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Category Archives: Treasury
What “fair pensions” might mean in the next five years.
Jim Coney writing in the Times , explains his thinking on pensions tax-relief. He is right to point to the likelihood of major reform of the current system within the next 5 years. If the Conservatives are going to … Continue reading
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Pension tax transparency a long way off
The malaise with pension taxation goes much deeper than the immediate symptoms, the complexity of the Annual and Lifetime allowances, the obscurity of the money purchase annual allowance and the perversity of the running both net pay and … Continue reading
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Posted in pensions, steve webb, Treasury
Tagged Freedoms, HMRC, HMT, Pension Freedoms, pensions, Tax, tax relief
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“A local solution – not a pension reform” the new NHS pension consultation.
Consultations on clinicians pensions are queuing up like ambulances outside AE. The last consultation was launched on July 22nd and has barely been read before being superseded by a new one to be launched “over the summer” which will go … Continue reading
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Posted in NHS, pensions, Treasury
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What is the net pay anomaly?
UK government spending on pensions and top-up benefits for pensioners amounts to 5.9 per cent of GDP – and this figure is projected to increase to 6.3 per cent over the next half century. In addition, the … Continue reading
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Posted in advice gap, auto-enrolment, pensions, Treasury
Tagged auto enrolment, net-pay, pensions, PRAS, Ros Altmann, Treasury
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Pension Tax Reform is the “art of the possible”.
Everyone knows that pension tax-relief is broken and those who try to cling on to the current system do out of vested self-interest (and I include one former pensions minister in that statement). Wealth managers have come to view … Continue reading
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Posted in advice gap, pensions, Treasury
Tagged Budget, HMRC, Nicky Morgan, pensions, reform, Tax, Treasury, Treasury Select Committee
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Why we should be proud to invest our savings in real assets!
My blog yesterday on USS attracted a lot of attention on social media and some interesting comment. This from Ros Altmann – a blog in its own right; Excellent piece Henry. There is insufficient differentiation in this DB debate … Continue reading
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Posted in actuaries, infrastucture, investment, pensions, Treasury
Tagged investment consultants, long-view, pension schemes, pensions, Ros Altmann, Royal Mail, USS, ]
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The value to me of “set and hold”!
The FT is masterful with understatement. A 2% charge can take quite a chunk out of the overall portfolio return If your predicted investment return is (say) inflation +3%, having to earn 2% to pay your investment manager, custodian … Continue reading
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Posted in actuaries, advice gap, pensions, pot, Treasury
Tagged Asset management, cardano, LDI, Michelle McGrade, pensions, redington, Set and Go
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CETVs; the flight from quality
Both the Times and the Financial Times report today on the anticipated voluntary withdrawals from Britain’s DB pensions through cash equivalent transfer values (CETVs). The FT, relying on Mercer as a source, estimate the withdrawals to be as much as … Continue reading
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Posted in actuaries, advice gap, pensions, Treasury
Tagged CETV, contingent fees, DB, defined benefit, Ros Altmann, Scam, transfers
6 Comments
“Help to save accounts”- crumbs for the poor.
The Government is planning (according to the BBC) to spend £70m of tax-payers money incentivising those who are not in work (but trying to get a job) to build up an emergency kitty. These savings will be held in “help … Continue reading
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Posted in pensions, Treasury
Tagged Budget, Budget16, dc pensions, DWP, Help to Save, Osborne, pension tax relief, pensions, Sop to the poor, Treasury
3 Comments
Running Pension Policy – Snapchat Style!
There are leaks and there are leaks, but this feels like the Treasury pulling the plug out with the bath full and ready! Take a look at the timeline of the Times’ story (12.01am); this is no idle tittle-tattle from the … Continue reading
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Posted in Pension Freedoms, pensions, Treasury
Tagged DWP, HMRC, HMT, pensions, Ros Altmann, tax relief, tax-reform, Treasury
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