Category Archives: Treasury

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

Posted in pensions, steve webb, Treasury | Tagged , , , , , , | 2 Comments

“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 The last consultation was launched on July  22nd and has barely been read before being superseded by a new one to be launched “over the summer” which will go … Continue reading

Posted in NHS, pensions, Treasury | 11 Comments

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

Posted in advice gap, auto-enrolment, pensions, Treasury | Tagged , , , , , | 2 Comments

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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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

Posted in actuaries, infrastucture, investment, pensions, Treasury | Tagged , , , , , , , | 2 Comments

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

Posted in actuaries, advice gap, pensions, pot, Treasury | Tagged , , , , , , | 2 Comments

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

Posted in actuaries, advice gap, pensions, Treasury | Tagged , , , , , , | 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

Posted in pensions, Treasury | Tagged , , , , , , , , , | 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

Posted in Pension Freedoms, pensions, Treasury | Tagged , , , , , , , | 1 Comment

Auto-enrolment limits – what the DWP aren’t saying!

The DWP’s paper on the Earnings Trigger and Qualifying Earnings Bands(QEB) for auto-enrolment next year is very well written and gives an insight into just how much thought is going into managing the conflicting needs of employers, workers, administrators and…HMRC. … Continue reading

Posted in accountants, auto-enrolment, Payroll, pension playpen, pensions, Pensions Regulator, Treasury, welfare, Workie | Tagged , , , , , , , , , , | 2 Comments