Ros Altmann – Ros Altmann
  • ROS ALTMANN

    Ros is a leading authority on both private and state pensions,annuities and
    retirement policy. Numerous major awards have recognised her work to
    demystify finance and make pensions work better for people.

  • Ros Altmann

    Ros Altmann

    Browsed by
    Author: Ros Altmann

    State Pension age rising to 70 even though UK State Pension is lowest in the world

    State Pension age rising to 70 even though UK State Pension is lowest in the world

    UK State Pension officially the worst in the world – but still needs to be cut further. Middle income groups receive worse pensions than any other country in the OECD. Government actuaries say under-30s won’t get state pension till their 70s as new State Pension system is unaffordable. The Government Actuary says the UK State Pension is not sustainable, even though it is the lowest in the developed world, according to latest OECD figures. UK bottom of the global pensions…

    Read more Read More

    Government trying to weaken consumer protection for pensions

    Government trying to weaken consumer protection for pensions

    Changes to Financial Guidance Bill would leave pension customers more at risk of scams and fraud, buying overpriced products or paying unnecessary tax. Automatic guidance can help pension customers make the most of their pension savings. Disappointing to see Government bowing to industry pressure to weaken consumer protection. More pension customers will be at risk of scams and losses: I am really disappointed that the Government seems to have bowed to industry pressure and proposes to weaken consumer protection for…

    Read more Read More

    Did Carillion’s banks demand pension scheme sacrifices as price of more loans?

    Did Carillion’s banks demand pension scheme sacrifices as price of more loans?

    Carillion suggests some firms treat pension debt as ‘optional’. Did lenders demand pension fund should be sacrificed as condition of bank loan? Trustees and Pensions Regulator must be consulted before scheme security is compromised. Totally unacceptable to insist pension security plays second fiddle – these liabilities have people’s lives attached. Serious questions about banks demands to reduce pension funding as condition of new loans: Evidence is emerging today which suggests that Carillion’s banks insisted further lending to the company was…

    Read more Read More

    PPF can cope with Carillion but …

    PPF can cope with Carillion but …

    Pension Protection Fund can cope with Carillion. Concern that a hard Brexit might lead to PPF facing difficulties. The Carillion pensioners will see much of their pension replaced by the Pension Protection Fund (but future increases will be lower). However, those not yet at pension age or who took early retirement may lose at least 10-20% of their promised pension. The PPF has budgeted for some big schemes to fail and can manage the onboarding of all Carillion’s pension schemes.…

    Read more Read More

    As care crisis worsens, Jeremy Hunt has a chance to improve both NHS and Social Care

    As care crisis worsens, Jeremy Hunt has a chance to improve both NHS and Social Care

    Golden opportunity to address the social care crisis must not be missed. Integration of healthcare and social care can improve the quality of both. Meaningful reform must end artificial and unfair division between dementia and cancer. As the population ages, the country’s care system simply isn’t fit for purpose: Social care available from local authorities is not providing good care for today’s elderly people (a cohort which is currently very small yet is causing such mayhem), and that lack of…

    Read more Read More

    Toys’R’Us is another signal for Government to recognise dangers lurking in UK pension schemes

    Toys’R’Us is another signal for Government to recognise dangers lurking in UK pension schemes

    Toys’R’Us pension woes highlight risks in employer pension promises. Most private companies cannot shoulder open-ended multi-decade liabilities. In coming years, more employers will look to offload their pension schemes – or be bankrupted by them. Toys’R’Us is the latest casualty in the UK defined benefit pension crisis, highlighting yet again that private sector employer pension promises cannot always be relied upon. The Government recently concluded that most employers can afford their pension deficits, but I believe this is too complacent.…

    Read more Read More