Opinion 

Your Shout: Letters to the editor

Financial Adviser

Where does micro-managing end?

Regarding the article by Maria Espadinha, “Provider slams FCA analysis of fee disclosure” (July 1): So this ongoing cost-benefit analysis is going to make it easier for ‘members’ to see the actual break down of scheme costs and charges? How many workplace members ever look at or even understand their pensions? As far as most are concerned, workplace pensions are just another thing they have to pay into and at some distant point in time they will get a “fantastic pension” (in US President Donald Trump’s terminology). 

So what about the few who check out their scheme charges and do not like them, what are they going to do about it? Surely it is the employer who is the client of the providers, and the employer who chooses the scheme?

What is coming next? Will the employer be forced to regularly check out employee happiness with the scheme and then switch schemes?

Where does this micro-regulatory management/big brother mentality end?

Perhaps it does not. It is a new industry that creates its own market and devices for expanding itself.

Clive Fox
Retired IFA

 

Waspi campaign continues

I am one of the many 1950s women impacted by the rise in state pension age. I am very pleased to see that the firefighters and judges have won their battle against the unfair changes being forced on people by the government and hope that the judicial review brought by the 1950s women will find similar success.

I am so tired of reading that my state pension age has only increased by 18 months – this is simply fiction. I am now almost 64 and will not reach it until my 66th birthday. Even without using a computer I can work out that this is much more than 18 months.

We know that the Department for Work and Pensions held meetings over the years where they knew that the many 1950s women had no idea what was about to happen with our state pension age, yet they chose to do nothing to inform us. We should not be penalised for the total mis-management of the age increase. No other decade of people (including men) have had such a drastic change in pension age foisted on them with so little notice.

I started work full time in 1971 after leaving school I can assure you that there was no such thing as equality at work. In fact, when I queried why a male colleague was earning significantly more than me for the same job role I was told that my husband would top up my salary. 

We could not join most company pension schemes until the 1980s and many of us combined working with raising a family and caring for older relatives at the same time. We must have saved the government a fortune in care costs as unpaid carers alone.