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.”
GAM Star Asian Equity
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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Fund managers who have helped pay compensation over the collapse of life settlement bond provider Keydata will receive a £12m refund, the Financial Services Compensation Scheme has announced. Keydata’s management has been embroiled in a multi-million-pound legal battle with the FCA since it collapsed in 2009. The total bill for compensation stands at more than […]
With no employer to fall back on, the self-employed are on their own when it comes to retirement saving. Irregular income patterns can make it harder to save regularly into a pension and commit to locking money away until age 55. Those who are building a business may see that as their biggest asset and […]
The FCA has finished implementing the recommendations of the Financial Advice Market Review with the publication today of a policy statement relating to personal recommendations today. The FCA aligned itself with Mifid II last year by mandating that regulated advice must contain a personalised recommendation. In August last year, the FCA published a consultation paper […]