• PENSIONSANDSAVINGS.COM

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

  • pensionsandsavings.com

    Browsed by
    Category: Monetary and Fiscal Policy

    Huge Gender Pensions Gap – International Women’s Day is a chance to highlight need for action on women’s pensions

    Huge Gender Pensions Gap – International Women’s Day is a chance to highlight need for action on women’s pensions

    Gender Pensions Gap much worse than Gender Pay Gap. Women lose out in both State and Private pensions because of their social role. Budget could fix pension system cracks that women are falling through. Let’s close gender pensions gap and encourage women to take responsibility for their pensions. Ahead of International Women’s Day, I thought it might be timely to write about the shocking gap between men and women’s pensions, which still exists in 21st Century Britain. Women are the…

    Read More Read More

    Pensions tax relief changes – legacy of Gordon Brown’s pension raid should be a warning to the new Chancellor

    Pensions tax relief changes – legacy of Gordon Brown’s pension raid should be a warning to the new Chancellor

    Removing higher rate tax relief from pensions is a lose-lose proposition which helps nobody and hurts millions.  Reforming pension incentives is enormously complicated and Treasury should beware of unintended consequences. Recent changes to Pension Allowances designed to reduce pension tax relief for higher earners  fuelled an NHS crisis, showing the dangers of chasing political headlines and short-term cost saving. Government should not be undermining saving incentives when debt is already at record levels.  Any reform of tax relief should improve…

    Read More Read More

    Bank of England must not cut rates this week

    Bank of England must not cut rates this week

    Latest forward-looking indicators are positive so using pre-election economic weakness to justify rate reductions makes no sense . Who will benefit from lower interest rates anyway? Mortgages may be cheaper but house prices and rents may rise, and banks have not passed on rate reductions to consumers. Higher credit card and overdraft rates and more consumers using buy now pay later schemes are weakening household finances. Apparently there is talk of the Bank of England deciding to reduce interest rates…

    Read More Read More

    Govt commitment to reform NHS pensions may pave the way for radical pension tax relief reform too

    Govt commitment to reform NHS pensions may pave the way for radical pension tax relief reform too

    Could Government commitment to sort out NHS pensions herald radical pension reform?  NHS problems are canary in the coalmine showing need to urgently change pensions tax rules.  Tapered Annual Allowance and Lifetime Allowance should be changed or abolished.  Reforming the £50billion annual cost of pensions tax reliefs (which gives top earners most help) could raise much-needed revenue AND improve pension outcomes. Reforms that could introduce new one-nation pension incentives and also save money include: Give everyone the same top-up to…

    Read More Read More

    Conservative Election Manifesto pension policies are worth highlighting

    Conservative Election Manifesto pension policies are worth highlighting

    At last, recognition of injustice for lowest earners, mainly women, forced to pay 25% extra for their pensions in auto-enrolment. Deal with NHS pensions crisis in 30 days – which hopefully will herald radical overhaul of annual and lifetime allowance problems for all. Revival of Pensions Bill quickly for Pensions Dashboard and better Regulator powers. Encourage pension funds to increase long-term investment in scientific development. But more to do on State Pension problems. After this weekend’s bombshell announcement by Labour…

    Read More Read More

    Progressive reform agenda to improve quality of life for older citizens, especially women

    Progressive reform agenda to improve quality of life for older citizens, especially women

    Here are some thoughts about urgent policy proposals to improve the fairness of the National Insurance system for women and for the aging population. Top 5 policy recommendations:    Extend triple lock to Pension Credit for oldest, poorest pensioners. Allow early access to State Pension for ill-health, long service or carers. Recognise WASPI concerns and address hardship caused by increased state pension age. Remove National Insurance loopholes that cause women to lose State Pension credits. Offer free personal social care…

    Read More Read More

    Proposals to allow pension withdrawals for house purchase are dangerous

    Proposals to allow pension withdrawals for house purchase are dangerous

    Encouraging younger savers to spend their pensions before retirement runs huge risks. Confusing shorter-term cash savings for house deposit with long-term investing for pensions will damage retirement prospects for many. People need pensions to supplement very low State Pension in retirement. More money for house deposits may be popular short-term but could just raise house prices further – boosting demand without expanding supply of homes for sale is not a solution. Don’t muddle pensions with house-buying: Policy proposals suggesting people…

    Read More Read More

    QE is 10 years old – have the side-effects been driving populist anger, Brexit and Trump?

    QE is 10 years old – have the side-effects been driving populist anger, Brexit and Trump?

    Ten years since QE started – has this ‘emergency monetary experiment’ contributed to Brexit, rising populism and anti-capitalism?    QE benefits Governments, banks and wealthiest in society and disadvantages younger and less well-off groups.  Central Bank policies may have operated as disguised fiscal policy without democratic accountability. QE started ten years ago as an emergency monetary experiment: When the Bank of England (BoE) introduced ‘quantitative easing’, in the teeth of the financial crisis ten years ago, the policy was supposed…

    Read More Read More

    Brexit and a Second Referendum

    Brexit and a Second Referendum

    A mis-selling scandal – not pensions this time, but Brexit! Referendum campaign misrepresented the impacts of leaving the EU – so people should have the right to change their mind. Misleading customers is against the law in most sectors but politicians are not held accountable. We are told the 2016 Referendum was the biggest exercise in democracy this country has ever seen. Really? If democracy is all about deliberate deception, dishonesty and political spin, then the Referendum was certainly a…

    Read More Read More

    Budget 2018 – my first thoughts

    Budget 2018 – my first thoughts

    Chancellor plays it safe – sensible reforms to boost growth and some nice surprises. Glad to see no big changes on pensions. Increase in personal tax threshold to £12,500 will boost auto-enrolment in April 2019 when worker contributions double. But yet another missed opportunity to find money for social care. So there we have it.  The last Budget before Brexit, cleverly crafted to ensure measures will please as many groups as possible who might have been tempted to vote it…

    Read More Read More

    Page 2 of 5
    1 2 3 4 5