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Ukip wants to end Govt ‘meddling’ in pensions

Ukip head of policy Tim Aker has called for an end to Government “meddling” with pensions policy as it creates ”turmoil” for those trying to save for retirement.

Speaking at the Ukip conference in London last week, Aker said he wants to simplify the system to ensure those with longer contribution records get a better deal from the state pension. 

He said: “Pensions is an area where it gets very complicated and we support simplification. One issue we have to bear in mind is that every time a Government starts meddling with the pensions system they are messing with people’s livelihoods.

“People don’t want the worry of turmoil hanging over them. Enough has been done to pensions already and I think Gordon Brown should be hounded out of this country for raiding pensions the way he did. The damage quantitative easing has done to pension funds is also huge.

“When we are out of the EU and our economy growing again we will be in a position to give those who have contributed all of the lives a state pension we would be proud of.”

Speaking to Money Marketing before he had the party whip removed by Ukip last week, MEP and former financial services spokesman Godfrey Bloom added: “Our policies will be fair and related to what people contribute. It is totally wrong that someone can work all their lives for 40 years, paying their insurance stamps, and end up with a smaller pension than someone who pays for 30 years or with some state help someone who has contributed absolutely nothing.

”It is important the social system is a safety and your pension should be a direct consequence of what you have contributed, which was the original idea and not a catch all where everyone gets a win.”



Tony Wickenden: Investment bonds deserve another look

Since the introduction of the RDR and with the increasing amount of business done on platform where, understandably, for non-Isa or non-Sipp/pensions-related investments the “default” strategy is one of unwrapped investments, it seems that (with a few notable reported exceptions) investment bonds, and particularly UK investment bonds, have attracted less adviser and investor attention. The […]


IFA Centre calls on FCA to act over advice gap concerns

IFA Centre managing director Gill Cardy is calling on FCA chief executive Martin Wheatley to act over his concerns about an advice gap and create a simplified regime. Speaking at the Treasury select committee earlier this month, Wheatley said he had “concerns” over the mass withdrawal of bank advice after the RDR and an advice […]

Ian Naismith: Forget charges, investment is key

As automatic enrolment gathers pace, a rapidly increasing number of employers will choose a pension scheme for their staff, many of them for the first time. But how will they decide? The Scottish Widows Workplace Pensions Report for 2013 reveals the top three features employers expect to take into account are investment performance (highlighted by […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]


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