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

    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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    Clarifying my Thoughts on State Pension Uprating for the Long-Term

    Clarifying my Thoughts on State Pension Uprating for the Long-Term

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    1 August 2016 My comments about the future of state pension uprating have certainly caused widespread debate. Unfortunately, they have also been grossly misrepresented.  I am sad about this because it has caused unnecessary upset to many pensioners and that would never be my intention. People don’t expect someone to comment on pensions policy with a long-term perspective: I don’t know if the mis-reporting has been because of a desire to have catchy, controversial headlines, but I think it is…

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    Triple lock for state pensions could move to a double lock

    Triple lock for state pensions could move to a double lock

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    30 July 2016 Taking the politics out of pensions policy could start with the Triple Lock We must protect pensioner incomes – but a ‘double lock’ is better long-term policy Committing to a double lock could reduce need to keep raising state pension age Totemic political signals can prove difficult to undo but good policy needs courage It is vital that the UK Government protects pensioner incomes and ensures pensioners are treated fairly.  It is also essential that the State…

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    The BHS Pension Scheme – a Q & A

    The BHS Pension Scheme – a Q & A

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    25 July 2016 BHS could have obtained Clearance from Pensions Regulator before selling the company with its massive pension deficit Employers must not treat pension liabilities as optional – they have people’s lives attached Pensions Regulator has power to force previous owners to pay huge sums The Select Committees’ Report on the collapse of BHS makes distressing reading.  The whole sorry saga has highlighted poor practices by many of the parties involved, but we must not forget that it is…

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    Pension Protection Fund Cap

    Pension Protection Fund Cap

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    20 July 2016 Government must stop denying fairer pension compensation to long-serving staff of failed firms Regulations are ready and DWP should lay them immediately Further delay in increasing Pension Protection Fund cap is a major injustice to those affected Small numbers of people but to each one this is hugely important   No justification for further Government delays to Regulations for loyal, long-serving pensioners: It is very disappointing that the DWP has failed to lay the Regulations that will…

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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 farewell blog…

    My farewell blog…

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      As most readers of this blog will know by now, I have been appointed Minister for Pensions in David Cameron’s new government. Having spent so many years studying pensions, savings and retirement policy as an independent expert, I have the chance of working inside government to drive things forward.  It will certainly keep me busy and be a great new challenge. Recent years have seen sweeping changes to our pensions system, changes which have started to move pensions in…

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    Pension Freedom Day is great news for pensions – here’s what you need to know

    Pension Freedom Day is great news for pensions – here’s what you need to know

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    6th April 2015 Pension freedom is great news for pensions – new rules make them more user-friendly, now industry needs to help customers benefit from the changes Don’t be in a rush to take money out of a pension and suffer the tax consequences I believe most people will be responsible with their money, I trust people Pension Wise is there to help – make sure you use it 030 0330 1001 From today, April 6th 2015, the rules governing…

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    Pension jargon explained for April Fools Day

    Pension jargon explained for April Fools Day

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    With grateful thanks to Simon Grover of ‘quietroomtweets’ for his April Fool take on pension jargon – hope you enjoy it. Source is here: http://quietroom.co.uk/general/fool2015/ With less than a week to go before the new ‘pension freedoms’ take effect, a Government body is today announcing a new tool to help explain the changes.  A Pensions-Related Information Lexicon is the latest publication from the Financial Office Of Language (FOOL), a quango that brings together experts from the world of business communications to…

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