Pensions, Retirement and Old Age

Age Canada Old Pension One of America's leading investment banks, Morgan Stanley, has outraged US unions by telling clients to pull their money out of heavily unionized industries.

Gordon Brown has renamed the DTI the Department for Business, Enterprise and Regulatory Reform (DBERR) to reflect its focus on the reduction of red tape and a commitment to entrepreneurship. 2006 Older employees plan to keep on working Older employees are increasingly willing to work on past the traditional retirement age, according to a new survey. called 'baby boomers' have told Heydey, profit organisation set up by Age Concern, they want to work past the state pension age.

Funds Pension "Look for the union label - and run the other way," the analysts say in a research note circulated to north American clients last Thursday.

"Requiring compulsory contributions from businesses will hit small firms disproportionately and will be seen as another tax on them." Lord Turner led a commission on pensions for the government which published its findings last November, calling for the retirement age to be raised from 65 to 69. The report also called for the establishment of a national pensions savings scheme, a proposal which the FTSE Group today claimed could produce "massive distortions" in the FTSE 100 index.

Hancock John Pension Describing pension plans as "toxic" for shareholders, the analysts argue that union firms are more likely to provide retirement and healthcare benefits that could eat into corporate profits.

77% of voters from the Royal Mail's Communication Workers Union (CWU) are in support of a national postal workers' strike. ridden Brits to save is to be revealed by the shadow work and pensions secretary Sir Malcolm Rifkind. The new bill, called "Rights for Savers", proposes the creation of a new lifetime Savings and Retirement Account (Sara); cost, term savings account, involving normal pension tax breaks but which enables cash to be withdrawn at predetermined stages during a lifetime.

Pension Widow "Rigidity in labor costs, processes and pension requirements, while perhaps beneficial to employees, may prove toxic to shareholders," the note says.

But Morgan Stanley has yet to reply. Mr Bufton sent two letters of complaint because he could not understand why his application was being ignored, especially as Morgan Stanley had actively sought his business.

Fund Pension Union leaders reacted furiously, accusing Morgan Stanley of giving irresponsible advice to investors.

Some retired taxpayers receive a retirement pension or annuity, often paid in installments. But in most cases this retirement benefit does not escape taxation. In addition, quarterly tax payments may be due if withholding is not taken out of the monthly benefit. For more on this topic, please review Annuities and Pension Plan Installment Payments.

Investment Pension In a letter to the bank, John Sweeney, the president of the AFL/CIO labor federation, said Morgan Stanley appeared to be "attacking the fundamental structures of fairness in our economy".

Canadian Pension Plan Pointing to the collapse of anti-union companies like Enron, WorldCom and Tyco, once the darlings of Wall Street, Mr Sweeney said analysts had failed to tell investors to sell these companies until it was too late to salvage anything from the "tech wreck".

Department Pension Work "It is hard to resist the conclusion that the same biases about what constitutes successful employee relations underlie both your analysts' enthusiasm for Enron, WorldCom and Tyco, and their hostility to union workers and their employers."

Ibm Pension In a separate note sent on Monday, the report's authors did an apparent u-turn, saying they were not anti-union, and that while heavily unionized industries have "meaningfully underperformed the market, we are explicitly not in a position to cite unionization per se as a cause of this performance".

Benefit Corporation Guaranty Morgan Stanley declined to comment: "We have heard from Mr Sweeney and we look forward to talking to him to address his concerns," a spokeswoman said.

Calculator Pension Duncan Green from the lobby group Just Pensions, which puts pressure on the City to invest responsibly, said the bank was advising investors to contravene international labor laws.

Government Pension "If these analysts lose their jobs as a result of their half-baked advice, I hope they don't go running to the union to defend them," he said.

Pension Prague Guardian Newspapers Limited 2002

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