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Unions press Govt to bring in compulsion

Trade unions are flexing their muscles in an attempt to convince the Government over the issue of compulsory pension contributions, said Minister for Work Nick Brown.

Brown, addressing a fringe meeting at the Labour annual conference, admitted that the unions are applying considerable pressure on the Government to look at introducing compulsion.

He said he believes the debate over compulsion will be included in the Government&#39s Green Paper on pensions which is expected to be published in November.

Unions, such as Amicus-AEEU, agree that the issue of compulsion is one of the most important facing the Government and say it has to accept that the time has come to introduce compulsion.

Brown said: “I expect the Chancellor will look very closely at what should be compulsory, voluntary or what should have tax privileges.”

Amicus-AEEU head of research Julian Richards says: “Amicus is in favour of compulsion on a couple of levels – compulsory membership for employees and compulsory contribution levels from employers. It is in the Government&#39s interest to compel employees to join schemes on offer in the workplace.”


&#39Tax rewards if you take out PMI&#39

The Conservatives will encourage people to take out private medical insurance and reward those who do through tax breaks, according to Shadow Secretary of State for Health Dr Liam Fox.Speaking at the party&#39s annual conference in Bournemouth, Fox said that in a sensible system, people would be encouraged to go private as it takes the […]

Pickering attacks industry Nimps who resist change

The tax-free lump sum on pensions must not be a sacred cow blocking the route to radical reform, warned Alan Pickering in a blistering attack on the pensions establishment last week.Describing pension professionals resisting change as Nimps – Not In My Pension Scheme – Pickering told delegates at the Pensions Management Institute annual conference in […]

SVM goes continental

SVM Asset Management has introduced the continental Europe fund, an Oeic that aims for capital growth by investing mainly in European large caps. The fund is benchmarked against the FTSE World Europe ex UK index and despite the focus on large caps, the portfolio will also include mid-caps that appear to have high growth potential. […]


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