Pension PlayPen Post budget “blues” & will Schemes/Savers “Buy British”?
Tuesday 12 March at 10.30am
Next week, we will be joined by WTW Towers Watson’s David Robbins to discuss the Budget including its proposed successes (and its failures)!
Will this be a game changer in a General election year?To be discussed:
🔵 Good or bad budget for “Pensions”?
🟣 Does the pensions industry stick its “head in the sand” (in the short-term) or fight for real change?
🔵 Will DC providers face the challenge of diversification, performance and favouring British/UK asset classes. This comes with a big stick if performance not up to scratch!?
🟣 Lifetime provider model (pot) remains in the government’s thinking…do we want it?
🔵 British ISA …will this work using the old PEP framework?
We are on track for the Lifetime Allowance abolition BUT we have a month to be up and running! Will this now be a huge issue with lack of clarity on the details of how this works?
🟣 Potential failures?
🔵 Dashboard? LISA reform? Auto-enrolment changes? CDC? Superfunds?For paying members:
TO REGISTER PLEASE CLICK “ATTENDING”:
https://lnkd.in/eqztXsQqFor non-paying members:
TO PURCHASE TICKETS VIA EVENTBRITE PLEASE CLICK ON LINK:
https://lnkd.in/ejjRyTxX
Here’s @OBR_UK confirming that automatic enrolment changes aren’t in the numbers because they haven’t been translated into “specific policy measures”. (They’ve copied and pasted what they said before, rather than mentioning the most recent earnings band review.) pic.twitter.com/1OaiGSXAkH
— David Robbins (@David_J_Robbins) March 7, 2024
So, leaving aside the investment disclosure/performance evaluation stuff:
1.) Nothing on their “ambition” to implement the automatic enrolment reforms in the “mid-2020s”. No surprise given fiscal headroom, but it’s not a real policy until it’s in the forecasts. (I half-suspect…— David Robbins (@David_J_Robbins) March 6, 2024
OBR forecasts 2.5% element of the Triple Lock biting three years in a row. So, unusually, the parties’ expected manifesto commitments to retain it will have a cost relative to statutory earnings-based increases under the central forecast.
(Hard to say precisely how big, as the… pic.twitter.com/GHbQ3Zyua3
— David Robbins (@David_J_Robbins) March 6, 2024
One million is the number of people who have been re-enrolled after initially opting out/ceasing saving. The more interesting number – how many of these stayed in the scheme second time around and “are now saving for their future again” – is not reported by employers in the data… https://t.co/oStBN2qrVB pic.twitter.com/rGWay90IdI
— David Robbins (@David_J_Robbins) March 4, 2024
