• PENSIONSANDSAVINGS.COM

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

  • pensionsandsavings.com

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    Category: Pensions

    Work and Pensions Select Committee call for better consumer protection

    Work and Pensions Select Committee call for better consumer protection

    11 December 2017 Work and Pensions Select Committee presses Government for action to ban cold-calling House of Lords has paved the way for MPs to improve consumer protection Must not miss this chance to ban cold-calling and offer automatic free guidance before pensions transfers, to protect people’s pensions against scams or fraud The Work and Pensions Select Committee is calling on the Government to urgently improve protection for people’s pensions. This is absolutely right. Too many people are losing their…

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    Rise in Pensioner Poverty shows triple lock faults

    Rise in Pensioner Poverty shows triple lock faults

    4 December 2017 Rise in pensioner poverty deeply concerning Poorest pensioners falling behind because triple lock doesn’t protect Pension Credit More older women in poverty as they have lower state and private pensions than men Recent reductions in pensioner poverty are going into reverse: Figures released today by the Joseph Rowntree Trust point to a worrying rise in poverty among both children and pensioners. Pensioner poverty has reduced significantly in recent years, but this trend seems to have gone into…

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    Government facing Lords defeat tomorrow over refusal to protect consumers

    Government facing Lords defeat tomorrow over refusal to protect consumers

    23 October 2017 Government faces Lords defeat tomorrow over refusal to protect financial consumers Hard to understand why Ministers are resisting changes that have widespread support Policy needs action not words – let’s not miss this opportunity to introduce cold-calling ban Cross-party amendments to Financial Guidance and Claims Bill call for: Ban on cold-calling for pensions Mandatory guidance for pension savers before transferring money out Breathing space to protect people with huge debts (vital as interest rates set to rise)…

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    Government too complacent on final salary schemes

    Government too complacent on final salary schemes

    27 September 2017 Three million pension scheme members have no more than 50/50 chance of getting their pensions ‘Superfunds’ could ease pension pressures before more employers become insolvent As Brexit economic and political uncertainty worsens, final salary pensions are more at risk No room for complacency as closed schemes will need better ways to manage liabilities: Britain’s Defined Benefit (DB) final-salary type pension schemes are under unprecedented pressure. So far, the Government has been rather complacent about the risks, but…

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    One pension provider looking after low earners

    One pension provider looking after low earners

    13 September 2017 Government failing to recognise problem of low earners losing out in auto-enrolment Companies using Net Pay schemes are not treating low earners fairly Many low paid women are being forced to pay 25% more than they should for their pension One pension provider is taking the moral high ground – Now:Pensions is paying these workers their tax relief I am delighted to see that Now:Pensions has confirmed it will give its low-paid customers the tax relief that…

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    Finally, a ban on pensions cold calling

    Finally, a ban on pensions cold calling

    20 August 2017 WELL DONE TO THE GOVERNMENT FOR DECISION TO BAN PENSIONS COLD CALLING AT LAST Great to see DWP will act, not just keep consulting Protecting people’s pensions from fraudsters is so important Can give clear message to the public that anyone who contacts them out of the blue about their pensions is a criminal This issue has clear cross-party and industry support Banning cold calls and tightening protection against transfers to fraud schemes: The Government has bowed…

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    Women’s state pension age rises – IFS research

    Women’s state pension age rises – IFS research

    2 August 2017 Controlling State Pension costs is right but 1 in 5 women affected pushed into poverty IFS research shows rising State Pension age saves billions but leaves many in hardship Working age benefits are not enough to support women unable to keep working Government failure to properly inform women could justify helping some bridge the gap Government is right to look to control the costs of state pensions: Clearly, in an aging population, with rising longevity and pay-as-you-go…

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    State Pension Age and Social Care

    State Pension Age and Social Care

    21 July 2017 Government needs to rethink the retirement contract for older people Just relying on the triple lock and rising State Pension age is not sustainable National Insurance needs to help those with lower life expectancy or needing social care The Government has just announced that the UK State Pension age will increase faster than previously expected. By 2039, nobody will be able to start their state pension before the age of 68. This affects people born between 1970…

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    Who will help sort out this auto-enrolment pension scandal?

    Who will help sort out this auto-enrolment pension scandal?

    21 July 2017 Who will help sort out this auto-enrolment pension scandal? Low earners losing money but don’t know it yet I want to highlight a major pensions injustice concerning employers who choose an auto-enrolment scheme administered on a net pay basis. Such schemes cannot add the 25 per cent bonus of tax relief to contributions of workers earning less than £11,500 a year from the employer. Auto-enrolling these employees – mostly women – into a net pay scheme forces…

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    Pension Schemes forced to stop discriminating against same-sex partners

    Pension Schemes forced to stop discriminating against same-sex partners

    12 July 2017 UK pension funds cannot discriminate against same sex partners Landmark ruling rightly requires pension schemes to treat all partners equally Costs could run to hundreds of millions of pounds The Supreme Court has ruled that same-sex partnerships must be fairly and properly recognised within UK pension schemes. In a landmark ruling, ( INNOSPEC VS. WALKER) the judges ruled that a pension scheme member who is married to a same sex partner must be treated the same as…

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