Scheme actuaries use a nominal gilt yield curve, which they assert directly matches the currency and inflation exposure of those…
"prefers to compare the returns with a liability proxy (a mixture of gilt maturities)" Are those Index-Linked gilts, given that…
I agree the major problem with DC is that it has been designed as a savings plan not to provide…
Oh, and I think this confusion leading to DB being viewed as a pot by members is an unintended consequence…
Tag Archives: HMT
Mel Stride takes over at DWP – pensions should celebrate.
Restoring the public’s confidence in pensions took a big step forward yesterday. Mel Stride was appointed to be Secretary of State (SOS) for the DWP. It means that for the first time since David Gauke held the post, we have … Continue reading
Posted in pensions
Tagged Conservative, DC DWP Pension, DWP, HMT, LDI, Mel Stride, Pensions, Rishi Sunak, Sunak, Treasury
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His Majesty’s Treasury’s big idea for pensions needs help
HMT has one explicit pensions policy mentioned in the mini-budget. The government is proposing that “well designed” performance fees, typically levied by private equity and venture capital managers, should be excluded from the 0.75% charge cap on DC workplace pension … Continue reading
Posted in pensions
Tagged Asset Manager, HMT, illiquids, private markets, value, Value for Money
3 Comments
The Treasury’s review of funds should remember all who use them!
The Government faces four particular challenges in its regulation and promotion of the UK asset management industry. It has much to lose and little to gain from change – Britain is Europe’s largest asset management hub and the disruption of … Continue reading
Cumbo asks “can pension schemes invest for social good and keep TPR happy?”
Rishi Sunak is keen to see pension schemes invest to get Britain to its climate change commitments. This week the Treasury set out its financial services policy which ended with a promise to encourage investment in long-term illiquid assets, … Continue reading
Net pay pension problems? – don’t leave them to the Treasury
The headline is misleading, the Treasury are not looking for solutions, they are looking for the long-grass ; unless people who give a damn , tell the Treasury to pull their finger out, 1.7m low earners will continue to overpay … Continue reading
Posted in Force for Good, pensions
Tagged HMRC, HMT, Net Pay, pension tax relief, Pensions
2 Comments
Mothball or keep going?
Many small businesses are faced with a stark choice. Should they go into lockdown and effectively mothball what they have – for later reuse? Or should they move on and find a way to deliver some or all of their … Continue reading
Posted in age wage, coronavirus, pensions
Tagged AgeWage, Business relief, Coronavirus, COVID19, Grant, HMRC, HMT, pensions
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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
Posted in pensions, steve webb, Treasury
Tagged Freedoms, HMRC, HMT, Pension Freedoms, pensions, Tax, tax relief
2 Comments
For everyone’s sake – let’s sort pension savings incentives this budget.
Diversity is about including and it’s so important to pensions that we now have a minister of pensions and financial inclusion. A big part of the minister’s job is to create diversity – including not just men and … Continue reading
Posted in advice gap, age wage, pensions
Tagged AE, auto enrolment, DWP, HMRC, HMT, Incentive, net pay anomaly, NPA, pension, pensions, tax relief
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Contractors can’t have their cake and eat our pensions too
The Association of Independent Professionals and the Self-Employed have condemned Lloyds Banking Group’s decision to either scrap contractors or force them into umbrella companies. I think this unfair on Lloyds and unfair on the tax-payer. As anyone in reward … Continue reading
Posted in advice gap, auto-enrolment, pensions, Value for Money
Tagged auto enrolment, DWP, HMRC, HMT, IPSE, IR35, LBG, Lloyds Banking Group, pensions
2 Comments
Thanks for your reply. I hope it does successfully "embed both the real rate and expected inflation in one number".…