• PENSIONSANDSAVINGS.COM

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

  • pensionsandsavings.com

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    Category: Pensions

    Equal State Pension ages but no pension equality for women

    Equal State Pension ages but no pension equality for women

    Men and women’s State Pension age will be equalised tomorrow 6 November 2018. But equal State Pension age does not mean pension equalit.   Ten reasons women lose out in pensions as gender pensions gap remains wide. Tuesday November 6th is the day men and women’s pension ages are equalised:  After decades of difference, when women received their state pension at age 60, while men had to wait till age 65, tomorrow sees the historic date when women and men…

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    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…

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    High Court ruling on GMPs

    High Court ruling on GMPs

    Court ruling about pensions equalisation could take years and cost billions to implement. Equal pensions are important but complexity of UK rules and poor data records will mean difficulties for pension schemes. GMP pension problems highlight how vital it is to have accurate pension records – trustees and Regulators must demand auto-enrolment scheme data are checked and corrected. A High Court ruling today about pensions could have enormous ramifications for most final salary-type pension schemes. As with all things related…

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    Low earners being forced to pay 25% too much for their pensions – how many scandals can pensions take?

    Low earners being forced to pay 25% too much for their pensions – how many scandals can pensions take?

    Industry representatives call for Budget changes to end scandal of low earners being over-charged by 25% for their pensions. Letter to the Chancellor asking him to ensure lowest paid workers treated fairly in pensions. This scandal could derail confidence in auto-enrolment as more people – mostly women – lose more money in pensions. Government and Pensions Regulator have been warned for years but haven’t sorted it – it’s time to act! There is a major scandal in auto-enrolment pensions which…

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    Landmark ECJ ruling says PPF cap is unlawful

    Landmark ECJ ruling says PPF cap is unlawful

    European Court recommends better protection for workers’ pensions. Landmark ECJ ruling finds PPF cap unlawful – workers must not lose over half their pension. Small number of people affected, but hugely important to each one of them. PPF (and FAS) compensation will improve, but 1% impact on funding shouldn’t affect PPF levy. Nobody should lose more than half their pension: A landmark ruling from the ECJ today has confirmed that the protection of UK workers’ pensions is inadequate. Pension Protection…

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    Needs more than an advertising campaign to protect people from pensions cold calling

    Needs more than an advertising campaign to protect people from pensions cold calling

    Campaign to improve ‘awareness’ of cold-calling is not enough to protect the public. Relying on people checking FCA registers or reporting scams will not stop the cold-callers! Financial Regulators must ban pension firms from using leads from cold-calling. New ‘ScamSmart’ awareness campaign is welcome, but inadequate: The Pensions Regulator and Financial Conduct Authority (FCA) have launched an important public information campaign, warning about the dangers of falling for pension cold-calls. Such ‘awareness’ campaigns are welcome, but will not end the…

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    Pensions are far better than Lifetime ISAs – Treasury Committee is right to recommend abolition

    Pensions are far better than Lifetime ISAs – Treasury Committee is right to recommend abolition

    Treasury Select Committee is right to recommend abolition of Lifetime ISA. Also right to suggest abolition of pensions Lifetime Allowance. Just have limit on annual contributions without penalising investment success. Lifetime ISA is unhelpful and confusing: I welcome the Treasury Select Committee’s recommendation to abolish the Lifetime ISA (LISA). (link here: https://publications.parliament.uk/pa/cm201719/cmselect/cmtreasy/565/56510.htm ) The LISA is a hybrid product that can be used to save for house purchase or for later life. These two aims should be kept separate, rather…

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    Vital pension and retirement policies delayed – perhaps casualties of Brexit

    Vital pension and retirement policies delayed – perhaps casualties of Brexit

    As Parliament breaks for the Summer, there are vital issues left in abeyance. Preparing for later life is essential in our aging population, but policies are on hold. Delays in dealing with social care funding leave a worsening care crisis all around us. Pensions Dashboard, cold-calling ban and ensuring low earners aren’t overcharged have all been delayed, despite the urgency. Over the past year, Ministers have promised a raft of measures designed to help people build up better pensions, improve…

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    Pension Dashboard problems could be solved with the right technology

    Pension Dashboard problems could be solved with the right technology

    Ros Altmann to Chair pensionsync – a ‘hidden gem’ pensions fintech firm. As Government backs away from Pensions Dashboard, partly due to costs and data unreliability, new technology, developed by private sector can revolutionise auto-enrolment administration. Automating pension contributions saves time, saves money, improves accuracy and enhances GDPR compliance, giving people cheaper pensions for the future. Some day all pensions should be done this way! I am delighted to announce my appointment as Chair of award-winning fintech specialist pensionsync –…

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    Pensions cold-calling ban delayed again – despite the urgency

    Pensions cold-calling ban delayed again – despite the urgency

    The much-promised pensions cold-calling ban, legislated for a few months ago and promised to come into effect by end June, is not ready on time. The Regulations required to implement the ban have not been laid, so the timetable will not be met. The need for a ban is widely recognised. The sooner cold-calling for pensions is outlawed, the sooner people will be better protected against being scammed and losing their life savings. So many people have already suffered from…

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