pensionsandsavings.com

  • PENSIONSANDSAVINGS.COM

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

    • pensionsandsavings.com

    pensionsandsavings.com

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    Tag: pensions

    Women’s state pension age rises – IFS research

    Women’s state pension age rises – IFS research

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    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

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    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?

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    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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    No room for complacency as UK firms struggle with pension costs

    No room for complacency as UK firms struggle with pension costs

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    15 May 2017 I put in a response to the DWP’s 100+ page Green Paper consultation on the sustainability of final-salary-type pension schemes. My response was also lengthy, but I’ve summarised it for you below, although you can link to the whole thing from there if you want to. I do feel that urgent attention must be given to consolidating schemes, moving away from the over-reliance on gilts (schemes need to ‘manage’ risk, not ‘minimise’ it) and using these huge…

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    A pension scandal ruining good people’s Christmas

    A pension scandal ruining good people’s Christmas

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    23 December 2016 Major pension scandal destroying people’s lives Family plumbing firms face financial ruin due to flawed pension laws but big firms walk away Good employers, who’ve paid their contributions properly into an industry-wide plumbers pension scheme, face personal bankruptcy by pension rules The law forces them to pay for pensions of thousands of workers who never worked for them – 400 employers saddled with debts for 4000 others Some are on the brink of nervous breakdowns or worse…

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    Great news: FCA will finally force firms to look after their pension customers

    Great news: FCA will finally force firms to look after their pension customers

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    26 January 2015 At last the regulator has bowed to pressure for second line of defence – essential in the new era of freedom and choice Providers must ask questions and give risk warnings before customers make irreversible pension decisions Fantastic news for customers:  I am so delighted that the FCA will finally force firms to take more care of their customers, asking vital questions and warning them about the risks of irreversible pension choices.  At last, pension providers will…

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    65+ Guaranteed Growth Bonds – Great news for pensioners from NS&I

    65+ Guaranteed Growth Bonds – Great news for pensioners from NS&I

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    15th January 2015   At last some good news for pensioners’ savings  NS&I 65+ Guaranteed Growth Bonds on sale from today – guaranteed by the Government  These are market-beating bonds with great interest rates and fully backed by the Treasury  Don’t panic, but if you’re over 65 and have money sitting in a savings account, the sooner you apply, the sooner it can earn more for you National Savings and Investments (NS&I) has this morning launched its long awaited new…

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    Pension understanding shockingly low – especially for older women

    Pension understanding shockingly low – especially for older women

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    14 January 2015 Survey reveals shocking lack of pensions knowledge especially among older women High proportion of pension savers have low levels of financial capability Freedom and choice won’t work if people don’t understand pensions Crucial role for ‘Pension wise’ guidance – supplemented by financial advice – to help at all ages Millions of older people – especially women – at risk of poor pensions: The shocking results of a new research report published today show that millions of people…

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    Guidance Guarantee to be called ‘Pension wise’

    Guidance Guarantee to be called ‘Pension wise’

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    12 January 2015 At last the Guidance name is released – ‘Pension wise’ to point people in the right direction for their retirement journey Will need extensive publicity campaign to establish as trusted brand – this is not Advice  Could be great opportunity for IFAs, helping customers appreciate relative value of independent advice and explaining hidden commissions  Still need second line of defence or pensions passport to better protect customers  Guidance brand name unveiled – ‘Pension wise – your money…

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    Victory for common sense – People won’t be fined for not finding all their old pensions!

    Victory for common sense – People won’t be fined for not finding all their old pensions!

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    Government has listened to reason and dropped plans to force anyone taking money from their pension flexibly to notify every past pension scheme Proposals were unworkable, impractical and would have penalised the poorest pensioners Pensioners faced hefty fines for failing to find all past pensions within a month I’m delighted that the Government has changed  its plans that would have forced anyone taking more than their Tax Free Cash out of their pension fund after April 2015 to contact every…

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