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

    Pensions and savings revolution! My wishlist comes true

    Pensions and savings revolution! My wishlist comes true

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    19 March 2014 Unbelievable news – pensions and savings revolution So much of what I’ve been calling for is suddenly happening – exciting or what? Pensions and ISAs more flexible, limits more generous – a Tory votewinner After so many years of waiting for good news, suddenly so much comes at once.  Like the proverbial Number 13 buses, a whole raft of policies has all come at once – and they are good news. It’s also a brilliant Budget for Tory election prospects of…

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    Budget wishlist for pensions and savings

    Budget wishlist for pensions and savings

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    17 March 2014 A Budget wishlist for pensions and savings Exempt savings interest from tax for two years Or allow full ISA allowance in cash Allow small pension funds to be taken as cash Relax restrictions in capped drawdown to allow for ill-health Introduce new incentives to save for long-term care – ISA savings set aside for care could pass on free of inheritance tax if not spent Stop meddling with pension rules What might the Chancellor do to address the…

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    Polish pension confiscation – a threat to funded private pensions or a one-off?

    Polish pension confiscation – a threat to funded private pensions or a one-off?

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    Pensions pole-axed with hardly any fuss! Polish Government transfers long-term private pension assets to help short-term public finances As former Finance Minister denounces pre-funding of pensions as too ‘costly’ is this a fundamental challenge to all funded pensions and what safeguards could help? The Polish government’s confiscation of private pension assets has gone ahead almost unnoticed. Eur36 billion of Polish Treasury bonds held by Poland’s second pillar of mandatory private sector pension funds (called OFE), comprising more than half the assets…

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    Pension charges – don’t be lulled into a false sense of security

    Pension charges – don’t be lulled into a false sense of security

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    18 February 2014 DWP report on pension charges shows importance of introducing a cap Workers in small firms need protecting from rising charges as small funds pay higher fees Labour TER cap for new schemes makes sense but don’t set too low initially NEST reforms needed – and AMDs should be banned Summary DWP report on pension charges shows large schemes have lowest charges As auto-enrolment spreads to smaller firms, their workers need protecting from high fees Labour is right that…

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    Pensions crisis is even worse for women than men

    Pensions crisis is even worse for women than men

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    24 January 2014 TPAS report shows pensions crisis is worse for women than men Women are second class citizens when it comes to pensions Women in their late 50s or older have lost out most in both state and private pensions Many women do not yet know their state pension age is rising – Government needs to inform women urgently about state pension changes Women lose out most in both state and private pensions:  The Pensions Advisory Service (TPAS) Survey,…

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    Rising pressure for proper pension reform – Money Mail joins calls for fairer pensions

    Rising pressure for proper pension reform – Money Mail joins calls for fairer pensions

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    22 January 2014 Pressure for pension reform really building up A great chance for consumers to get better value pensions Policymakers and the pensions industry need to wake up to the problems and act now Today, the Daily Mail’s Money Mail has begun a campaign for better and fairer pensions. The pressure on the pensions industry is building up as another national newspaper launches a manifesto for change that would ensure far better value for customers.   http://www.thisismoney.co.uk/money/pensions/article-2543615/5-radical-steps-stop-great-pensions-rip-off.html?ICO=most_read_module How long can…

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    Pension charge caps

    Pension charge caps

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    17 January 2014 Steve Webb is right to delay introduction of charge cap – 2014 was too soon Cap new scheme charges to protect smaller firms’ workers but leave legacy schemes till after 2018 – and reform NEST charges to allow proper comparison Capping annuity charges is far more important anyway! Sensible decision to delay charge cap:  It is good to see that Steve Webb has decided to delay introducing a cap on the charges paid by workers in auto-enrolment pension schemes. …

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    Pensioner benefits – don’t axe them, tax them

    Pensioner benefits – don’t axe them, tax them

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    6 January 2014 Pensioner benefits – Don’t axe them, tax them Consider changing the age of entitlement, rather than means-testing  Pensioner benefits becoming a political football:  The furore over pensioner ‘benefits’ is hotting up.  As the number of UK citizens reaching state pension age soars, the cost of paying National Insurance pensions was always bound to rise.  There is a political backlash against pensioner payments, but it is important to consider this issue carefully.  Rather than using pensions as a…

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    Rising state pension age is not a penalty on the young

    Rising state pension age is not a penalty on the young

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    5 December 2013 Rising state pension age is not a penalty on the young – it’s an opportunity to embrace a new type of retirement  Retirement needs to change – it is not an aspiration to live on a state pension for over 30 years! There is much angst this morning about the Chancellor’s suggestion of increasing state pension ages for younger generations.  Quite frankly, the concerns seem based on out of date ideas about the nature of state pensions and retirement. …

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    Pension fund charges – important issues

    Pension fund charges – important issues

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    28 November 2013 Pension fund charges – don’t get obsessed with lowering charges too far, too fast Difference between 0.5% and 0.75% AMC equates to about 5% of final pension fund over 46 years – People lose far more than this when buying poor annuities which have no controls at all Cap new scheme charges to protect smaller firms but leave legacy schemes till after 2018 – and reform NEST charges to allow proper comparison As the Government’s consultation on pension scheme…

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