Rowanmoor says restricting Asps based on religion and forcing everyone else to buy an annuity at 75 would be a “misrepresentation of trust” on behalf of the Government.In a letter to Treasury Economic Secretary Ed Balls, Rowanmoor director David Seaton accuses the Government of making no reference to its policy of forced annuitisation in the 2002 consultation paper that preceded the Finance Bill 2004. It says the bill, which explained that Asps would be introduced principally for people with religious objections to annuities, followed along similar lines. Seaton says: “The Government’s radical consultation document on pension simplification, which was issued in December 2002, made no reference to the Government’s policy being forced annuitisation at 75. To suggest otherwise is a misrepresentation of trust. “I believe that restricting Asps is an unconstitutional and extremely dangerous route to follow, bearing in mind the multicultural nature of the British people.” But Standard Life head of pensions policy John Lawson says: “Although the original 2002 CP did not mention its disapproval of all options except forced annuitisation at age 75, the process of the Finance Bill 2004 did make this point clear.”
7.5% Annual Income Plan October ’06
Barclays has brought out two structured products aimed at people with offshore life bonds.
Zurich Financial Services
Guaranteed Capital Account
The FSA has teamed up with Teachers’ TV to offer a series of programmes about personal financial education to be aired on the channel.The series, called Financial Capability, is made up of four programmes with two designed for use in class as a teaching aid and two designed to build teacher confidence in the subject.The […]
EEF stated in its 2015 EEF Manifesto that the UK’s growth prospects depend on people being fit, working and productive. Keeping people in work and helping people return to work is very important for the manufacturing sector. It means boosting productivity by getting people back into work as early as is possible, as well as fostering workplace cultures and environments that proactively manage individuals’ health conditions so that all can benefit from lower sickness absence outcomes.
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As the outlook for the UK’s economy remains uncertain, how can advisers prepare portfolios for any change in inflation? As higher inflation fails to appear on the horizon and wages grow faster than expected, fund managers are weighing up their portfolio moves for any potential changes in the economy. The UK consumer prices index rose […]
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Hartley Pensions has bought the “untainted” assets of the Lifetime Sipp Company, which went into administration earlier this year. An update published today on the website of Lifetime’s administrators Kingston Smith & Partners says Hartley Pensions has also agreed to administer the tainted Sipps held by Lifetime Sipp. The administrator described tainted assets as those where […]