Pension age leak suggests tax rise - papers 21 April

clock

Leaked papers suggest Labour would not raise the retirement age of those employed in local government, potentially heaping £1bn in extra costs on local councils in the next three years, reports The Daily Telegraph.

The decision to scrap the move towards a higher retirement age of 65 was taken by the Office of the Deputy Prime Minister John Prescott, the paper writes, and came after a deal to avert a 24-hour strike by local government employees ahead of the election. The details were contained in a memo sent to MPs by the ODPM in January, and were revealed by Channel 4 News, the paper says. The government denies the turnaround would lead to higher costs for councils, but the news comes just as the Tory party has unveiled its own election pledge to scrap revaluations of homes – which is likely to ...

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 uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •