Solving the pensions crisis Ros gave a brief presentation and participated in a panel discussion at the PMI Spring Conference, outlining why she believes pension reform will not solve the forthcoming pensioners crisis. She explained that state pension reforms are inadequate, while personal accounts may make things worse for many. Keynote speech 'Pension Reform and Reality' Ros delivered the keynote speech at Professional Adviser's Expert Investor Forum in London outlining her ideas on demography, pensions and the need for radical reform. Ros' Pensions Week 2008 predictions Ros was asked to provide some predictions for Pensions Week magazine, this is what she wrote. Ros' 2007 Top Five pension events Professional Pensions magazine asked Ros to name her top five pension events from 2007 and this is what she wrote for them. Letter published in FT on personal accounts reform Letter published in Financial Times explaining why the proposed Personal Accounts pension reforms are dangerous for lower earners and the interaction with means testing must be properly addressed now. Saga website – introduction to SIPPs Article for Saga website explaining the basics about Self Invested Personal Pensions (SIPPs). The Government's Pension Reform Proposals Keynote Presentation given at Henry Stewart Conference outlining Ros' views on the Government's most recent pension reforms and why they will not restore confidence or deliver a sustainable pension system. Reform of Public Sector pensions Article written for Public Servant magazine outlining some expected developments in the public sector pensions debate. House of Commons to vote on amendments to Pensions Bill Release expressing hopes that Government will be defeated in the Commons vote on providing fair and quick compensation for those who have lost their pensions, via cross-party amendments to the Pensions Bill. Pensions crisis – past and future Presentation to the Pensions Trust trustee Awayday in Leeds, outlining the history of the problems in the UK pension system and some thoughts about the future. House Magazine article – ‘If I was in charge of pension reform…' Article published in the House Magazine explaining what Ros would like to do if she were in charge of pension reform! Inadequate protection for personal accounts Exchange of letters in Daily Telegraph warning that the lack of proper consumer protection for the new personal accounts poses real dangers for future disasters and claims for mis-selling that may lead to another scandal. Financial Adviser feature on the proposed new personal pension accounts Feature explaining why Ros thinks the proposed personal accounts should not be introduced and that they are likely to worsen pension provision in the UK – and also may lead to pensions being bought by those for whom they are not suitable. FT letter on the injustice of unfunded public sector pensions being contracted out Letter published in the Financial Times explaining that unfunded public sector pensions are contracted out of the national insurance system and that this is economically nonsensical, merely allowing public sector workers and employers to pay lower national insurance and passing the costs onto future taxpayers. Financial Adviser feature discussing expected Government pension proposals Feature article written for Financial Adviser assessing the expected pension reforms to be announced in the Queen’s speech in Parliament. Restoring confidence and trust in pensions – the missing ingredient of pension reform so far Presentation given at the launch of ‘The Pensions Report’, survey of pension trends in the UK, explaining how pensions are in crisis, coverage is falling and the loss of confidence must be urgently addressed. Policy has so far failed to take account of the ‘demand’ side of pensions and has focused only on ‘supply’. Pensions crisis – it’s real and getting worse Foreword published in ‘The Pensions Report’ in October 2006, explaining the results of a the comprehensive survey of investor and provider attitudes to pension provision in the UK, highlighting that trust and confidence in pensions have been destroyed in recent years. What’s wrong with the White Paper? Article published in Parliamentary Monitor magazine explaining why the latest round of pension reforms will definitely not be the last. Government’s pension White Paper not good enough Article published in ‘Parliamentary Brief’ (Volume 10, No. 10), explaining the background to the UKs pension problems and why the latest White Paper reform proposals will not provide a sustainable solution. Let’s rip it up and start again’ - Critique of Government’s White Paper reforms Article published in Financial Adviser explaining why the Government’s White Paper pension reforms do not go far enough, leaving the system still in need of a radical overhaul. Examples of how loss of final salary pension on wind-up has devastated people’s lives Article published in Sunday Telegraph explaining why the Chancellor’s pensions policies could destroy our once-thriving UK pension system. Demographic dangers for growth - Sunday Telegraph Article published in the Sunday Telegraph, explaining how the Chancellor, Gordon Brown, has squandered the benefits of favourable demographic trends and is leaving the next administration to cope with the economic dangers of ‘demographic drag’. Pensions after the White Paper Presentation given at Scottish Widows Pensions Debate, explaining Ros’ concerns about the effect of the Government’s White Paper on Pension Reform. Comments on Pensions White Paper Ros’ views on the reform proposals contained in the Government’s pension reform White Paper. Article in ‘Public Servant’ Journal ‘ New Thinking on Pensions’ Article published in ‘Public Servant’ Magazine, discussing the future for UK pensions, trends in occupational pension schemes and flexible retirement policies of the future. What is the future for pension saving? Speech given by Ros Altmann to the Association of Chartered and Certified Accountants (ACCA) looking at the future for pension saving after the Pension Commission report. Commons Work and Pensions Select Committee - Pension Reform – After Turner Presentation to the House of Commons Work and Pensions Select Committee outlining Ros’ pension reform ideas and where her views differ from those of the Pensions Commission. Money Marketing article on the effects of pension tax reform ‘A-day’ Comment published in Money Marketing outlining Ros’ expectations of the tax reforms for pensions introduced on 6th April 2006. Rethinking retirement and pensions for the 21st Century Presentation given at the Foreign and Commonwealth Office to a delegation of visiting diplomats from Vietnam, outlining Ros’ views on pension and retirement reforms for the 21st Century. Reforming state pensions is affordable if existing spending is reallocated more wisely Op-ed piece published in Financial Times advocating radical reform of state pensions. Ros explains why muddled thinking on pensions is preventing an affordable reform programme which could put pension policy on a sustainable path for the 21st Century, but some of the existing spending needs to be reallocated. Parliamentary Labour Party Work and Pensions Committee – Pension reform meeting Presentation given to the Parliamentary Labour Party’s Work and Pensions Committee, outlining Ros’ thinking on radical reforms for pensions and retirement, following the Pensions Commission report. Prudential is advising customers to contract back in, why not abolish contracting out? Press Release explaining why contracting out should be abolished as part of radical pension reform and most providers are already advising their clients that they should not remain contracted out. Press Release questioning whether winter fuel and other allowances to pensioners should be more targeted Press Release explaining that winter fuel and other benefits for pensioners are costing over half as much as Pension Credit, yet are not targeted at all and asking whether this is a sensible use of taxpayers’ money. U turn on pension simplification reforms is a shambles Press Release discussing Ros’s view that the government’s climbdown on allowing residential property into personal pensions and last-minute changes of pension simplification tax rules is the right decision but dreadful timing. The Government should never have proposed this and should have listened to warnings over the last 2 years that such changes would lead to huge losses of tax revenue. What is the case for employer compulsion? Additional comments from Ros on the Pensions Commission reform proposals, questioning the intellectual case for compelling employers to contribute to pensions and discussing some of Ros’s reservations about the proposals. Letter published in the FT asking why employers should be compelled to contribute to their employees’ pensions Letter published in the Financial Times suggesting that there is no intellectual case for compelling employers to contribute to pensions, that this is simply a form of taxation and that pension contributions should really be up to the individual. What is the case for employer compulsion? Additional comments from Ros on the Pensions Commission reform proposals, questioning the intellectual case for compelling employers to contribute to pensions and discussing some of Ros’s reservations about the proposals. Comments on proposals of Pensions Commission Second Report Article prepared for Financial Adviser giving Ros’s reaction to the pension reform proposals contained in the Pensions Commission final report. Scottish Widows seminar on Pensions Commission proposals Presentation delivered at Scottish Widows seminar in Edinburgh, outlining Ros’s reaction to the Pensions commission proposals and explaining her hopes for a more radical approach to both pensions and retirement. Savings Market conference - Radically rethinking retirement Presentation to the Savings Market conference in London, entitled ‘Radically Rethinking Retirement, New approaches for the 21st Century’ discussing Ros’s views that we need to reconsider what we expect from both retirement and pensions, in order to be able to move forward on pension reform. Ros’s initial comments on Pensions Commission reform proposals Press Release outlining Ros’s initial reactions to the Pensions Commission reform proposals, offering broad support, but expressing a wish that reforms should be bolder and more radical. BBC website published Ros’s views on reform of occupational pensions Article published on BBC website discussing the crisis in UK occupational pension provision, problems faced by employers and members and recommendations for radical reforms. Why has Government policy to encourage saving failed? Article published in Money Management outlining the failure of pension policy reforms and discussing possible reasons why the Treasury seems to have failed to encourage more pension savings. Pensions World conference ‘Private pension Policy, Pension Reform and Compulsion’ Presentation delivered at Pensions World conference outlining Ros’s views on the need for radical pension reform and why she thinks compulsion would not be advisable. Watson Wyatt debate ‘Pension reform will do nothing for those who need it most’ Ros’s presentation at the Watson Wyatt 2005 pension debate, proposing the motion that ‘This house believes pension reform will do nothing for those who need it most’. Ros, together with Steve Bee the leading pensions guru from Scottish Life, explained why they believed that pension reforms so far will not benefit the Govenrment’s ‘target’ group of middle earners. ACCA pensions lecture ‘Pension Provision in the 21st Century’ Lecture delivered for the ACCA at the Museum of London, discussing the pensions landscape and the role of the accounting profession in helping clients prepare for forthcoming reforms. Speech at Labour Party Conference fringe on encouraging retirement provision Presentation given at B&CE fringe meeting at Labour Party Conference in Brighton, discussing Ros’s views on how to get people to provide for their retirement. Government Pension Reforms Presentation on Pension Reform given at Financial Times FT Financial Adviser Expo in London. Contracting-out has failed Article published in Financial Adviser on 8th Sepetmber 2005, following the FSA study of contracting out, demonstrating that this has provided poor value and explaining Ros’s view that contracting out should be abolished as part of radical pension reforms in the UK. FT letter final salary pensions confidence trick July 2005
Letter published in the Financial Times on 7th July 2005, outlining why UK Government pension policy is responsible for lulling members of final salary schemes into a false sense of security, which allowed employers to get away with making pension promises which they could not afford. This is the fault of Government failure to tell members the truth, rather than malicious employer actions.
Financial Adviser feature on future of UK occupational pensions
Feature published in Financial Adviser magazine, outlining Ros's views on the future for occupational pension provision in the UK, movement away from final salary schemes and role of financial advisers to help make defined contribution provision work better.
The Pensions Landscape - Actuarial Profession conference
Presentation given at Actuarial Profession Annual Pensions Convention, in Brighton on 7th June 2005, outlining the failure of the UK pension model, the outlook for occupational pensions and the role of actuaries in future.
Feature article published in Daily Mail on pension reform
Feature article published in Daily Mail on 31st May 2005, explaining why Ros believes UK pension policy is in a muddle and her proposals for radical and sustainable reforms, to help overcome the crisis which we face in pension provision in this country.
FT comment piece on pension reform
Feature Comment piece published in the Financial Times on 16thMay 2005, explaining Ros's views on what has gone wrong with our pension system and her proposals for radical pension reform.
Professional Pensions column on urgent post-election pension reforms Article published in Professional Pensions in April 2005, outlining Ros's views of urgent pension reforms required after the General Election.
Letter on gradual retirement Letter written to Financial Times explaining why encouraging gradual retirement is a key element of pension reforms.
Brief summary of crisis facing UK employers running final salary
schemes Brief note outlining the situation facing UK employers running final salary pension schemes and why they are now facing huge deficits.
FT letter on economics of pensions and risk Letter published in Financial Times in March 2005 commenting on article by Joseph Stiglitz on US pension policy. The letter suggests that transferring costs of pensions from state to private sector does not make the risks disappear.
Pension Reform in 2005/6 Article published in 'Pensions and Investments UK', discussing implications of planned pension reforms for occupational and personal pensions in 2005/2006. Impact on investment of pension fund assets, trustees of occupational schemes and the new tax regime for contributions.
Moving Pension Thinking into 21st Century Article published in 'Money is Changing' Special Report on Financial Services Marketing, published by Dig for Fire. The article examines the need to re-think retirement, reform state pensions and encourage longer working lives, to move pension thinking into the 21st Century.
Response to Pension Commission First Report Ros's response to Pensions Commission initial report outlining need for radical reform of state pension and re-thinking retirement.
Pensions ARE in Crisis' - ASIM Meeting Powerpoint presentation for ASIM at the ASIM Winter General Meeting in London, outlining why the UK pension system is in crisis and what might be done to improve the situation.
The
Role of Government in Pensions - SOFA conference Presentation given to Society of Financial Advisers Annual Conference on the role of Government in Pensions and future for pensions policy.
Letter commenting on pension burdens faced by UK employers Letter published in Employee Benefits Magazine explaining why employers have been asked to shoulder too much of the pensions burden and that the 'standard' two-thirds final salary pension has become unaffordable for most people.
FT letter on US pension reform proposals Letter published in Financial Times pointing out parallels between Bush pension reform proposals and UK pension policies over the past 20 years which have contributed to our pensions crisis.
Pension News from Labour Party Conference Analysis of suggestions of major shift in Government policy on pensions, which seemed to emerge from the Labour Party Conference. Article
for Daily Express on Pension Reform Proposals Article published in Daily Express, outlining Ros’s proposals for pension reform. Telegraph
article on how pension reform affects you Article published in Daily Telegraph on October 9th 2004, discussing the effect of the 2004 Pension Reforms by the Inland Revenue. It argues that these reforms could change the entire nature of pensions in future, turning them into a short term exercise for those on higher rate tax. Why
are many SME’s not providing pensions? Press release highlighting the implications of the findings of research by the Pensions Institute, explaining why smaller companies are no longer keen to provide pensions. Is
compulsion a sensible way forward? Press Release explaining why Ros does not believe compulsion is the best policy option to adopt, in order to encourage pensions. FT
‘Personal View’ article questioning the inadequacy of
Article commissioned by Financial Times for ‘Personal View’ column, discussing Government policies to encourage savings and questioning why they seem to be targeted only at the top earners, rather than trying to encourage those who do not pay higher rate tax. Comments
on official figures estimating numbers affected by scheme wind-ups Comments on the initial figures released by the DWP, estimating numbers affected by winding up pension schemes, who have lost most of their pensions. Important
Q & A about Compensation
Note outlining how and why Government funded compensation should be organised. CSFI
Pensions Roundtable Presentation on Pensions Solutions
Presentation given to a Roundtable discussion session of the Centre for the Study of Financial Innovation, discussing why pensions are in crisis and possible solutions and policy options for the future. Pensions
in Crisis conference
Presentation given to Association of Private Client Investment Management Service conference, discussing why pensions are in crisis and possible policy responses. Pensions
Bill Comments for Scottish Herald Article written for Scottish Herald, February 15th 2004, with comments on 2004 Pensions Bill proposals. Critique
of Pensions Bill Ros’ comments on proposals contained in Pensions Bill 2004. Criticism
of Pensions Bill Measures for Failure to Restore Confidence Comments on 2004 Pensions Bill, criticising the lack of measures for compensation of victims who have lost their ‘guaranteed’ occupational pensions and failure to restore confidence in pensions. Critique
of Current Pensions Policy
Framework of a presentation given at a fringe event organised by Standard Life at the Labour Party Conference in Bournemouth in October 2003. The presentation discusses Pension Reform and provides a critique of current pensions policy, with suggestions for future policy reforms. Compulsory
Pension Contributions – Financial Adviser
Article written for ‘Financial Adviser’ discussing the case for compulsory pension contributions and why they are not adviseable in the current policy environment. Pension
Credit Could Destroy Pensions - Pensions Week
Article for Pensions week explaining why the Government’s new means tested Pension Credit policy will damage pensions and undermine pension savings in the UK. The
Importance of Independent Advice in Savings Policy
Presentation given at ‘Money Marketing Live’ Exhibition in Manchester on 23rd September 2003, explaining the problems of pension coverage, Government pensions policy and the importance of independent advice in the savings process. Pension
Policy Moving in Wrong Direction – FT Letter
Letter published in the Financial Times in August 2003 explaining why pension policy is moving in the wrong direction.
Will Current Pension Policy Encourage Pensions?
Green
Paper Quotes Which Mislead People into Believing Their Employer's
Pension is Safe Myths
Perpetuated by The Pensions Green Paper Pension
Mistakes Resulting from Tory Legislation in 1990s Summary of reforms introduced in late 1990s which have undermined pensions. Initial
Comments on Pensions Green Paper What
the Green Paper Needs to Do Summary of essential reforms needed in Green Paper. YouGov
Retirement and Pensions Survey Transcript of a speech launching Pension Reforms based on Nationwide YouGov Survey. Green
Paper Wish List Ros Altmann's comments on reforms hoped for in the Green Paper, written for the Financial Adviser. A
New Blueprint for Retirement and Pensions Pensions recommendations for reform of UK pension policy. Pickering
Report Comments Ros Altmann's comments on the findings of the Pickering Review.
Pension Policy and Interaction of State and Private Pension Provision A note describing some of the current pension rules and how State provision affects private provision.
Changing the Fundamentals of Retirement and Pensions A paper that discusses an outline of the problems that current pension and retirement policy faces. |
