• PENSIONSANDSAVINGS.COM

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

  • pensionsandsavings.com

    Government should require all UK pension funds to support UK growth

    Government should require all UK pension funds to support UK growth

    UK Pension Funds should support green growth, infrastructure, climate and nature protection.  At least 25% of each pension is funded by taxpayers, which could justify requiring allocations to domestic long-term growth projects.  UK pension funds have slashed their exposure to equities, especially in the UK, but diversification to higher return assets is overdue. Until late 1990s, pension funds relied on high equity allocations: Actuaries and regulators used to assume that equity investment was the most appropriate asset class for long…

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    Budget changes to pension tax allowances

    Budget changes to pension tax allowances

    Great to hear that the Chancellor is planning to finally increase pension tax allowances.   Chancellor should abolish the ludicrously complicated Tapered Annual Allowance.   and increase the limits for Annual Allowance and Lifetime Allowance.   Current tax rules have turned a tremendous workplace benefit into a workplace penalty – driving early retirement and reduced working hours for many senior staff in the NHS I hope the rumours of changes to pensions tax allowances in the Budget will prove correct: Pensions are…

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    Positive messaging could stop people opting out of pensions

    Positive messaging could stop people opting out of pensions

    Is the pensions industry in danger of undermining auto-enrolment by failing to explain the many advantages of pensions? People need to know about the positives, not constant negative messaging, so they understand the free money they will have and higher benefit payments they could have if they keep paying in.  Since 2012, Government policy has brought millions more people into pensions, but providers have not managed to engage or enthuse their new customers with positive pension messages.  Extra money from…

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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

    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

    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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    Billions of pounds of pension money is languishing unclaimed – millions of pots are lost, which could be like buried treasure worth thousands of pounds for each person

    Billions of pounds of pension money is languishing unclaimed – millions of pots are lost, which could be like buried treasure worth thousands of pounds for each person

    The ‘Great Pension Treasure Hunt’ – find your old pensions.  National Pension Tracing Day is this Sunday 30 October.  Nearly 3 million unclaimed pension pots could be worth well over £20billion waiting to be found. National Pension Tracing Day – Sunday 30th October – aims to reunite people with their lost pensions to help them enjoy a better retirement. Many Britons are unaware they may have thousands of pounds that could help them boost their retirement funds as they battle…

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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

    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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    Bank of England needs to revise its thinking

    Bank of England needs to revise its thinking

    Bank of England needs to extend emergency gilt buying programme and suspend QT for now.  Pension funds and LDI are not the sole cause of the gilts crisis and should not be blamed.  Monetary policy and fiscal policy errors compounded pressures from actuarial advisors and Pensions Regulator.  To restore confidence, Bank of England is likely to have to extend emergency gilt market support.  Given the role of QE in undermining gilt market stability, Bank of England should announce it is…

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    Bank of England measures and Government policy management

    Bank of England measures and Government policy management

    QT Tantrum – Bank of England u-turn to buy gilts shows its aim of £80billion gilt sales is unrealistic and likely to be far worse than 2013 US taper tantrum. Bank of England had to step in as UK pension fund margin calls – on top of international investor selling – meant there were no buyers. The QE experiment has left a dangerous legacy across the Western world, but the UK has suffered most due to collapsing international confidence about…

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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

    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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