Conservative Shadow Chancellor George Osborne has criticised Government dithering over alternatively secured pensions, claiming it would be extraordinary to scrap or disadvantage the product at this stage.Speaking at the Pep & Isa Managers’ Association conference last week, Osborne said it would be wrong to waste industry money spent developing and marketing Asps and there was no reason for the Government to be so dogmatically opposed to this “small opening” of the annuity rules. Osborne was a Shadow Treasury minister when the A-Day rules passed through Parliament and said the Government was aware from the outset that the industry would exploit the freedoms to market the product more widely than to the Plymouth Brethren. Osborne indicated that a Conservative Government would overhaul the annuity rules radically although he said it was too early to produce specific manifesto pledges. He said as long as an individual puts in place arrangements to ensure they will not be reliant on the state, the Government should not force them to annuitise. Osborne attacked Chancellor Gordon Brown’s record on pensions, including scrapping advance corporation tax relief on dividends and last year’s public sector deal. He said: “It would be extraordinary now for the Government to backtrack on this. The costs the industry has put into developing and marketing Asps will be wiped out in a similar way to last year’s Sipp U-turn. It knew from the outset the industry would market the product in the way it has.”
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Newly launched company the Online Marketing Department Store says it will provide IFAs with the ability to print marketing materials at low cost. It provides an online range of pre-written and designed templates in generic format or tailored to advisers’ brands. A copywriting and design service is also available. Advisers can upload their logos and […]
Invesco Perpetual has appointed Guy Short as finance director for its London-based specialist funds team.Short joins the group from the investment trust division of F&C Asset Management where he was company secretary for F&C’s colonial Eurotrust and the US smaller companies investment trust.Before joining F&C Short was a director of corporate broking at Merrill Lynch. […]
Commercial property has had a very good run over the past five years, with unit trusts which invest directly in property rather than property shares showing returns of around 12 per cent a year to October 1, 2006. I do not expect this rate of return to continue because quite a lot of the performance was due to falling yields but I do expect returns to be in high single figures.
Click link to view full video Portfolio manager Aziz Hamzaogullari talks about the unique style he brings to growth investing, shares examples of companies that meet his growth criteria and explains the importance of fundamental research in a concentrated fund.
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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 […]
IFA directors Kevin and Cheryl Neal have been banned from being company directors by the Insolvency Service for six and four years, respectively. The married couple ran the now-defunct Hertfordshire-based Kevin Neal Associates Wealth Management. They were disqualified for taking assets from an insolvent company. The firm had been incorporated to take over the business interests […]
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 […]