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

    The triple lock trick

    The triple lock trick

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    4 January 2017 Oldest and poorest pensioners are not protected properly by triple lock as it only protects two parts of State Pension Triple lock has kicked in for 2017/18 as earnings and prices rose by less than 2.5% but pensioners deserve proper protection, not just political gimmicks  Keeping triple lock in future gives more money to better off and younger pensioners  Healthier and wealthier pensioners get £200 a week State Pension by deferring while poorest and oldest get much…

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    A pension scandal ruining good people’s Christmas

    A pension scandal ruining good people’s Christmas

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    23 December 2016 Major pension scandal destroying people’s lives Family plumbing firms face financial ruin due to flawed pension laws but big firms walk away Good employers, who’ve paid their contributions properly into an industry-wide plumbers pension scheme, face personal bankruptcy by pension rules The law forces them to pay for pensions of thousands of workers who never worked for them – 400 employers saddled with debts for 4000 others Some are on the brink of nervous breakdowns or worse…

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    Tata Steel – what happens to the British Steel Pension Scheme?

    Tata Steel – what happens to the British Steel Pension Scheme?

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    7 December 2016 Common sense prevails at British Steel – jobs secured But not clear what will happen to British Steel’s 130,000 member pension scheme New pension scheme seems generous compared to average UK schemes nowadays But Tata says old British Steel scheme will be ‘de-risked’ and ‘de-linked’ – could mean going into the PPF or could mean standalone Ongoing negotiations with the Pensions Regulator likely and no details yet available  Saving jobs is so important for South Wales:  It…

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    Great news on Chancellor banning cold calling and protecting pensions better

    Great news on Chancellor banning cold calling and protecting pensions better

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    19 November 2016 Treasury set to ban pension cold calling in Autumn Statement Well done Philip Hammond – this is a great start to help clamp down on scams Clear signal for people that such calls are illegal so they should Just Hang Up or delete email Further measures to stop scam schemes setting up and clamp down on transfers also welcome We must do all we can to protect people’s precious pension savings and this is a positive step…

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    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

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    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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