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Review for retirement

Gordon Brown is widely tipped to announce a royal commission-style review of the post-retirement income market in the Budget next week.

The ABI wants the Chancellor to make the announcement on Budget day.

But Dr Oonagh McDonald says: “It is time for the Treasury to stop blocking reform and take some action.”

Scottish Equitable business development manager Steven Cameron says: “I find it inconceivable that the Government would go into a general election without clarifying its position on retirement flexibility. There is a need for a complete revamp of its policy.”

l To ensure comprehensive Budget coverage, Money Marketing will be going to press a day later next week. Full details of the Budget and the views of our Budget panel will be available on on Thursday.


Needs must in targeted Budget

The Chancellor will stick to his guns and not try to bribe the electorate with a give-away Budget. There will be targeted tax cuts for those in most need. Families and pensioners will be the winners. I expect to see some changes in respect of pensions and annuities. It is no secret that annuities are […]

007 star bonds with FTSE

The FTSE is offering new indices aimed at setting a global standard for socially responsible investment. Unicef goodwill ambassador and former 007 star Roger Moore launched the indices at the London Stock Exchange this week. All licensing fees from the indices will be donated to Unicef. The FTSE4Good indices, covering the UK, Europe, US and […]

Mourning service

In common with most financial journalists,I get frequent correspondence from consumers who need information or to let off steam about a recent experience. My e-postbag contains more money problems than an FPC exam. They range from easily remedied glitches to serious examples of bad business behaviour. Although journalists by their very nature are cynical beasts, […]

Pension industry is split on with-profits

The pension industry is split over with-profits under stakeholder, with Clerical Medical steering clear while Norwich Union is making with-profits its stakeholder default. The news follows fears raised by the Faculty and Institute of Actuaries last week over ring-fenced with-profits funds under stakeholder, where the costs of investment smoothing and guarantees will need to be […]


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