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Survey reveals little faith in pension compulsion

Nearly three-quarters of pension professionals do not believe compulsion is a workable solution, says Origen.

Results of a poll show 86 per cent of pension fund managers believe pension legislation will fail in its goal to emp- ower people to make “clear and confident decisions on savings”. Two-thirds are anxious over defined-contribution schemes, with over60 per cent believing their members are underfunded.

The forum of 43 pension fund managers revealed that most consider the plans for pension simplification will barely affect uptake of company pension schemes.

Speakers at the forum included Pre-Retirement Ass-ociation trustee Alan Pickering, NAPF representative Terry Faulkner, ABI acting head of pensions and savings Helen McCarthy and GlaxoSmith-Kline vice-president of worldwide employee benefits Rob Collinge.

The conference was aimed at pension managers from companies with at least 3,000 employees.

Origen business development director Tudor Taylor says: “The lack of belief in compulsion and the ineffectiveness of Government legislation were not surprising, but the frankness of the opinions voiced over these and other pensions and employee benefits issues were.”


AMI’s view

Like an iceberg, the majority of the costs of mortgage regulation have been hidden from view as they have been swallowed up by internal considerations – IT, staff and management meetings, training, let alone opportunity cost. This is why the AMI has been on the front foot helping members to understand the implications of fee-charging and what a reasonable level of fee looks like.

Watson Wyatt settles out of court with Credit Lyonnais

Watson Wyatt Partners has settled its alleged negligence case, called by Credit Lyonnais pensions cases. Credit Lyonnais has agreed to their claim being dismissed and settled out of court, under confidential terms, with no payment made before the court on either side.The allegation relates to work done during 1996 to 1999, with the trial commencing […]

ScotEq Intl warns of tax-free dangers

IFAs must warn their clients of the threat of inheritance tax on supposed tax-free savings vehicles, cautions Scottish Equitable International.

The Day of (B)reckoning

A period of exceptional uncertainty started last Friday for the UK, including a fierce leadership battle in a deeply divided Conservative party, the timing of the trigger of the EU’s Article 50, as well as a potential referendum in Scotland, and Northern Ireland. Click here to read the full article


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