• PENSIONSANDSAVINGS.COM

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

  • pensionsandsavings.com

    Loss of confidence in capitalism, economic policy and democracy

    Loss of confidence in capitalism, economic policy and democracy

    25 September 2017 Based on my letter published in the Financial Times 22 September. Recent political events demonstrate disaffection with conventional politics. The votes for Brexit, Trump, Macron and far-right nationalists in Germany and other EU countries have been a shock to the established order. Questions are asked as to whether the sudden surge in populism represents a loss of confidence in capitalism, economic policy and democracy. Unconventional monetary policies may have played a role in the rise of populism…

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    One pension provider looking after low earners

    One pension provider looking after low earners

    13 September 2017 Government failing to recognise problem of low earners losing out in auto-enrolment Companies using Net Pay schemes are not treating low earners fairly Many low paid women are being forced to pay 25% more than they should for their pension One pension provider is taking the moral high ground – Now:Pensions is paying these workers their tax relief I am delighted to see that Now:Pensions has confirmed it will give its low-paid customers the tax relief that…

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    Finally, a ban on pensions cold calling

    Finally, a ban on pensions cold calling

    20 August 2017 WELL DONE TO THE GOVERNMENT FOR DECISION TO BAN PENSIONS COLD CALLING AT LAST Great to see DWP will act, not just keep consulting Protecting people’s pensions from fraudsters is so important Can give clear message to the public that anyone who contacts them out of the blue about their pensions is a criminal This issue has clear cross-party and industry support Banning cold calls and tightening protection against transfers to fraud schemes: The Government has bowed…

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    Banning cold calling

    Banning cold calling

    4 July 2017 Government needs to urgently ban cold calling not just keep consulting Clear support across political parties and pensions firms for a ban Protecting the public from fraudsters needs higher priority Cold call ban could make it clear for the public that reputable firms will not approach them unless they have specifically asked  The Government is about to issue yet another consultation on banning pensions cold calling – asking yet more questions about protecting the public, rather than…

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    Women’s state pension age rises – IFS research

    Women’s state pension age rises – IFS research

    2 August 2017 Controlling State Pension costs is right but 1 in 5 women affected pushed into poverty IFS research shows rising State Pension age saves billions but leaves many in hardship Working age benefits are not enough to support women unable to keep working Government failure to properly inform women could justify helping some bridge the gap Government is right to look to control the costs of state pensions: Clearly, in an aging population, with rising longevity and pay-as-you-go…

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    State Pension Age and Social Care

    State Pension Age and Social Care

    21 July 2017 Government needs to rethink the retirement contract for older people Just relying on the triple lock and rising State Pension age is not sustainable National Insurance needs to help those with lower life expectancy or needing social care The Government has just announced that the UK State Pension age will increase faster than previously expected. By 2039, nobody will be able to start their state pension before the age of 68. This affects people born between 1970…

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    Who will help sort out this auto-enrolment pension scandal?

    Who will help sort out this auto-enrolment pension scandal?

    21 July 2017 Who will help sort out this auto-enrolment pension scandal? Low earners losing money but don’t know it yet I want to highlight a major pensions injustice concerning employers who choose an auto-enrolment scheme administered on a net pay basis. Such schemes cannot add the 25 per cent bonus of tax relief to contributions of workers earning less than £11,500 a year from the employer. Auto-enrolling these employees – mostly women – into a net pay scheme forces…

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    Pension Schemes forced to stop discriminating against same-sex partners

    Pension Schemes forced to stop discriminating against same-sex partners

    12 July 2017 UK pension funds cannot discriminate against same sex partners Landmark ruling rightly requires pension schemes to treat all partners equally Costs could run to hundreds of millions of pounds The Supreme Court has ruled that same-sex partnerships must be fairly and properly recognised within UK pension schemes. In a landmark ruling, ( INNOSPEC VS. WALKER) the judges ruled that a pension scheme member who is married to a same sex partner must be treated the same as…

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    Pension Freedoms need to work better for customers

    Pension Freedoms need to work better for customers

    12 July 2017 I welcome the FCA Retirement Outcomes Review and its focus on the customer but I am disappointed that the pensions industry has so far failed to radically change its approach. The pensions industry needs to wake up to the tremendous new opportunities offered by pension freedoms and auto enrolment. This is the time to show real, innovative thinking in the customer interest but sadly the industry has so far failed. Where are the new products or default…

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    Pension freedoms mean pension transfers make more sense

    Pension freedoms mean pension transfers make more sense

    21 June 2017 Good news: Regulator wakes up to new landscape for pension transfers Advisers encouraged to recognise that transferring out of a final salary scheme could be the right thing to do Pension freedoms have radically improved attractions of Defined Contribution pensions Vital to understand both risks and benefits, rather than assume transfers always wrong The new world of pension freedom and choice paves the way for fresh thinking on transferring out of Defined Benefit pension schemes. Here’s a…

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