View more on these topics

Smith resignation forces Blair to push ahead with reshuffle

The surprise resignation of Work and Pensions Secretary Andrew Smith will force Prime Minister Tony Blair to plough ahead with a Cabinet reshuffle.

Smith, who is seen as a close ally of Chancellor Gordon Brown, was app-ointed two years ago.

The vacancy could be filled by any number of willing candidates. Trade Secretary Patricia Hewitt and Defence Secretary Geoff Hoon are tipped for the position but a reshuffle could see a more junior minister such as Treasury Financial Secretary Ruth Kelly take the role.

Pension experts believe that a new man or woman at the helm will not make a significant difference to pension policy as legis-lation for the next two or three years, including A-Day, has already been set in train.

Smith tried to restore battered confidence in company pensions with the Pensions Bill, establishing a pensions regulator and a protection fund to help members of occupational schemes if their employer goes bust.

Cicero Consulting director Iain Anderson says: “This certainly comes at an interesting time with the Pensions Bill still running through the house and the impact of Adair Turner&#39s report in five or six weeks. Whoever fills Smith&#39s shoes will have a lot to deal with.”


Alliance & Leicester – Two Year Fixed Rate Standard Package

Type: Fixed-rate mortgage Fixed term: Until October 31, 2006 Fixed rate: 4.95% Minimum loan: £15,000 Maximum loan: Up to 95% of valuation subject to a maximum of £250,000 Income multiples: Up to 95% of valuation &#45 up to 3.3 times principal income plus second or 2.75 times joint, up to 85% of valuation &#45 up […]

In Partnership sets target of 1,000 advisers

IFA In Partnership is looking to raise cash to help it double adviser numbers to 1,000 by the end of next year. The network has 500 advisers but wants to have 750 by the middle of next year and 1,000 by the end of next year, In Partnership plans to float the company in the […]

Thoresen to take over at Aegon as Henderson steps down

Aegon UK chief executive David Henderson is retiring after six years in the role. Henderson, who is the long-est-serving CEO of a Scottish life office, will retire in March 2005 and will be replaced by finance director Otto Thoresen. Mark Laidlaw, who joined Aegon UK in 1988, has been appointed chief financial off-icer, replacing Thoresen […]

Prudential takes rough with the smooth

PRUDENTIAL PruFund Investment Plan Type: Smoothed unitised investment bond Aim: Growth and income by investing in a choice of two smoothed managed funds Minimum investment: Lump sum £5,000 Fund links: PruFund growth fund, PruFund growth and income fund Charges: Regular income option &#45 establishment charge 0.45% a year for first five years, annual 1.5% until […]


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