pensionsandsavings.com

  • PENSIONSANDSAVINGS.COM

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

    • pensionsandsavings.com

    pensionsandsavings.com

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    Category: Social Justice

    Cold call ban for all financial products – a welcome next step, still plenty more to do to protect consumers from fraud

    Cold call ban for all financial products – a welcome next step, still plenty more to do to protect consumers from fraud

    Comments 0 Comment

    About time too – Government moves closer to banning cold-calling for financial products. Plenty more to do – such as publicity drive telling people to hang up on cold-callers and simplifying the baffling array of anti-fraud agencies – FCA, ICO, Ofgem, Action Fraud, City of London Police… Consultation won’t stop the fraudsters, but this is a step in the right direction to protect the public from scams. Older people are more at risk of attempted fraud calls and are often…

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    Companies should take more responsibility for curbing price rises, especially after huge pandemic

    Companies should take more responsibility for curbing price rises, especially after huge pandemic

    Comments 0 Comment

    Time for businesses to take responsibility for helping overcome current inflation crisis. Chancellor is right to expect businesses to play their part in curbing price rises and margin expansion. After the massive amounts spent supporting businesses through Covid, there should be a recognition of their duty to society as economy looks for new normal. Corporate Social Responsibility should include behaving responsibly during current economic emergency which was partly caused by post-pandemic readjustments. The Chancellor has been speaking to businesses, urging…

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    The Autumn Statement – good to see inflation protection and triple lock promises honoured

    The Autumn Statement – good to see inflation protection and triple lock promises honoured

    Comments 26 comments

    Delighted to see Chancellor keeping the State Pension triple lock promise. Ensuring State Pensions and Pension Credit rise by 10.1% cpi for next year is the right decision.  I also welcome the inflation protection for all other benefits as inflation has soared.   Today’s fiscal statement will come as a big relief to millions of worried pensioners.  It is great to see that the Chancellor has decided to honour past commitments to uprate State Pensions in line with September’s 10.1%…

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    Inflation increases for State Pension must be guaranteed right now – no more delay

    Inflation increases for State Pension must be guaranteed right now – no more delay

    Comments 6 comments

    Government must reassure pensioners immediately, right here, right now, that their inflation protection is guaranteed, no more uncertainty! It should be unthinkable to betray pensioners a second year running during a cost of living crisis.    Millions of pensioners are fearful and furious that their meagre state pension may yet again fall behind inflation and this is affecting their mental health.    Of course 21st Century Britain can afford inflation increases for the lowest State Pension in the developed world…

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    State pension must rise with inflation next year, no more betrayals or uncertainties

    State pension must rise with inflation next year, no more betrayals or uncertainties

    Comments 0 Comment

    It should be unthinkable to betray pensioners a second year running during a cost of living crisis. Flip-flopping about protection for next year, after just 3.1% increase as inflation hits 10%, will create huge worries for millions of pensioners and undermines our social contract. Trust in Government would be lost if promises made in 2019, and confirmed recently by both the previous and present Prime Ministers, are broken – not all pensioners are well-off! Millions of pensioners rely on their…

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    Government must not betray pensioners again – millions live on far less than workers’ pay

    Government must not betray pensioners again – millions live on far less than workers’ pay

    Comments 5 comments

    State Pension inflation protection must be properly restored after broken promises this year, especially as all public sector workers and pensioners will get full cpi pension uprating.   Although public sector pay has not risen as much, public sector pension costs are around £50billion a year, a significant real terms deferred pay rise since 2010. UK State Pension increase was only 3.1% this year, despite earnings and prices rises rocketing twice as much, and UK State Pension is the lowest in…

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    Correcting State Pension underpayments may require DWP to bring in outside expertise

    Correcting State Pension underpayments may require DWP to bring in outside expertise

    Comments 0 Comment

    Government may need private sector experts to help correct State Pension underpayments before more of the women die. The complexity of the calculations mean people can’t work out their State Pension and are totally reliant on Government to pay the right amount. Over-80s and thousands of divorced women should also be urgently assessed to correct underpayments. Interest on arrears and compensation are required to address the injustice. The Public Accounts Committee has issued a damning report highlighting ongoing problems of…

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    State pension age review needs to consider more flexibility for those in poorest health as average life expectancy masks vast differentials across society

    State pension age review needs to consider more flexibility for those in poorest health as average life expectancy masks vast differentials across society

    Comments 2 comments

    State pension age review needs to consider flexibility to recognise vast differentials in healthy life expectancy.  Ever rising age disadvantages the poorest and least healthy as poorest Brits only stay healthy to around age 50, but wealthiest to age 70.  Wealthiest groups can get even higher pensions if they delay their pension age but poorest who are least likely to have private pensions, cannot get a penny early even after a 45 or 50 years National Insurance record.  Flexibility allowing…

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    Inflation at 5.1% is another blow to pensioners

    Inflation at 5.1% is another blow to pensioners

    Comments 2 comments

    Latest inflation numbers show State Pension rise of 3.1% will leave poorest pensioners struggling.  Pensioners have been stripped of the protection they were promised and many will struggle to afford heating.  The poorest pensioners have lost the earnings inflation protection for Pension Credit that was in law for around 20 years.  The latest inflation figures showing CPI inflation reached a two-year high of 5.1% last month, confirm again that the 3.1% increase for State Pensions is completely inadequate to protect…

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    Social care funding reform cannot be achieved equitably or sustainably with a National Insurance rise

    Social care funding reform cannot be achieved equitably or sustainably with a National Insurance rise

    Comments 1 comment

    Social care funding reform cannot be achieved equitably or sustainably with a National Insurance rise – and even worse if the extra money just goes to the NHS. Increasing National Insurance is socially inequitable for funding desperately needed social care improvements which were supposedly finalised in 2019, pre-pandemic. The lowest earners pay National Insurance of 12.8% on £3,000 more of their income than other taxpayers. NI starts around £180 a week, but tax only starts around £240 a week. Pensioners, pensions,…

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