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

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    Category: Savers and Savings Policy

    The pensions revolution – what does it mean?

    The pensions revolution – what does it mean?

    30 September 2014 So many people have been asking me about the new pension changes and what they might mean, I have put together a quick Q&A to address some of these with my comments.  Hope you find it of interest.  There are profound implications for pension products and pension savers – as well as for regulators of course, to make sure people understand what this all means for them. If in good health, perhaps you shouldn’t buy an annuity…

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    Do we need a Lifetime ISA now that pensions coverage is set to rise?

    Do we need a Lifetime ISA now that pensions coverage is set to rise?

    Lifetime ISA might have been useful in the past but is not necessary now Pensions auto-enrolment and flexibility will increase pension coverage New ‘Lifetime ISA’ product proposed, to replace pensions and ISAs:  The Centre for Policy Studies is calling for a new savings approach – the Lifetime ISA – to be introduced in the UK.  This would replace the separate ISA and pension systems we currently have.  The idea is unveiled in this paper http://www.cps.org.uk/publications/reports/introducing-the-lifetime-isa/?utm_source=Michael+Johnson+contacts&utm_campaign=1f6f756838-FTT_chown_lawson&utm_medium=email&utm_term=0_d781b4fd08-1f6f756838-303592833 by Michael Johnson, whose ideas…

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    Budget ISA moves – ISA savings for care

    Budget ISA moves – ISA savings for care

    21 March 2014 Nicer ISA savings – what could be NISA! And how about a Care ISA? As the dust starts to settle a little following the sudden Budget improvements to Individual Savings Accounts (ISA) rules, I thought it might be helpful to note down some more thoughts.  Wouldn’t it be great if the new found freedoms could be used to help fund social care. An ISA tax free savings account, designated to pay for care costs, could help with the…

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    Pensions and savings revolution! My wishlist comes true

    Pensions and savings revolution! My wishlist comes true

    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

    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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    Prolonging the party – who wants rates to rise?

    Prolonging the party – who wants rates to rise?

    31 January 2014 Bank of England statistics confirm bonanza for mortgage holders Mortgage borrowers may be £3,300a year better off and savers over £4000pa worse off Low rates are huge help for mortgagees – no wonder so many don’t want rates to rise Analysing the Bank of England’s statistics on interest rates in mortgage and savings markets since 2007 shows fascinating results.  The extent of income gains for mortgage borrowers is startling and the losses for savers are significant.  Those…

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    A wake-up call to embrace benefits of saving and working longer

    A wake-up call to embrace benefits of saving and working longer

    17 December 2013 IFS study is a wake-up call to embrace benefits of saving and working longer Headlines of younger generations being much worse off than previous generations are too negative IFS shows younger cohorts were much better off earlier in their lives but spent rather than saved – as economy picks up they can rethink their lives IFS report shows lower incomes for younger generations partly result from failure to save:  Today’s IFS report has led to dire warnings that…

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    What’s happened to savers? Chancellor please take note

    What’s happened to savers? Chancellor please take note

    3 December 2013   David Cameron said, before the last election: ‘We need to make a really big change: from an economy built on debt to an economy built on savings’ Yet BofE figures show largest fall in long-term savings since 1970s Short-sighted policy encouraging spending now instead of saving for tomorrow is dangerous for all of us Chancellor should recognise importance of savers for long-term growth in his Autumn Statement People taking money out of long-term savings: Analysis of…

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    Well done Mr. Carney ….

    Well done Mr. Carney ….

    28 November 2013 … for focussing Funding for Lending on business loans – which is what it should always have done. At long last some relief in sight for savers? The Bank of England’s announcement today that the Funding for Lending scheme will only be available for business lending, not mortgage lending, is fantastic news. At long last, there seems to be a recognition that there are real dangers of a housing bubble based on unsustainably cheap mortgages and that…

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    Private pensions have become politicians’ piggy banks

    Private pensions have become politicians’ piggy banks

    Here is my article in today’s CityAM http://www.cityam.com/article/1378855577/private-pensions-have-become-piggy-bank-spendthrift-states?utm_source=website&utm_medium=TD_opinion_right_col&utm_campaign=TD_opinion_right_col FIVE years after the collapse of Lehman Brothers, and the fallout from the financial crisis is far from over. Across Europe, private pensions have become a targets for politicians seeking to reduce the pressure to rein in spending and manage excessive debt after the crisis. While governments are encouraging or forcing citizens to participate in private pension schemes – with the aim of improving retirement incomes – they have not been able…

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