• PENSIONSANDSAVINGS.COM

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

  • pensionsandsavings.com

    Browsed by
    Category: Pensions

    Further thoughts on Winter Fuel Payment withdrawal

    Further thoughts on Winter Fuel Payment withdrawal

    Trying to increase pension credit take up will overload DWP capability and claims will not be handled in time for November: The drive to increase take up won’t work and will still leave millions out.   With hundreds of thousands of pensioners potentially eligible for Pension Credit but not yet claiming and perhaps up to 2 million more with incomes only a little above the threshold who might now try to apply and find themselves rejected, it is inevitable that…

    Read More Read More

    More thoughts on Winter Fuel Payment withdrawal – where is the impact assessment?

    More thoughts on Winter Fuel Payment withdrawal – where is the impact assessment?

    BALANCING THE NATION’S BOOKS ON THE BACKS OF LOW INCOME PENSIONERS IS THE WRONG POLITICAL CHOICE – A PROPER IMPACT ASSESSMENT IS NEEDED. Pensioners may take the Government line – ‘I can’t afford heating so I can’t turn it on’, putting them at risk of illness and increasing pressure on health and care services. Proper detailed review needed – targeting the poorest with means-testing is impossible and the cliff-edge leaves those just above the threshold much poorer than others who…

    Read More Read More

    Don’t scrap winter fuel payment this year – Tax it, Don’t Axe it – there are better, fairer ways to save money

    Don’t scrap winter fuel payment this year – Tax it, Don’t Axe it – there are better, fairer ways to save money

    TAX IT, DON’T AXE IT – ALTERNATIVE POLICIES FOR PENSIONERS’ WINTER FUEL PAYMENT.     Three alternative policies to consider: Roll the payment into State Pension and tax it. Increase the £13 a year over 80’s Age Addition to £313 a year and recoup some in tax. Only take it away from higher rate tax pensioners, similar to Child Benefit restriction.   At least keep it for this year to give pensioners time to prepare: The shock announcement that pensioners’ Winter…

    Read More Read More

    Axing winter fuel payments makes a mockery of promising to protect the triple lock – it’s a 2.5% – 3% cut in State Pension!

    Axing winter fuel payments makes a mockery of promising to protect the triple lock – it’s a 2.5% – 3% cut in State Pension!

    Axing Winter Fuel Payments is worse than scrapping the triple lock – it’s a 3% cut in Basic State Pension – this should be rethought.  Pensioners were already losing the cost of living bonus, removing Winter Fuel Payments so suddenly, as energy bills may start rising again, is a double blow.  Relying on means-testing creates a cruel cliff-edge that leaves low income pensioners just above the threshold, thousands of pounds a year worse off. Worse than losing the triple lock…

    Read More Read More

    Millions more pensioners paying tax

    Millions more pensioners paying tax

    Number of pensioners liable for tax will double since 2010 from 4.5million to over 9million. Worrying figures suggest cost-of-living rises and frozen tax thresholds will drag millions more pensioners into tax net. As the new State Pension climbs above 90% of the personal tax threshold, more pensioners may be hit with tax penalties. Government must recognise distress this will cause to more pensioners and consider addressing this by proper liaison between DWP and HMRC to work out any tax, notify…

    Read More Read More

    Parliamentary Ombudsman asks Parliament to recommend remedy for WASPI women

    Parliamentary Ombudsman asks Parliament to recommend remedy for WASPI women

    Parliamentary Ombudsman asks Parliament to recommend remedy for WASPI women. He does not believe the DWP will accept his recommendations and challenges Parliament to urgently address the issue. Report calls for DWP to finally acknowledge and apologise for its manifest failings. And set up a scheme for recompense urgently, especially to help those clearly suffering hardship. The Parliamentary Ombudsman’s long-awaited report into Government handling of increases in women’s State Pension age is finally out. It is damning. It highlights clear…

    Read More Read More

    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…

    Read More Read More

    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…

    Read More Read More

    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…

    Read More Read More

    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…

    Read More Read More

    Page 2 of 23
    1 2 3 4 23