I have to report that I am having terrible trouble with my owner. She constantly paces the floor, despairing of the situation in the Middle East and the increased price of fuel. It seems set to affect every part of life, including the transportation of food. I am also worried. Is it likely that there may be a scarcity of my special cat treats?
The worried frown on her face continues. For months she has been muttering about the increased risk to the retirement savings of approximately 22 million scheme members. Apparently, a number of pension providers have signed up to the Mansion House Accord, which was proposed as a voluntary agreement to invest at least 10% of the capital invested in their workplace pension default funds in unlisted securities. She was concerned that this proposal would increase the risk to individuals’ retirement savings and potentially lead to lower returns. If that was not bad enough, she has now learned that Clause 40 of the Pension Schemes Bill, if passed, would grant the government the mandate to enforce the Accord. The trade bodies, Pensions UK and the ABI, have called for the clause to be cut from the legislation. Let’s hope this happens. Until then, I fear her blood pressure will continue to be high.