pensionsandsavings.com

  • PENSIONSANDSAVINGS.COM

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

    • pensionsandsavings.com

    pensionsandsavings.com

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    Author: Ros Altmann

    Sensible decision to leave State Pension Age timetable unchanged for now

    Sensible decision to leave State Pension Age timetable unchanged for now

    Comments 3 comments

    Leaving State Pension Age alone for now is the right decision.    Accelerating Sstate Pension Age rises would be wrong when life expectancy increases have slowed or possibly reversed and huge differentials in healthy life expectancy remain.    Retirement support should not be determined just by chronological age – health, length of National Insurance record and income could be included.    Early access to Pension Credit would be another way to avoid rising old age poverty.  Welcome News: I am…

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    Lifetime Allowance was a sledgehammer to pensions and Budget changes aren’t just to help top 1%

    Lifetime Allowance was a sledgehammer to pensions and Budget changes aren’t just to help top 1%

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    Lifetime Allowance was an unnecessary pension sledgehammer which damaged investment and employment  – if you already have brakes, you don’t need a brick wall to stop the car.    Shame to see pensions become a political football being kicked around with hob-nailed boots – threats to reintroduce it will accelerate exodus of vital NHS and worsen health backlogs.  Scrapping Lifetime Allowance isn’t just for the top 1% – it was always an illogicality that hurt DC pensions by punishing investment…

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    Budget Reaction – good news day for pensions at last

    Budget Reaction – good news day for pensions at last

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    BUDGET 2023 – It’s good news day for pensions! Chancellor takes brilliant bold decision to abolish Lifetime Allowance altogether. At last a move that is likely to benefit pensions, reduce complexity and increase employment. Abolishing Lifetime Allowance and raising Annual Allowance can facilitate more pension assets being invested to boost growth.   Government pays over £40billion a year into people’s pensions, so makes sense to use some for growth-boosting infrastructure, social housing, net zero and nature preservation investment. A new era…

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    Getting more over 50s into work

    Getting more over 50s into work

    Comments 0 Comment

    If Chancellor wants to encourage more over 50s to keep working, he must address health issues rather than just pensions or benefits.  Facilitating part-time or flexible working and improving NHS health outcomes are crucial elements to increase labour force participation of older people.  Today’s employment figures show over 50s want to work but are not well enough.  Five million over 50s may not be able to work full time into their 60s so higher pension allowances or tighter benefit sanctions…

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    Government should require all UK pension funds to support UK growth

    Government should require all UK pension funds to support UK growth

    Comments 1 comment

    UK Pension Funds should support green growth, infrastructure, climate and nature protection.  At least 25% of each pension is funded by taxpayers, which could justify requiring allocations to domestic long-term growth projects.  UK pension funds have slashed their exposure to equities, especially in the UK, but diversification to higher return assets is overdue. Until late 1990s, pension funds relied on high equity allocations: Actuaries and regulators used to assume that equity investment was the most appropriate asset class for long…

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    Budget changes to pension tax allowances

    Budget changes to pension tax allowances

    Comments 2 comments

    Great to hear that the Chancellor is planning to finally increase pension tax allowances.   Chancellor should abolish the ludicrously complicated Tapered Annual Allowance.   and increase the limits for Annual Allowance and Lifetime Allowance.   Current tax rules have turned a tremendous workplace benefit into a workplace penalty – driving early retirement and reduced working hours for many senior staff in the NHS I hope the rumours of changes to pensions tax allowances in the Budget will prove correct: Pensions are…

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    Positive messaging could stop people opting out of pensions

    Positive messaging could stop people opting out of pensions

    Comments 1 comment

    Is the pensions industry in danger of undermining auto-enrolment by failing to explain the many advantages of pensions? People need to know about the positives, not constant negative messaging, so they understand the free money they will have and higher benefit payments they could have if they keep paying in.  Since 2012, Government policy has brought millions more people into pensions, but providers have not managed to engage or enthuse their new customers with positive pension messages.  Extra money from…

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    The Autumn Statement – good to see inflation protection and triple lock promises honoured

    The Autumn Statement – good to see inflation protection and triple lock promises honoured

    Comments 26 comments

    Delighted to see Chancellor keeping the State Pension triple lock promise. Ensuring State Pensions and Pension Credit rise by 10.1% cpi for next year is the right decision.  I also welcome the inflation protection for all other benefits as inflation has soared.   Today’s fiscal statement will come as a big relief to millions of worried pensioners.  It is great to see that the Chancellor has decided to honour past commitments to uprate State Pensions in line with September’s 10.1%…

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    Inflation increases for State Pension must be guaranteed right now – no more delay

    Inflation increases for State Pension must be guaranteed right now – no more delay

    Comments 6 comments

    Government must reassure pensioners immediately, right here, right now, that their inflation protection is guaranteed, no more uncertainty! It should be unthinkable to betray pensioners a second year running during a cost of living crisis.    Millions of pensioners are fearful and furious that their meagre state pension may yet again fall behind inflation and this is affecting their mental health.    Of course 21st Century Britain can afford inflation increases for the lowest State Pension in the developed world…

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    Billions of pounds of pension money is languishing unclaimed – millions of pots are lost, which could be like buried treasure worth thousands of pounds for each person

    Billions of pounds of pension money is languishing unclaimed – millions of pots are lost, which could be like buried treasure worth thousands of pounds for each person

    Comments 0 Comment

    The ‘Great Pension Treasure Hunt’ – find your old pensions.  National Pension Tracing Day is this Sunday 30 October.  Nearly 3 million unclaimed pension pots could be worth well over £20billion waiting to be found. National Pension Tracing Day – Sunday 30th October – aims to reunite people with their lost pensions to help them enjoy a better retirement. Many Britons are unaware they may have thousands of pounds that could help them boost their retirement funds as they battle…

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