Turner mulls over pooled outsourcing for N.I.

clock

Adair Turner has approached the Investment Management Association (IMA) to examine cost-effective ways in which National Insurance contributions might be pooled and put towards a pension.

Richard Saunders, chief executive at the IMA, says the trade body has also been in discussion with the Department of Work and Pensions (DWP)and the Treasury over such a model, which is similarly used in Sweden and Chile, while New Zealand is also moving in that direction. Saunders points out over the past twenty years, the UK has gradually moved from a State flat-rate system to one of means-testing, while many other countries have moved in the opposite direction. The IMA believes the UK needs to move back to a flat-rate state system, however, it says the government is concerned about th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers no longer see inflation as a major concern

Advisers no longer see inflation as a major concern

Funds offering a level of inflation protection were the last research, Square Mile finds

Isabel Baxter
clock 22 October 2024 • 4 min read
Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read
Examining the 60/40: Building diversified portfolios in 2023

Examining the 60/40: Building diversified portfolios in 2023

Advisers have a lot to consider when it comes to portfolio diversification

Charlotte Moore
clock 14 April 2023 • 6 min read