CEO Monthly Oct

CEO MONTHLY / OCTOBER 2017 5 NEWS , deVere Group CEO Nigel Green’s warning comes as it is widely rumoured that Philip Hammond will reduce pension relief for older workers in his 22 November Budget in order to fund cutting National Insurance Contributions for workers in their 20s and 30s. Mr Green comments: “Unfortu- nately, this misguided measure seems like it is almost a certainty as the government looks to raise revenue in a slowing economy. “Following a less-than-desirable election, the Treasury will not be keen to increase VAT or income tax. Instead they can be expect- ed to go for pensions. This attack on people’s retirement nest eggs demonstrates once again that the British government, which needs to bolster its coffers, views peo- ple’s retirement savings as easy, low-hanging fruit to be plundered. “Raiding pensions has become something of a ‘no-brainer’ for successive UK governments as there’s plenty of funds within them, most of it belongs to the better-off section of society, and they get tax relief.’’ He continues: “This policy is fun- damentally flawed, short-sighted and counterproductive. CEO Warns That Hammond’s Reported Pension Tax Relief Cut Is ‘Fundamentally Flawed’ The Chancellor’s reported slashing pension tax relief for older workers is misguided, short-sighted and counterpro- ductive, warns the CEO of one of the world’s largest inde- pendent financial services organisations. TMG is building a global full-service mar- keting network that respects the individual cultures of each agen- cy that joins. By providing a support- ive platform for growth, and an agile management approach, TMG aims to provide a fresh alternative to the big holding companies: Independ- ent Spirit - Global scale. Each com- pany within the group provides spe- cialist marketing services brought together, within complimentary com- munities of practice, to form an inter- national network that can address a global market. The central team supports its subsidiaries through a lean and nimble structure that can respond quickly to change and pro- vide highly effective solutions for cli- ents. The Marketing Group is listed on Nasdaq First North, Stockholm. Discussing the new hire, Channel- zero CEO, Mikey Taylor, said: ‘’Belinda is a heavy-hitter in the marketing world and has a range of experience that really adds to the Channelzero brand. Having re- cently brought on board a number of high-profile clients that has seen the company go from strength to strength, Belinda joining the team is another piece of the jigsaw and we’re looking forward to seeing her skillset put into action.’’ On her appointment to Channelze- ro, Belinda said: ‘‘Channelzero has proven itself time again to be an agile and innovative place to work. Coupled with the tal- ent and experience of Mikey and the multi-disciplinary team, together with the scale and vision of TMG, we’re poised to take the agency to the next level and continue to deliver superior results for our clients.’’ Non-executive director of TMG, Glen Fraser added: “Having worked with Belinda at Euro RSCG, I know that through her leadership Channelzero is in safe hands. Belinda’s appointment represents further strengthening of TMG’s agency structure and we’re delighted she is part of the network.” TMG is a progressive marketing network that provides a fresh alter- native for global brands that want to see more bang for their buck. With offices across the East and West coast of America, London, Europe, Singapore and Australasia, TMG’s collaborative network of agencies provide a holistic service to deliver highly effective results. “There’s a serious savings gap and yet the government seems intent on reducing one of the key drivers that motivates people to save for their future retirement. The measure likely to be an- nounced by Mr Hammond will dis- courage a much-needed revival of a savings culture. “Now more than ever, saving should be incentivised as retire- ment planning increasingly be- comes a personal responsibility and as the country needs a finan- cially secure older population for its long-term sustainable econom- ic growth.” Mr Green goes on to say: “With the Chancellor likely to confirm the changes next month, the time for older earners to act is now should they wish to consider taking the existing tax relief while it lasts.” The deVere CEO concludes: “Whilst ‘intergenerational fairness’ is now finally being looked at, this measure of cutting pension tax relief for older workers is not the right way forward. Mr Hammond needs to go back to the drawing board and scrap this latest attack on pensions.”