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

    The Ten Vital Issues Pensions Guidance Must Cover

    The Ten Vital Issues Pensions Guidance Must Cover

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    The ten vital issues pensions Guidance must explain   The Government’s proposed free Pension Guidance service will have a huge impact on whether the entire reform programme of flexibility and choice for pensions actually works well.  Guidance is only a start, but an important start to ensuring people know what they need to consider when they are told they have reached their scheme pension age.  If the Guidance works well, it can ensure people are able to make sensible choices. …

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    Victory for common sense – People won’t be fined for not finding all their old pensions!

    Victory for common sense – People won’t be fined for not finding all their old pensions!

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    Government has listened to reason and dropped plans to force anyone taking money from their pension flexibly to notify every past pension scheme Proposals were unworkable, impractical and would have penalised the poorest pensioners Pensioners faced hefty fines for failing to find all past pensions within a month I’m delighted that the Government has changed  its plans that would have forced anyone taking more than their Tax Free Cash out of their pension fund after April 2015 to contact every…

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    Bank of England staff pensions immune from problems facing other workers

    Bank of England staff pensions immune from problems facing other workers

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    3 November 2014 Bank of England 2014 pension contributions are over 50% of salary Pension scheme only invests in UK bonds and offers generous pensions Members do not have to contribute, all costs met by Bank of England, even in auto-enrolment How many other employers could afford to contribute an extra 50% for their staff’s pensions? Latest figures show Bank of England pension scheme generosity:  In case you missed it, the Bank of England’s latest Financial Statement for its staff…

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    Auto-enrolment increases pension coverage but private sector, especially women, and self-employed lagging behind

    Auto-enrolment increases pension coverage but private sector, especially women, and self-employed lagging behind

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    30 October 2014 Pension scheme membership increases as auto-enrolment starts to have an impact First increase in pension scheme membership in private sector this century – but public sector workers remain the pensions aristocracy 2013 saw 200,000 extra public sector workers saving in pension compared with 100,000 more in private sector Still need to address low pension coverage for private sector women (only 30% contribute) and the self-employed (only 22%) New pension freedoms may start to increase self-employed interest in…

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    Whole new world for pensions

    Whole new world for pensions

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    14 October 2014 A giant challenge to the pensions industry – give customers the freedoms allowed by law Pensions can become like bank or building society accounts – take money when you need it This isn’t just for the wealthy, it gives everyone the same freedoms as wealthiest already had New pension system could help fund care needs Everyone to have choice about how to spend their pension savings:  The Government is today laying legislation in Parliament that will enable…

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    If retirement age rises we need to redefine retirement too

    If retirement age rises we need to redefine retirement too

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    7  October 2014 Later retirement is inevitable and can boost personal lifetime incomes as well as the economy Retirement ages now lower than 1950s – but 6 months a year rise can’t last long, only a catch-up If sustained, retirement age would be 80 over next 30 years! But need a whole new concept of retirement – phase of part-time work, not suddenly stopping DWP forecasts suggesting an increase in average retirement ages by 6 months a year can only…

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    The pensions revolution – what does it mean?

    The pensions revolution – what does it mean?

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    30 September 2014 So many people have been asking me about the new pension changes and what they might mean, I have put together a quick Q&A to address some of these with my comments.  Hope you find it of interest.  There are profound implications for pension products and pension savers – as well as for regulators of course, to make sure people understand what this all means for them. If in good health, perhaps you shouldn’t buy an annuity…

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    55% pension tax abolished – more good news for pensions

    55% pension tax abolished – more good news for pensions

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      28th September 2014 The good news on pensions just keeps on coming Chancellor abolishes draconian 55% pension death tax – no inheritance or income tax if funds passed on as pension Now pension savers will be able to leave all their funds tax-free to next generation Another nail in the coffin for annuities, but more money could be available for care Pensions to pass to next generation tax-free:  The Government has now announced the final piece of its pension…

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    Why are so many older workers rejecting free money?

    Why are so many older workers rejecting free money?

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    28th September 2014 Huge numbers of over 60s are opting out of pensions auto-enrolment, losing their employer contribution Budget pension reforms make pensions a no-brainer for most older workers as they can simply take the cash if they want to Need for financial education and advice greater than ever   Figures just released show that nearly all younger workers are remaining in their employer pension scheme‎ after being auto-enrolled, but many older people are opting to leave.   According to…

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    Stunning improvements in UK unemployment especially for the young – don’t ignore the over 50s

    Stunning improvements in UK unemployment especially for the young – don’t ignore the over 50s

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    17 September 2014 Over 50s are being left behind as policymakers focus on the young Older people also need special help to get back to work and overcome ageism Subsidised apprenticeships and retraining schemes can help Sharp fall in unemployment: The latest unemployment figures, just released by the ONS, show a continuing picture of rapidly falling unemployment.  This is great news, however the statistics also confirm that the over 50s continue to lag behind. Ageism in the workplace continues:  It…

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