Savers and Savings Policy – Page 3 – pensionsandsavings.com

Care ISAs: Over-60s have £300billion in ISAs which could help care funding crisis

August 19, 2018 Ros Altmann Comments 1 comment

Britain’s over-60s have more than £300billion in ISAs which could help solve the care crisis. Over 8million over 60s have £35,000-£40,000 in ISAs. £1trillion+ earmarked to pay future pensions but nothing for future care costs. Government’s should introduce incentives for Care ISA. Britain faces a funding crisis for elderly care with no money set aside for future care needs: The country cannot cope with the costs of caring for today’s elderly population as more than one million older people who…

Read More Read More

Pensions are far better than Lifetime ISAs – Treasury Committee is right to recommend abolition

July 26, 2018 Ros Altmann Comments 0 Comment

Treasury Select Committee is right to recommend abolition of Lifetime ISA. Also right to suggest abolition of pensions Lifetime Allowance. Just have limit on annual contributions without penalising investment success. Lifetime ISA is unhelpful and confusing: I welcome the Treasury Select Committee’s recommendation to abolish the Lifetime ISA (LISA). (link here: https://publications.parliament.uk/pa/cm201719/cmselect/cmtreasy/565/56510.htm ) The LISA is a hybrid product that can be used to save for house purchase or for later life. These two aims should be kept separate, rather…

Read More Read More

Loss of confidence in capitalism, economic policy and democracy

September 25, 2017 Ros Altmann Comments 0 Comment

25 September 2017 Based on my letter published in the Financial Times 22 September. Recent political events demonstrate disaffection with conventional politics. The votes for Brexit, Trump, Macron and far-right nationalists in Germany and other EU countries have been a shock to the established order. Questions are asked as to whether the sudden surge in populism represents a loss of confidence in capitalism, economic policy and democracy. Unconventional monetary policies may have played a role in the rise of populism…

Read More Read More

Election Manifesto for older voters – 6-point plan for reform

April 20, 2017 Ros Altmann Comments 11 comments

20 April 2017 Help poorer pensioners, older women and families facing elderly care Radical overhaul of social care to ensure fairer system for all – a crisis worse than pensions State Pension triple lock could move to a double lock, increasing by prices or earnings Double lock should apply to Pension Credit so poorest pensioners are protected properly Improve pension outcomes for women – private pensions, State Pensions and WASPI Reform pensions tax relief to give everyone a 33% Government…

Read More Read More

Lifetime ISA launch – BEWARE

April 5, 2017 Ros Altmann Comments 0 Comment

5 April 2017 Launch of Lifetime ISAs – don’t be fooled Hardly any providers offering LISAs – probably due to complexity and mis-selling risks Mixing house purchase and pensions will damage ISA brand LISAs may be good for first time buyers, but dreadful for retirement – saving for house deposit very different from long term investment for retirement Trying to turn pensions into ISAs undermines young people’s pension prospects Why not just improve the Help To Buy ISA and leave…

Read More Read More

Budget Comments

March 8, 2017 Ros Altmann Comments 1 comment

8 March 2017 Another missed opportunity to start addressing social care No new incentives for social care savings and radical reform proposals pushed into Green Paper later this year No proper help for savers – new NS&I bond pays interest rate lower than inflation, so savers lose money Costs of public sector pensions will rise sharply, by nearly 40% between 2015 and 2020 Self employed bearing brunt of tax rises to pay for other measures Addressing Social care crisis: Extra…

Read More Read More

Pensions are in mortal danger – beware

January 4, 2017 Ros Altmann Comments 1 comment

4 January 2017 UK private pensions are in mortal danger – their huge benefits seem under threat Anyone who cares about pensions should be very, very worried Latest Treasury info doesn’t mention pensions when educating the public about retirement saving Future generations face worse later life income if Treasury succeeds in undermining pensions ISAs are sub-optimal way to provide for later life and will saddle future Government with rising pensioner poverty – pushing more costs onto the young Now is…

Read More Read More

Is Government going to introduce saving incentives for social care?

December 14, 2016 Ros Altmann Comments 1 comment

14 December 2016 Jeremy Hunt is right we need for private savings to help fund care crisis There’s no one solution but private savings must be part of the mix Care costs much higher for older women than older men Government can introduce tax incentives to help families save for care costs Care ISAs, Workplace Saving Plans, Eldercare vouchers, Family Care Saving Plans free of Inheritance Tax Consider using auto-enrolment and free Guidance to kick-start care savings as part of…

Read More Read More

Autumn Statement has a bit of good news for savers

November 23, 2016 Ros Altmann Comments 0 Comment

23 November 2016 Autumn Statement is missed opportunity to address social care crisis State Pension triple lock seems under threat Chancellor confirms intention to ban pension cold calling The Chancellor’s Autumn Statement had no real surprises for pensions or savers. There are some tweaks to pension rules, but the biggest disappointment for me is that there is no acknowledgement of the social care crisis. The Chancellor started by saying the aim of his budget is to prepare and support the…

Read More Read More

Great news on Chancellor banning cold calling and protecting pensions better

November 19, 2016 Ros Altmann Comments 1 comment

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…

Read More Read More