In advance of his speech this morning, Torsten Bell- our Pensions Minister – has told the FT of coming changes.

Torsten Bell’s promising bigger pensions for the self employed but with a stern warning for the pensions industry to improve its reputation for delivery.

You can read the article on this free link.  If it runs out , contact me on henry@agewage.com

Thanks to Calum Kapoor for this scoop.

This is unlike the prognosis for the work of the Pensions Commission that the recommendations would come too late for this Government.

We can now expect action on the Pension Commission in the spring. This is bold talk from a Pension Minister clearly confident of support.

This is equivalent to a 50% + increase in what many working people see as a pension tax appearing  on their payslip. Torsten Bell’s job is to make sure people want to increase  their pension contributions.  I am far from sure that throwing problem at the problem will be part of a cost saving of living budget introduced by a new Prime Minister and Chancellor of the Exchequer.

From what I read in the FT , the self-employed are the focus. We may get more on this later this morning (October 15th)

There is much to look forward to next year but as Bell said to the FT

“the problem facing the pension system is that people don’t trust it to deliver for them”.