View more on these topics

Winterthur Life calls on Government to drop its opposition to ASP

Winterthur Life has called on the Government to drop its opposition to alternatively secured pensions.

Pensions strategy manager Mike Morrison says clients who wish to beneftit from ASP show little opposition to the idea of inheritance tax on ASP funds as an acceptable price to pay for the extra flexibility.

But if the Government, as has been inferred, limits the product to those who have a principled religious objection to annuities, confidence in the new regime and saving could be damaged.

It has been suggested that the post A-day option of ASP could be subject to a review to determine misuse.

Morrison says: “If the government now tampers with the new regime, by restricting ASP only to those with a ‘religious objection to annuitisation’ as it has been reported, it will damage confidence and could destroy what is becoming a real opportunity to encourage future contributions. How can they police people’s religious beliefs? And who is to say who has an objection to
annuity pooling? This is a ludicrous state of affairs and it may even be
subject to legal challenge. The idea that ASP could just be available for those
of particular religious beliefs is disingenuous – from my experience
people are attracted to ASP because of the flexibility and the perceived
poor value of annuities.”


Pension plan trustees get free e-leaning deal

The Pensions Regulator has created a new module with a free e-learning programme and virtual trustee tool for pension scheme trustees. The trustee toolkit is made up of a series of modules, each containing a number of scenarios in which the user plays the part of a newcomer to a fictitious trustee board. The scenarios […]

Whitmore to run Jupiter fund

Schroder recovery fund manager Ben Whitmore is joining Jupiter to run its UK special situations fund. He replaces Paul Sheehan who will continue to manage Jupiters Primadona investment trust. Schroders UK analyst Kevin Murphy and pan-European analyst Nick Kirrage jointly replace Whitmore.

PPI horror stories could scare off public

Paul Bradshaw has warned that the protection industry could suffer damage to its reputation because of horror stories over payment protection insurance. He said PPI firms that disregard treating customers fairly could have a damaging effect on the rest of the market and lead to consumer mistrust. Bradshaw believes regulation of the protection market has […]


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