pensionsandsavings.com

  • PENSIONSANDSAVINGS.COM

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

    • pensionsandsavings.com

    pensionsandsavings.com

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    Category: Monetary and Fiscal Policy

    Autumn Statement has a bit of good news for savers

    Autumn Statement has a bit of good news for savers

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    23 November 2016 Autumn Statement is missed opportunity to address social care crisis State Pension triple lock seems under threat Chancellor confirms intention to ban pension cold calling The Chancellor’s Autumn Statement had no real surprises for pensions or savers.  There are some tweaks to pension rules, but the biggest disappointment for me is that there is no acknowledgement of the social care crisis.  The Chancellor started by saying the aim of his budget is to prepare and support the…

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    Pension consequences of QE could undermine policy intent

    Pension consequences of QE could undermine policy intent

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    4 August 2016 Further pain for UK pensions as QE worsens deficits and increases annuity costs Bank of England statement completely ignores pension impacts of its policies Estimates suggest deficits now approaching £1trillion – this cannot be sustainable Government needs to consider help for employers Today’s decision by the Bank of England to cut short-term interest rates and expand the QE programme is another blow for UK pensions.  Both defined benefit and defined contribution pensions have become more expensive as…

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    Social revolution underway as millions more over 50s keep working

    Social revolution underway as millions more over 50s keep working

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    28 July, 2016 Important new Statistical Series released today to track trends in later life working Massive increase in labour force participation for over 50s since the 1980s Older women show largest employment rise while proportion age 70-74 in work has doubled Rise in female participation pre-dates increase in state pension age There is a social revolution underway, which can benefit millions of people in the UK, which is seeing increasing numbers of over 50s stay in work, continuing to…

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    Pensions are too important to downgrade

    Pensions are too important to downgrade

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    18 July 2016 Potential dangers ahead for pensions if responsibility moves from DWP to Treasury Could be threats to auto-enrolment Must continue to address employer challenges in funding Defined Benefit schemes It would seem that the role of Pensions Minister is being downgraded by the new Government. What does that mean? At the moment, we just don’t know, however it could be that this poses threats to future pensions and we must be alert to the dangers.  Pensions are vital…

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    My warnings in 2006 about excess public spending – the irresponsibility was clear even then

    My warnings in 2006 about excess public spending – the irresponsibility was clear even then

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    It is simply incredible to deny that the Labour Government spent too much Failure to recognise or admit past over-spending is deeply worrying This is an article I wrote in 2006, exposing the excessive Government spending under Gordon Brown. It was clear to me even back then, and is still clear now, that the Government was spending far too much. I warned that this was the wrong policy, but it continued.   Ed Balls and Ed Milliband were in charge…

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    The most important election for decades – don’t gamble our future on policies that failed in the past

    The most important election for decades – don’t gamble our future on policies that failed in the past

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    30 April 2015 This is my honest assessment of the economic and political realities facing the UK Having given my views on finance and economics for years, I am writing this blog to set out some thoughts on the upcoming election.   I have previously voted Labour and LibDem and each party has some excellent politicians, but the current economic and political realities lead me to conclude that the future of the country I love is at risk if the Conservatives…

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    A Savings Revolution to follow the Pensions Revolution

    A Savings Revolution to follow the Pensions Revolution

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    18 March 2015 We had the Pensions Revolution last year, now comes the Savings Revolution 95% of savers will pay no tax on their savings – will be popular 5m will be allowed to sell their annuity – that’s great news But cutting Lifetime Allowance for pensions is really bad policy Lifetime limit should only apply to DB, but abolished for DC So there we have it.  The last Budget before the General Election.  A mix of moves to please…

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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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    My comments on the Autumn statement

    My comments on the Autumn statement

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    3 December 2014 So what has happened in the Autumn statement? Summary No change to pensions tax relief but extra tax breaks for joint life annuities Levelling the playing field between annuities and drawdown inherited benefits New tax breaks for ISAs – will be inherited tax free between spouses Tax breaks for carers and careworkers Bigger rise in Pension Credit More generous means-testing calculation for pensioners with pension funds Promise of a pilot back-to-work scheme for older people on benefits…

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    Over 50s find it harder to get back into work as labour market improves

    Over 50s find it harder to get back into work as labour market improves

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    14th August 2014 Unemployment has fallen far less for over 50s than for younger workers as ageism in workplace remains Under the coalition, unemployment for 16-49 year-olds has fallen 19%, but only 5% for over 50s The latest ONS employment figures show that the UK unemployment rate has fallen far faster than previously expected and now stands at 6.4%, the lowest level since Q4 2008. The figures also show that, under the Coalition Government, rising numbers of older people are…

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