pensionsandsavings.com

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

    • pensionsandsavings.com

    pensionsandsavings.com

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    Author: Ros Altmann

    Transferring Out Of ‘Guaranteed’ Employer Pensions Can Be A Good Idea

    Transferring Out Of ‘Guaranteed’ Employer Pensions Can Be A Good Idea

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    5 April 2017 Last night I attended an interesting event run by the Financial Times.  A large group of people came along to learn more about transferring out of Defined Benefit pension schemes. It was an interesting session.  I thought it might be helpful to outline my views on this issue, as the conventional thinking is not necessarily fully reflective of new realities.  This is not meant to be giving anybody financial advice, this is about highlighting the important issues…

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    Cridland State Pension Age Review

    Cridland State Pension Age Review

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    23 March 2017 Cridland Report emphasises importance of working longer but shies away from allowing early State Pension for those who can’t Summary of my views: Yes it is important to help people work longer, especially after Brexit Yes Government should end the triple lock which doesn’t protect oldest and poorest pensioners properly anyway Yes we must tell people about any increases to their State Pension age Yes adults caring for elderly relatives need more help  BUT I would go…

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    Budget Comments

    Budget Comments

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    8 March 2017 Another missed opportunity to start addressing social care No new incentives for social care savings and radical reform proposals pushed into Green Paper later this year No proper help for savers – new NS&I bond pays interest rate lower than inflation, so savers lose money Costs of public sector pensions will rise sharply, by nearly 40% between 2015 and 2020 Self employed bearing brunt of tax rises to pay for other measures Addressing Social care crisis: Extra…

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    Budget measures for social care

    Budget measures for social care

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    7 March 2017 Chancellor has chance to address one of biggest social issues of our time Britain has been sleepwalking into a social care crisis – time to wake up!  Elderly people who need care face wealth tax and stealth tax while others pay nothing More favourable fiscal position offers opportunity to radically reform unfair care system Integration and incentives long overdue – consider Care ISAs, employer care saving plans, auto-enrolment, eldercare vouchers, National Insurance   Dramatic unfairness in social…

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    Despite advances in equality, there’s still huge gender divide in pensions and care

    Despite advances in equality, there’s still huge gender divide in pensions and care

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    6 March 2017 International Women’s Day celebrates women’s progress but more to do Too many women still losing out in pensions relative to men National Insurance still penalises women – including in State Pensions Lower lifetime earnings leave women with lower private pensions too – older women particularly at risk Older women have achieved improved equality, pay and maternity rights for today’s younger women:  As we celebrate International Women’s Day on March 8th, spare a thought for current cohorts of…

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    Brilliant News – BHS Deal Helps 19,000 Members Get Better Pensions

    Brilliant News – BHS Deal Helps 19,000 Members Get Better Pensions

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    28 February 2017 Well done to the Pensions Regulator – £360m deal to support BHS scheme Members will get much more than PPF while Sir Philip pays up for future pensions Regulator has worked hard to secure good structure for the deal as well as significant extra funding I am delighted that the Pensions Regulator has managed to agree a deal with Sir Philip Green that secures over £360m for the BHS pension scheme and takes members back out of…

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    State Pension Age and Triple Lock

    State Pension Age and Triple Lock

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    28 February 2017 Triple lock will lead to extra unfair rises in State Pension Age  Work and Pensions Select Committee is right to call for earnings and inflation link instead of triple lock  Continually raising State Pension age disadvantages vulnerable older people  Politicians hide behind triple lock but it does not protect pensioners properly anyway  Keeping triple lock in future gives more money to better off and younger pensioners Raising State Pension Age disadvantages vulnerable groups: Raising the state pension…

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    Defined benefit pension schemes Green Paper

    Defined benefit pension schemes Green Paper

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    20 February 2017 DWP seems rather complacent about sustainability of UK Defined Benefit pension schemes Nearly 90% of schemes are closed and Government needs proper planning for members in future years Burdens of Defined Benefit schemes will increasingly put younger workers’ pensions and jobs at risk Using annuity costs as a yardstick is unreasonable, unaffordable and unsustainable for most schemes Complacency based on short-term view: The DWP has today produced its long awaited Green Paper on the affordability of Defined…

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    Help people use pensions and savings to fund social care

    Help people use pensions and savings to fund social care

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    8 February 2017 Care crisis is worse than pensions crisis – but pensions and savings could help fund social care Many baby boomers have pensions and ISAs but no incentive to retain money for care Chancellor’s Budget could consider tax-free pension withdrawals and IHT-free ISAs for care savings Such incentives would let people know they need to prepare for care costs   Have to get real about the scale of care challenge – need combination of public funding, national insurance,…

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    Lower immigration post-Brexit makes retaining older workers more vital than ever

    Lower immigration post-Brexit makes retaining older workers more vital than ever

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    5 February 2017 Wake-up call to business to use home-grown skills and experience of older workers Over 50s women need specific help as they’ve been badly disadvantaged Rethinking retirement can increase economic activity and national income short-term and long-term 3’R’s vital to rethinking retirement – ‘Retain’, ‘Retrain’ and ‘Recruit’ more over 50s In March 2015 I produced a Report as Business Champion of Older workers explaining the benefits of encouraging and enabling more people to work longer if they wish…

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