pensionsandsavings.com

  • PENSIONSANDSAVINGS.COM

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

    • pensionsandsavings.com

    pensionsandsavings.com

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    Category: Pensions

    Chancellor should think again on Lifetime ISA before the next mis-selling scandal happens

    Chancellor should think again on Lifetime ISA before the next mis-selling scandal happens

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    14 November 2016 LIFETIME ISA TO BE NEXT BIG MIS-SELLING SCANDAL – CHANCELLOR MUST THINK AGAIN Providers beware – don’t sell this product carelessly, it could come back to bite you! FCA rules should require advice, suitability checks and risk warnings before providers sell this Pensions are best for retirement saving – right behavioural incentives to keep money for old age Lifetime ISA could snatch defeat from the jaws of victory as pension coverage rises Lifetime ISA won’t last a…

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    Triple lock state pensions

    Triple lock state pensions

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    6 November 2016 State Pension should move to a double lock from 2020 – 2.5% guaranteed rises make no sense Triple lock was introduced for political reasons but 2.5% inflates long-term costs  Double lock can protect pensioners properly against rises in earnings or prices  Must not increase means-testing of State Pension as that would undermine private saving The State Pension triple lock is promised until 2020 – after that, the law only requires earnings increases. However, because the triple lock…

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    BHS Pension Scheme

    BHS Pension Scheme

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    3 November 2016 COME ON SIR PHILIP, JUST KEEP TO YOUR WORD AND PAY UP WHAT IS NEEDED Pensions Regulator is right to pursue BHS owners on behalf of pension members You don’t tell the Regulator what you think is the right amount, the Regulator tells you! Two important BHS questions have not been answered: Why did Sir Philip not get Clearance before selling BHS? How did both he and Dominic Chappell believe the half billion pound pension debt was…

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    Pension Scams

    Pension Scams

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    31 October 2016 Nobody likes to hear about pensioners being mugged, or robbed of their life savings.  Unfortunately, thousands of older people have suffered such indignity at the hands of pension scammers.  It is time the Government took this issue seriously.  There are no easy answers, but a ban on cold-calling would certainly help. Most pension scams start with a cold call, someone phoning or emailing out of the blue, offering a free ‘pension review’ or an exciting investment opportunity…

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    Secondary Annuities Market – thousands will be disappointed

    Secondary Annuities Market – thousands will be disappointed

    Comments 7 comments

    18 October, 2016 Thousands Of People Will Feel Let Down By Government Decision To Abandon Secondary Annuity Market Major disappointment for thousands of people:  The Government’s decision not to proceed with its proposals to allow people to sell back their annuity income will come as a major disappointment to thousands of people.  Many have been waiting anxiously for the opportunity to undo the annuity they were forced to buy and will feel let down by today’s announcement that the secondary…

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    FCA study of annuity selling highlights worrying failings

    FCA study of annuity selling highlights worrying failings

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    14 October, 2016 FCA finds clear evidence of annuity mis-selling to customers in poor health but process of investigation and redress is painfully slow Seriously ill customers short-changed for the rest of their shortened life – need swift action Tens of thousands in line for redress At least one in three firms have failed customers and will have to compensate FCA findings welcome but customers need urgent action not still more reviews FCA findings from its investigation of whether annuity…

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    Cridland State Pension age independent review: interim report.

    Cridland State Pension age independent review: interim report.

    Comments 2 comments

    13 October, 2016 Here are my thoughts and comments on the Cridland State Pension age independent review: interim report. As Cridland considers the options, Government has a chance to make State Pension policy fairer Consider extending number of years for full pension, rather just than raising state pension age Current system gives higher state pension to people healthy or wealthy enough to wait and work longer, but often disadvantages those with longest working lives or poor health Continually increasing State…

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    Bank of England pension scheme shows dangers of QE

    Bank of England pension scheme shows dangers of QE

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    12 September 2016 Bank of England’s own pension scheme highlights the problems of QE Bank says QE should make gilt owners rebalance portfolios into riskier assets – but BofE pension scheme isn’t doing this QE may not work as pension funds and insurers are constrained from taking more risk As QE worsens pension deficits and has pushed contributions to ruinous levels – Bank of England scheme requires employer contributions over 50% of salary The Bank of England has recently published…

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    Government must tell people that State Pension age will be 66 soon

    Government must tell people that State Pension age will be 66 soon

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    11 September 2016 Government must make sure people know that by 2020 you won’t get your State Pension at 65 DWP should learn lessons from the failure to adequately inform women about past changes In four years’ time the State Pension Age will be 66 – DWP must publicise this properly By October 2020 the state pension age will be 66, so nobody reaching age 65 will get a state pension.  I am concerned that millions of men and women…

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    Ten reasons why investing in a pension fund can be better than investing in property

    Ten reasons why investing in a pension fund can be better than investing in property

    Comments 3 comments

    4 September 2016   PENSION PROPERTY 1 You get free money from employer – often a matching contribution to double your money No employer help with your property purchase 2 You get extra from tax relief – on top of an employer contribution can more than double your money No tax relief on money you use to buy property 3 No income tax to pay on income earned in a pension fund All rental income taxed 4 No capital gains…

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