Blunkett takes work and pensions - paper 9 May 2005

Standard Life’s UK chief executive Trevor Matthews says Blunkett should take “urgent action” to defuse the pensions time bomb, reports The Daily Telegraph Stating that the Stakeholder regime has failed, Matthews says the new secretary should instead look at the succeesses aparent in other areas, such as Sipps. Matthews says Standard Life drew in £500m in new money this way in the past six months, against £1.9bn over the entire industry through all of last year drawn into Stakeholder. Matthews says compulsion is not, however, the way forward – agreeing with the noises from Labour leade...