charge made on any capital repayment that exceeds […]

Artemis Monthly Distribution Fund: positioning and outlook

Managers James Foster and Jacob de Tusch-Lec outline the fund’s investment approach and discuss current investment themes and outlook for the bond and equity markets. As James and Jacob confirm, the Artemis Monthly Distribution Fund’s aim is to generate an income from both equities and bonds. They explain their investment approach in each asset class, the sectors where they are […]


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