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    From Ros Altmann:economist and pensions,
    investment and retirement policy expert

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    Category: Pensions

    Pensioner benefits – don’t axe them, tax them

    Pensioner benefits – don’t axe them, tax them

    6 January 2014 Pensioner benefits – Don’t axe them, tax them Consider changing the age of entitlement, rather than means-testing  Pensioner benefits becoming a political football:  The furore over pensioner ‘benefits’ is hotting up.  As the number of UK citizens reaching state pension age soars, the cost of paying National Insurance pensions was always bound to rise.  There is a political backlash against pensioner payments, but it is important to consider this issue carefully.  Rather than using pensions as a…

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    Rising state pension age is not a penalty on the young

    Rising state pension age is not a penalty on the young

    5 December 2013 Rising state pension age is not a penalty on the young – it’s an opportunity to embrace a new type of retirement  Retirement needs to change – it is not an aspiration to live on a state pension for over 30 years! There is much angst this morning about the Chancellor’s suggestion of increasing state pension ages for younger generations.  Quite frankly, the concerns seem based on out of date ideas about the nature of state pensions and retirement. …

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    Pension fund charges – important issues

    Pension fund charges – important issues

    28 November 2013 Pension fund charges – don’t get obsessed with lowering charges too far, too fast Difference between 0.5% and 0.75% AMC equates to about 5% of final pension fund over 46 years – People lose far more than this when buying poor annuities which have no controls at all Cap new scheme charges to protect smaller firms but leave legacy schemes till after 2018 – and reform NEST charges to allow proper comparison As the Government’s consultation on pension scheme…

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    Defined Ambition Pensions

    Defined Ambition Pensions

    7 November 2013 Government trying to offset decline of Defined Benefit pensions with Defined Ambition DA aims to be a more flexible half-way house between DB and DC – but with hard guarantees Government trying to find ways to offset falling state pensions But guaranteed pensions in private sector are still risky – while public sector remains protected Demise of private sector final salary schemes reduces future private sector pensions:  The UK once had a private pension saving system that was the…

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    Don’t lecture universities on their pension scheme

    Don’t lecture universities on their pension scheme

    25 October 2013 Universities Pension Scheme scaremongering is overdone Classic example of damage to pensions from QE USS is not a closed scheme, so it is unfair to compare it with most other UK schemes Its funding position is being well managed and it should not be panicked by exceptional interest rate environment USS scare stories overdone:  Scare stories today about the black hole in the USS Pension Fund (Universities Superannuation Scheme) are overly negative.  This huge pension scheme, with…

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    Time for change: Make pensions fit for 21st Century retirement

    Time for change: Make pensions fit for 21st Century retirement

    14 October 2013 TIME FOR CHANGE:  Rethinking pensions and retirement Pension options not fit for the future as ‘low risk’ investments have become more risky and retirement becomes a process not an event Auto-enrolment pension funds not fit for the future:  Retirement is changing, pensions need to change too. As auto-enrolment ensures millions of people are about to start saving in pension schemes at work, it is important to make future pensions fit future lifestyles.  There is a real danger…

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    Private pensions have become politicians’ piggy banks

    Private pensions have become politicians’ piggy banks

    Here is my article in today’s CityAM http://www.cityam.com/article/1378855577/private-pensions-have-become-piggy-bank-spendthrift-states?utm_source=website&utm_medium=TD_opinion_right_col&utm_campaign=TD_opinion_right_col FIVE years after the collapse of Lehman Brothers, and the fallout from the financial crisis is far from over. Across Europe, private pensions have become a targets for politicians seeking to reduce the pressure to rein in spending and manage excessive debt after the crisis. While governments are encouraging or forcing citizens to participate in private pension schemes – with the aim of improving retirement incomes – they have not been able…

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    Pole-axed Pensions – politicians raiding pensions again

    Pole-axed Pensions – politicians raiding pensions again

    10 September 2014 Financial crisis fallout once again hits pensions Polish Government confiscates private pension assets to improve public finances  Politicians have found many ways to raid pension assets when times get tough I just thought I should put together a note following the sudden confiscation by the Polish government of all the bond holdings in Poland’s private sector pension funds last week.  It seems to  me that private pension savings are not safe in Europe and we need to…

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