• PENSIONSANDSAVINGS.COM

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

  • pensionsandsavings.com

    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

    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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    Campaign for Annuities Reform

    Campaign for Annuities Reform

    19 January 2014 Sunday Times calls for urgent action to address annuities market Please sign the petition to call for reform – You can sign here: https://www.formstack.com/forms/?1662003-GfcIepCLc4 More than 1000 people every day at risk of buying the wrong annuity and thousands of widows will lose out It’s great to see the Sunday Times running a campaign for annuities reform.  This huge market is not working well for its customers and reform is required quickly. Many people just buy the…

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    Pension charge caps

    Pension charge caps

    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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    THE ALTERNATIVE ANNUITY DIRECTORY – WHY IFAs ARE IMPORTANT

    THE ALTERNATIVE ANNUITY DIRECTORY – WHY IFAs ARE IMPORTANT

      14th January 2014 NEW WORDING FOR PICK-A TO DESCRIBE ADVICE AND GUIDANCE The following is the alternative text I have drawn up to more accurately reflect the value of seeking advice from a whole of market independent financial adviser.  It explains the benefits of using an IFA but does also point out that those with small funds may not find advice cost-effective.  With larger funds or for those who qualify for enhanced rates, the IFA advice route can even…

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    Another look at the Pick-A Directory – developing it to be fairer to IFAs

    Another look at the Pick-A Directory – developing it to be fairer to IFAs

    13 January 2014 Pick-A Annuity Directory another look Suggestions to build on all the initial work It is essential to explain properly the value of independent whole of market advice My comments on the Pick-A Directory have really upset those who put it together.  It is such a shame that the wording was not tested on consumer groups or shown to independent advisers before the site went live.  Now that the service is launched I have had a chance to…

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    Pick-A Annuity Directory – why so biased against advisers?

    Pick-A Annuity Directory – why so biased against advisers?

    12 January 2013 PICA Annuity Directory is such a disappointment A wasted opportunity to really ensure customers achieve good outcomes Bias against independent advice and towards non-advice broking is dangerous PICA has just released its long-awaited Annuity Directory (called ‘Pick-A’) which is supposed to help people get better value for their pension savings in retirement.  I had high hopes that this would be a major step forward to ensure customers are clear about what they need in order to achieve…

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    Steve Webb is right to call for annuity reform

    Steve Webb is right to call for annuity reform

    9th January 2014 Steve Webb is right to highlight inadequacies of annuities Better value and more flexible pension products are urgently required Pensions Minister, Steve Webb has been subjected to a tirade of attacks in recent days following his comments about the failings of annuities.  He is accused of proposing unworkable reforms, but he is making valid points.  His remarks seem to have been misunderstood. Of course the Minister understands how annuity products work, but he is highlighting that they…

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    Why pit pensioners and youngsters against each other?

    Why pit pensioners and youngsters against each other?

    8 January 2014 Lost Generation fears are real but premature Baby boomers also went through tough times but went on to thrive We need to be very careful, coming out of a few years of recession and economic turnmoil, not to become too negative when discussing the plight of younger people today.  Of course, the level of unemployment among younger people is a cause of great concern, but this is not necessarily a ‘lost generation’, as is so often claimed….

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    Pensioner benefits – don’t axe them, tax them

    Pensioner benefits – don’t axe them, tax them

    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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    Boom time for UK economy in 2014 – 5% growth!

    Boom time for UK economy in 2014 – 5% growth!

    23 December 2013 Boom time for UK economy in 2014 – 5% growth Positive surprises – higher growth, lower inflation, rising earnings, falling unemployment Economic and political cycle brilliantly aligned – by accident or design? My forecasts for UK economy by end-2014: Growth – 5% Inflation – 2% Earnings growth – 3% Unemployment – 7% – a boom with low inflation, rising earnings and falling unemployment Leading indicators show UK set for a pre-election boom:  The leading economic indicators have been strong for months now and…

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