government pensions policy – pensionsandsavings.com

Whole new world for pensions

October 14, 2014 Ros Altmann Comments 3 comments

14 October 2014 A giant challenge to the pensions industry – give customers the freedoms allowed by law Pensions can become like bank or building society accounts – take money when you need it This isn’t just for the wealthy, it gives everyone the same freedoms as wealthiest already had New pension system could help fund care needs Everyone to have choice about how to spend their pension savings: The Government is today laying legislation in Parliament that will enable…

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Wouldn’t a 1% charge cap leave NEST out on a limb?

September 17, 2013 Ros Altmann Comments 0 Comment

OFT report into pension charges expected to propose a 1% cap How does that square with NEST’s 1.8% initial charge? NEST charging structure needs urgent overhaul as it can be poor value The long-awaited report from the Office of Fair Trading, assessing the charges levied on UK pension plans, is about to be released and is expected to recommend a cap on the charges for UK pensions probably of 1%. This recommendation would raise a number of issues. It is…

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Private pensions have become politicians’ piggy banks

September 11, 2013 Ros Altmann Comments 0 Comment

Here is my article in today’s CityAM http://www.cityam.com/article/1378855577/private-pensions-have-become-piggy-bank-spendthrift-states?utm_source=website&utm_medium=TD_opinion_right_col&utm_campaign=TD_opinion_right_col FIVE years after the collapse of Lehman Brothers, and the fallout from the financial crisis is far from over. Across Europe, private pensions have become a targets for politicians seeking to reduce the pressure to rein in spending and manage excessive debt after the crisis. While governments are encouraging or forcing citizens to participate in private pension schemes – with the aim of improving retirement incomes – they have not been able…

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Pole-axed Pensions – politicians raiding pensions again

September 10, 2013 Ros Altmann Comments 1 comment

10 September 2014 Financial crisis fallout once again hits pensions Polish Government confiscates private pension assets to improve public finances Politicians have found many ways to raid pension assets when times get tough I just thought I should put together a note following the sudden confiscation by the Polish government of all the bond holdings in Poland’s private sector pension funds last week. It seems to me that private pension savings are not safe in Europe and we need to…

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Auto-enrolment is going well, but it is only a start

August 8, 2013 Ros Altmann Comments 0 Comment

8 August 2013 DWP delighted auto enrolment opt-outs much lower than expected Treasury will have to budget for higher than expected tax relief! Encouraging progress in improving private pension coverage, but far more is needed – including annuity reform Auto-enrolment among largest firms has been successful in ensuring more people save in a pension: The DWP has released figures today showing that nine out of ten workers automatically enrolled into their employer’s pension scheme have decided to stay in. It…

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