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

    Older Workers Face Discrimination and Disadvantage in the Labour Market

    Older Workers Face Discrimination and Disadvantage in the Labour Market

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    11 March 2015 Overcoming barriers to later life working can boost prospects for old and young Government needs a strategy for adult skills, career reviews and must improve JobCentres Older workers are good for the economy, good for business and good for younger workers too My Business Champion for Older Workers Report, published today, explains the case for ensuring the over 50s can stay in employment if they want or need to. The Report ‘A New Vision for Older Workers…

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    Is cutting pensions tax relief the right way to tackle student debt?

    Is cutting pensions tax relief the right way to tackle student debt?

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    27th February 2015 Proposals to cut annual pension contributions limits make some sense but cutting lifetime limit makes it difficult to plan pensions properly  Still leaves public sector better off than typical private sector pension savers There are better ways to use pensions to help students with debt Damage pension confidence as rules keep changing: The proposals today to cut pensions tax relief in order to fund cuts in university tuition fees are likely to cause damage to pension confidence….

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    Pensioner Benefits

    Pensioner Benefits

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    24 February 2015 Protecting pensioner benefits is politically astute but also makes some sense for now Tinkering with the current package of benefits is not a solution – they could be taxed or paid from a later age, but the whole system should be rationalised A proper assessment of all later life support is needed – including social care If the Government just stops paying pensioner benefits such as Winter Fuel Payments or free TV licences, this would be the…

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    Older workers are essential for economic success

    Older workers are essential for economic success

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    22 February 2015 Having more over 50s in work is not a threat to younger people’s wages or employment – it is essential for economic progress Studies suggest more older people in employment improves employment and wages for the young In our ageing population, we should welcome higher employment levels for over 50s – if they shift to part-time that may depress average wages but is not a concern long-term Concerns about rising labour force participation by older workers being…

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    Care ISAs and incentives for care saving

    Care ISAs and incentives for care saving

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    2 February 2015 Government considering savings incentives for social care Possible ways to incentivise care saving schemes:  1. Care ISA   2. Tax free pension withdrawal   3. Care saving in auto-enrolment Could help millions of middle income families not just the well-off Government must tackle lack of care funding: Are Ministers finally waking up to the need to help people save to pay for social care? I do hope so. It seems they may be considering savings incentives, to help…

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    Great news: FCA will finally force firms to look after their pension customers

    Great news: FCA will finally force firms to look after their pension customers

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    26 January 2015 At last the regulator has bowed to pressure for second line of defence – essential in the new era of freedom and choice Providers must ask questions and give risk warnings before customers make irreversible pension decisions Fantastic news for customers:  I am so delighted that the FCA will finally force firms to take more care of their customers, asking vital questions and warning them about the risks of irreversible pension choices.  At last, pension providers will…

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    Social care crisis – urgent action needed

    Social care crisis – urgent action needed

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    20 January 2015 Action to address care crisis cannot wait any longer Elderly people are suffering due to council and care company cost-cutting All parts of the system are failing and Government has not yet offered solutions Tax incentives to help families save for care costs are needed as £72,000 cap is too high for affordable insurance Care ISAs, Family Care Plans and Workplace Savings free of Inheritance Tax Use auto-enrolment and new free Guidance to kick-start care savings There…

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    65+ Guaranteed Growth Bonds – Great news for pensioners from NS&I

    65+ Guaranteed Growth Bonds – Great news for pensioners from NS&I

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    15th January 2015   At last some good news for pensioners’ savings  NS&I 65+ Guaranteed Growth Bonds on sale from today – guaranteed by the Government  These are market-beating bonds with great interest rates and fully backed by the Treasury  Don’t panic, but if you’re over 65 and have money sitting in a savings account, the sooner you apply, the sooner it can earn more for you National Savings and Investments (NS&I) has this morning launched its long awaited new…

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    Pension understanding shockingly low – especially for older women

    Pension understanding shockingly low – especially for older women

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    14 January 2015 Survey reveals shocking lack of pensions knowledge especially among older women High proportion of pension savers have low levels of financial capability Freedom and choice won’t work if people don’t understand pensions Crucial role for ‘Pension wise’ guidance – supplemented by financial advice – to help at all ages Millions of older people – especially women – at risk of poor pensions: The shocking results of a new research report published today show that millions of people…

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    Nearly 5million over 50s intend to keep working past age 65 as later retirement becomes the norm

    Nearly 5million over 50s intend to keep working past age 65 as later retirement becomes the norm

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    13 January 2015 Latest Survey for Older Workers Champion shows a retirement revolution is well underway Nearly 5 million people intend to keep working beyond age 65 as later retirement becomes the norm Only 17% favour traditional retirement pattern as majority want to ease into retirement via part-time work first Employers need to increase emphasis on later life training and flexible working Millions of older people do not know that over 65s don’t pay national insurance Retirement is changing as…

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