• PENSIONSANDSAVINGS.COM

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

  • pensionsandsavings.com

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    Category: Pensions

    12 reasons why raising State Pension Age to 71 should be unconscionable

    12 reasons why raising State Pension Age to 71 should be unconscionable

    12 reasons why raising State Pension Age to 71 by 2040, suggested by today’s ILC Report, is unconscionable and favours well-pensioned higher income groups.  Anyone in their early-fifties and younger would be caught by this proposal – plunging more into poverty in later life. Only the top 10% of the UK population stay healthy to their early 70s. Cutting costs by making unwell workers wait longer, favours the well-pensioned higher paid. The State Pension is part of every worker’s social…

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    My comments on new DB Funding Code for occupational pensions

    My comments on new DB Funding Code for occupational pensions

    NEW DB FUNDING CODE MOVES AWAY FROM RECKLESS CONSERVATISM. Big improvement on previous proposals which would have driven most schemes into supposedly low-risk bonds, while giving up on long-term investment returns. Regulations are published at last after six years but new Regulatory Guidance is still not ready – schemes need it urgently to prepare ahead of September 2024 start. The new code may help some scheme trustees back more productive finance but the delays have meant fewer schemes will do…

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    Pension Regulator guidance for unlisted investments adds huge risk, doesn’t support the UK and ignores smaller listed companies

    Pension Regulator guidance for unlisted investments adds huge risk, doesn’t support the UK and ignores smaller listed companies

    Pensions Regulator’s new guidance, encouraging pension funds to invest 5% in unlisted assets, adds significant risk, and ignores the value in listed UK equities which are only 4% of many pension portfolios. Unlocking pension capital to support UK growth and businesses is right, but the Mansion House reforms don’t require any of the £70billion taxpayer pension reliefs to be invested in the UK. To really boost Britain, pension funds should buy more listed companies, including ready-made UK-listed investment trusts portfolios…

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    Some good news for pensioners but plenty more needed to ensure pension assets do more to boost British growth

    Some good news for pensioners but plenty more needed to ensure pension assets do more to boost British growth

    Some good news for pensioners but plenty more needed to ensure pension assets do more to boost British growth. State Pension Triple-Lock: Very good news that the uncertainty for pensioners is over. The Chancellor has confirmed the full 8.5% ‘triple lock’ earnings uprating promise for next year’s State Pension. It would have been very wrong to remove pensioner protection again, after breaking that Manifesto Commitment two years ago. Millions of pensioners (especially women) rely on their State Pensions to make…

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    Stop treating pensioners as political footballs and let’s have a proper review of long-term pensioner spending

    Stop treating pensioners as political footballs and let’s have a proper review of long-term pensioner spending

    Threatening to remove Winter Fuel Payments continues treating pensioners as political footballs and is no way to control public spending. Politicians should agree on a national cross-party review of future State Pensions and other support for older people.   Constant threats to cut parts of pensioner support and focus on more means-testing unsettles millions of pensioners with little or no income other than State Pension and benefits. Tinkering with parts of the system will not address cost control or inter-generational concerns.  …

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    Auto-enrolment Bill becomes law – better pensions for low earners and the young

    Auto-enrolment Bill becomes law – better pensions for low earners and the young

    MORE PENSIONS FOR LOW EARNERS AND YOUNG WORKERS AS LORDS PASSES AUTO-ENROLMENT EXTENSION BILL INTO LAW.    Improves coverage and adequacy of workplace pensions as next step in success of auto-enrolment.    Consultation and regulations will follow to provide much larger pensions for lower earners and ensure workers under age 22 will be auto-enrolled.   The Extension of Auto-enrolment (No.2) Bill passed into Law in the House of Lords yesterday. It is an important next step in the success of workplace…

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    Tomorrow’s earnings data could mean State Pension rises by 8% next year – but that’s not the fault of the triple lock

    Tomorrow’s earnings data could mean State Pension rises by 8% next year – but that’s not the fault of the triple lock

    Earnings inflation figures released tomorrow likely to indicate 8% rise in State Pension.    This will reflect the need to protect State Pensions, not the triple lock itself.    Chancellor is right to hint that it’s time to review state pension protection – just sticking with current triple lock does not give pensioners the reassurance they need.    Current ‘triple lock’ increases only two bits of State Pensions – but poorest pensioners are excluded and youngest get more protection. Earnings…

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    It’s time to reform the triple lock – but glad Government will protect pensioners again next year as cost of living crisis continues

    It’s time to reform the triple lock – but glad Government will protect pensioners again next year as cost of living crisis continues

    Glad to see the Government committing to protect the State Pension for next year as many pensioners continue to battle cost of living crisis. But the real decision is not about ‘triple lock’ as the 2.5% is irrelevant – it’s a double lock that’s important. It’s important for millions of pensioners especially women relying wholly on State Pensions, to have their meagre State Pension safeguarded. Government is right to commit to protecting pensioners again next year: In the middle of…

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    Cost-cutting can be achieved without State Pension cuts or raising State Pension Age

    Cost-cutting can be achieved without State Pension cuts or raising State Pension Age

    Of course, with an aging population and high inflation, the costs of state pensions will rise, but that should not be a shock!  Of course Britain can afford to pay its State Pensions, this is a political choice of priorities. The UK has one of the lowest State Pensions in the OECD while most EU countries pay far more.  Cost-cutting need not mean attacking the core pension, raising State Pension Age or mass means-testing.  Increasing the number of years for…

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    Extending pension auto-enrolment to more young people, women and low earners

    Extending pension auto-enrolment to more young people, women and low earners

    More pensions for low earners and young workers as auto-enrolment extension bill goes through house of lords. The legislation will ensure Government moves auto-enrolment to next stage, improving coverage and adequacy of workplace pensions. This is designed to pave the way for all workers under age 22 to be auto-enrolled and provide much larger pensions for lower earners. On Friday, the Extension of Auto-enrolment (No.2) Bill received its Second Reading in the House of Lords and should become law in…

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