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Women and carers to benefit from reform

A better deal for women and carers will underpin the Government’s pension reform agenda, says Work and Pensions Secretary John Hutton.

Speaking at a Fabian Society event, Hutton said the Pension White Paper will simplify the credit system to better reflect the way people contribute to society.

Hutton said the Government will target women aged 45 or over who have not benefited from home responsibilities protection. Carers will benefit from an extension and simplification of the current state entitlement.

But he said the Government could not advocate Lord Turner’s calls for a residency approach, claiming a contributory principle must be central to the reforms.

Hutton said: “Our proposals will be underpinned by a new deal for women that tackles the inequalities of a system that reflects an outdated view of family relationships, properly recognising the ways in which people contribute to our modern society.”

Scottish Widows head of pensions market development Ian Naismith said: “Any reforms must include a simple system that does not penalise those with career breaks.”


NS&I ad branded misleading

Aire Valley IFA Malcolm Guy has called on the FSA to intervene over a National Savings & Investments advertising campaign which he claims is misleading. Guy says the ad’s pledge that the NS&I guaranteed equity bond will “genuinely outperform any growth in the FTSE 100 index” should be removed. He says the final figure used […]

Traffic light system could help rate risk

Retail Financial Services Group chairman Richard Lambert has called for a traffic light system for financial products. Former monetary policy committee member Lambert told the Building Societies’ Association annual conference in Manchester last week that pressure must be put on the FSA to introduce a simple consumer risk warning system in conjunction with industry to […]

Close to grow fund admin and trust businesses

Close Private Bank is preparing for aggressive expansion of its fund administration and trust businesses.The newly appointed chief executive of the fiduciary division Stuart Dyer has recently taken over responsibility for Close’s fund and trust businesses in Jersey, Guernsey and the Isle of Man.Dyer joined from Cofunds where he was chief executive. Prior to this […]

The Investment Clock: Keep calm and Macron!

Trevor Greetham, Head of Multi Asset In a marked contrast to the surge in risk sentiment that followed President Trump’s election in November, markets greeted Emmanuel Macron’s victory in the French presidential election with satisfaction and relief, rather than euphoria. After rallying strongly on opinion polls that accurately predicted the outcome, the euro held onto […]


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