In the states, certain retirement savings programs have unique "catch-up" provisions - where those whose income varies from year to…
NEST’s Guided Retirement Fund in the UK gets part of the way there by separating money according to its intended…
"As usual with The Times, this is a briefing about England & Wales only." I'm so old that I can…
"... Setting a glide path in retirement is ‘completely useless’ and equities investments should be held in a portfolio for…
Tag Archives: Treasury
A pension tax- relief debate (beats Love Island any Sunday)
While the nation was working out Dancing on Ice and the new #loveisland line-up, I was engaged in an intellectual arm-wrestle with amongst others, Mike Otsuka, John Ralfe, Sam Pickford, Steve Bee and (in the stands) Ros Altmann. The topic, … Continue reading
Posted in advice gap, age wage, pensions
Tagged John Ralfe, Love Island, Mike Otsuka, net-pay, pensions, RAS, Ros Altmann, steve bee, tax relief, Treasury
2 Comments
Some home-truths about our pensions.
When asked “have you got a pension”, most people now say yes. That’s because most people (not all) who are in workplace pensions see the amount paid into a savings account as a payroll deduction that says “pension”. There are … Continue reading
Posted in advice gap, age wage, pensions
Tagged advice, AgeWage, CDC, DWP, pensions, Retirement, Treasury
2 Comments
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
Managing pension expectations – are we doing enough?
This is one of those blogs where my focus is on big Government – or policy – rather than the little things that go into making political strategy happen. For a long time, as long as I’ve been working, there … Continue reading
Posted in advice gap, age wage, pensions, religion
Tagged DWP, homeless, net-pay, pensions, Treasury, Universal Credit
2 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 auto enrolment, net-pay, pensions, PRAS, Ros Altmann, Treasury
2 Comments
The Treasury could make muppets of us all!
With something like 50m as a target customer base, the Treasury’s announcement that they will be allocating £5m to the Pensions Dashboard , suggests it is worth around 10p per tax-payer next year. My maths might be deficient , … Continue reading
Posted in age wage, pensions
Tagged budget2018, Dashboard, EstherMcVey, Pension Dashboard, pensions, Philip Hammond, Treasury
1 Comment
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
Posted in advice gap, pensions, Treasury
Tagged Budget, HMRC, Nicky Morgan, pensions, reform, Tax, Treasury, Treasury Select Committee
Leave a comment
So what’s unfair about a Pension Wealth Tax?
In this article I argue that any tax increases levied on the rich are ok by me, and I’m rich. The bias of vested interest The vast majority of people get tax relief on their pension contributions. Some people are excluded by … Continue reading
Posted in accountants, Henry Tapper blog, pensions
Tagged annual allowance, HMT, Lifetime allowance, pensions, scheme pays, Tax, Treasury, Wealth, wealth management
5 Comments
Schools staring into a pension “abyss”
Contrary to indications that the Teachers’ Pension Scheme (TPS) employer contributions for 2019-20 would be set at 19.1%, schools have now been told that the figure from September 2019 will be 23.6%. The Teachers Pension Scheme, along with all … Continue reading
Posted in accountants, pensions
Tagged GAD, HMT, Local Government, pensions, schools, Teachers, Teachers Pension Scheme, TPS, Treasury, USS
9 Comments
Thinking the unthinkable – Frank’s at it again!
For a third inquiry in a row, Frank Field and the Work and Pensions Committee (WPC) – are asking difficult questions that need proper answers. Firstly they asked if the pension freedoms were working – a question that led to … Continue reading
You usually need 35 qualifying years of National Insurance contributions to get the full State Pension in the UK. If…