pensionsandsavings.com

  • PENSIONSANDSAVINGS.COM

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

    • pensionsandsavings.com

    pensionsandsavings.com

    Budget – pensions and ISA tax incentivised investments can help Chancellor cut taxes while boosting growth and reviving UK stock markets

    Budget – pensions and ISA tax incentivised investments can help Chancellor cut taxes while boosting growth and reviving UK stock markets

    Comments 3 comments

    Pension funds and ISAs can help the Chancellor out of his fiscal hole by investing more in Britain to revive British long-term growth, infrastructure and housing supply.  Pensions and ISAs have abandoned UK equity markets – restoring domestic investor support should be a Budget priority.  25% of new pension contributions to be invested in UK assets and Mansion House reforms expanded to cover listed and unlisted UK companies.  A £10,000 Great British ISA.  Investors can still put their money overseas…

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    Important House of Lords debate on saving Investment Trusts from further damage

    Important House of Lords debate on saving Investment Trusts from further damage

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    HOUSE OF LORDS WILL DEBATE LEGISLATION TO SAVE UK INVESTMENT COMPANIES AS INVESTMENT TRUSTS HIT BY NEW WAVES OF SELLING.   Second Reading of Private Members’ Bill tomorrow has cross-party support and could offer quickest legislative route to revitalize sector and stop further damage. Chancellor wanted urgent change but Regulators have failed to deliver so Parliament is being asked to take back control as quickly as possible.    Summary of Main Points: Tomorrow, 1st March, House of Lords will debate important…

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    Time for Ministers to intervene on Investment Trusts, as FCA has failed to achieve change

    Time for Ministers to intervene on Investment Trusts, as FCA has failed to achieve change

    Comments 2 comments

    Emergency intervention to protect UK investment trusts from flawed Regulations could turbocharge UK markets and growth while boosting investor returns.   Ministers must no longer leave it to the FCA to keep dithering and consulting while their misleading rules destroy investor support on a false premise.  UK-listed investment trusts help democratise investing for retail and institutional investors in long-term, less liquid assets such as infrastructure, growth businesses and renewable energy.  Ministers must no longer leave it to the FCA to keep…

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    12 reasons why raising State Pension Age to 71 should be unconscionable

    12 reasons why raising State Pension Age to 71 should be unconscionable

    Comments 2 comments

    12 reasons why raising State Pension Age to 71 by 2040, suggested by today’s ILC Report, is unconscionable and favours well-pensioned higher income groups.  Anyone in their early-fifties and younger would be caught by this proposal – plunging more into poverty in later life. Only the top 10% of the UK population stay healthy to their early 70s. Cutting costs by making unwell workers wait longer, favours the well-pensioned higher paid. The State Pension is part of every worker’s social…

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    My comments on new DB Funding Code for occupational pensions

    My comments on new DB Funding Code for occupational pensions

    Comments 1 comment

    NEW DB FUNDING CODE MOVES AWAY FROM RECKLESS CONSERVATISM. Big improvement on previous proposals which would have driven most schemes into supposedly low-risk bonds, while giving up on long-term investment returns. Regulations are published at last after six years but new Regulatory Guidance is still not ready – schemes need it urgently to prepare ahead of September 2024 start. The new code may help some scheme trustees back more productive finance but the delays have meant fewer schemes will do…

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    Pension Regulator guidance for unlisted investments adds huge risk, doesn’t support the UK and ignores smaller listed companies

    Pension Regulator guidance for unlisted investments adds huge risk, doesn’t support the UK and ignores smaller listed companies

    Comments 1 comment

    Pensions Regulator’s new guidance, encouraging pension funds to invest 5% in unlisted assets, adds significant risk, and ignores the value in listed UK equities which are only 4% of many pension portfolios. Unlocking pension capital to support UK growth and businesses is right, but the Mansion House reforms don’t require any of the £70billion taxpayer pension reliefs to be invested in the UK. To really boost Britain, pension funds should buy more listed companies, including ready-made UK-listed investment trusts portfolios…

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    Some good news for pensioners but plenty more needed to ensure pension assets do more to boost British growth

    Some good news for pensioners but plenty more needed to ensure pension assets do more to boost British growth

    Comments 0 Comment

    Some good news for pensioners but plenty more needed to ensure pension assets do more to boost British growth. State Pension Triple-Lock: Very good news that the uncertainty for pensioners is over. The Chancellor has confirmed the full 8.5% ‘triple lock’ earnings uprating promise for next year’s State Pension. It would have been very wrong to remove pensioner protection again, after breaking that Manifesto Commitment two years ago. Millions of pensioners (especially women) rely on their State Pensions to make…

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    Chancellor should use Autumn Statement to channel UK pension and ISA funds into domestic markets

    Chancellor should use Autumn Statement to channel UK pension and ISA funds into domestic markets

    Comments 0 Comment

    The Chancellor should use the Autumn Statement to incentivise tax-favoured pension and ISA funds to back Britain.  British taxpayers are spending around £70 billion a year in tax and National Insurance reliefs but most is invested overseas instead of boosting British productivity and long-term growth. At least 25% of each pension fund originates from taxpayers – so Government has justification to ensure a minimum proportion of pension contributions supports our own markets. Introducing a Great British ISA for 2024, to…

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    Emergency FCA action needed to prevent collapse of UK investment companies and boost pension fund investment in sustainable growth

    Emergency FCA action needed to prevent collapse of UK investment companies and boost pension fund investment in sustainable growth

    Comments 5 comments

    Misleading cost disclosures are reducing investments in alternative energy and harming UK growth.   UK investment Companies are ready-made for kick-starting pension investment in sustainable UK growth, but FCA charge reporting rules makes them look high-cost, deterring new investors. No more dithering and delay – Government should intervene now to ensure the FCA stops these inappropriate EU-derived charge disclosure rules being applied to UK investment companies. FCA objectives to ensure fair competition, well-functioning, orderly markets, properly informed consumers and accurate charge…

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    Glad to see interest rates on hold, but monetary policy may already be excessively tight and rates may need to come down soon

    Glad to see interest rates on hold, but monetary policy may already be excessively tight and rates may need to come down soon

    Comments 0 Comment

    Glad to see Bank of England decision not to raise rates, but it is worrying that three MPC members wanted to keep tightening. It is a relief that the majority of members decided not to increase interest rates this month, but is still of concern to see three members wanting them to go up by another 0.25 % points. It is hard to understand why rates would need to increase yet again, in the face of major global tensions, leading…

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