I agree. And Richard Murphy made much the same points and more after reading Martin Wolf’s FT piece yesterday, in…
"it will need increased taxation of some kind" Rubbish. Suitable cuts in other government expenditure would do the job and…
When taxation is retroactive it will change behaviour. Be careful with envy focused legislation promote real solutions to British poor…
Extending time horizons can ease short-term funding pressure, but it shifts risk toward younger members. Reform should make those intergenerational…
Category Archives: defined ambition
Of nuclear deterrents, sledgehammers and nuts – (DWP Select on DB)
The 90 page report on the state of our defined benefit pension schemes is published this morning. From first to last it is the work of Frank Field, it begins with BHS and ends with BHS, the confrontation with Philip … Continue reading
Posted in defined ambition, DWP, pensions, Pensions Regulator, workplace pensions
Tagged Derek Benstead, DWP, FABI, Frank Field, knee jerk, Nut, ppf, Sledgehammer
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“The Gold Star DC Pension Plan” – awaiting conception!
That good chap Jonathan Stapleton who runs mags for Incisive has asked me for my view on what makes for a gold star DC pension scheme. I’ve submitted 150 words which I hope will find their way into a … Continue reading
Posted in CDC, dc pensions, defined ambition, pensions
Tagged Dave Brailsford, dc, Defined Contribution, Fiona Dunsire, Gold star, pensions, PQM
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Tax-subsidies on retirement advice; a waste of public funds!
The Government intends to extend tax breaks on pensions to allow those with pension pots to use them to pay for advice. The details are in this consultation document. The fundamental premise is that taking financial advice on retirement matters … Continue reading
Posted in advice gap, consultant, dc pensions, de-risking, defined ambition, pensions
Tagged advice, Advisor charging, de-risking, FAMR, pensions, RDR, Retirement, Tax, tax relief
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Good retirement outcomes depend on collective solutions
The FCA have called for evidence on the likely success of our current “at retirement” strategy, this response is consistent with what this blog has been saying for some years, collective problems need collective solutions, the market is not enough, … Continue reading
Posted in CDC, David Pitt-Watson, dc pensions, defined ambition, defined aspiration, FCA, pensions
Tagged CDC, collective, Drawdown, FCA, Pension Freedoms, Pension Wise, pensions, Retirement, robo-advice, TPAS, unadvised drawdown
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Companies count the cost of pension freedoms
Pension freedoms are … creating a human resources burden, the CBI said, as company leaders try to ensure their older staff do not spend their pension pots early and face hanging on to their jobs when they should have retired. “Even … Continue reading
Posted in advice gap, dc pensions, defined ambition, defined aspiration
Tagged CDC, Defined Ambition, flat-rate tax-relief, Pension Freedoms, pensions, Tax, TEE
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Whose risk is it anyway?
No matter how we look at it – we do not- and will not- live in a command economy. That means we have to take decisions for ourselves rather than be told how to live our lives. If you want … Continue reading
Posted in CDC, dc pensions, defined ambition, Management, Money Advice Service
Tagged apples, choice, dc pensions, de-risking, DWP, Employment, Financial services, Government, pension, Pension Freedoms, Pension new, Pension Wise, Retirement, Ros Altmann, Tax
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Why DB pension promises may need a credit rating.
How do you rate the creditworthiness of your scheme’s funding? Trustees of defined benefit schemes now have to properly assess the employer’s ability (and willingness) to fund the promises made to the members of the scheme. The assessment helps them in negotiations with the … Continue reading
Posted in de-risking, defined ambition, Pension Freedoms, pension playpen, pensions, Pensions Regulator
Tagged Alan Rubenstein, annuity, Blog, Business, DB, defined benefit, Defined benefit pension plan, Employment, Guarantee, Insurance, Pension new, pension promise, pension scheme, pensions, ppf, Retirement, the Telegraph
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How far can guidance go?
Guidance Technology? I am interested by Guidance Technology, it is at the core of http://www.pensionplaypen.com. As we use it, Guidance Technology narrows down options available to people to a shortlist that is clearly differentiated. For an employer to choose the … Continue reading
“To meet the needs of those in the middle” – what pension consultancy should be about!
The Advert On Tuesday I am sitting on a panel with good friends; Otto Thoresen, author of the Thoresen report; Mathew Arends, Partner at Aon Hewitt, Duncan Buchanan president of the Society of Pension Consultants. The session will be chaired … Continue reading
Posted in actuaries, advice gap, auto-enrolment, dc pensions, defined ambition, drawdown, Payroll, pension playpen, pensions, Retirement
Tagged annuity, dc pensions, Defined benefit pension plan, DWP, Employment, Financial services, National Employment Savings Trust, Pension Regulator, pensions, Politics, Public Sector Pensions, Retirement
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The great pensions rotation
“Everything dies honey that’s a fact, and everything that dies some day comes back” – Bruce Springsteen DB died the day they guaranteed indexation. DA will be born the day they take that guarantee away. Ring out the old, ring … Continue reading
Posted in dc pensions, de-risking, defined ambition, defined aspiration, FSA, pension playpen, pensions, Pensions Regulator
Tagged Business, DA, DB pensions, dc, Defined Ambition, Employment, Financial services, National Employment Savings Trust, pension, Pension new, pension playpen, pensions, Retirement
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This is not a good piece by Alan Livsey. As Anonymous has said he does not seem to have grasped…