Press Releases


Ros to become a Minister in a future Conservative Government new!
19 April 2015
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Ros explains that she has been offered the chance to become a Minister in charge of Consumer Financial Protection and Financial Education in a Conservative Government


Announcement that Ros will be offered a Ministerial post in the House of Lords new!
18 April 2015
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This is the Press Release announcing that Ros will be made a Peer after the 2015 General Election and will offered a Ministerial post in charge of consumer financial protection and financial education if the Conservatives form the next Government


Pension Freedom Day – a real revolution for pensions
6 April 2015
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Ros explains her thoughts on the new pension freedoms that start on 6 April 2015 and what people need to consider in connection with their pension savings


Budget 2015 – my thoughts – A Savings Revolution to follow the Pensions Revolution
18 March 2015
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Ros gives her thoughts on the 2015 Budget measures – a Savings Revolution


Older workers face discrimination and disadvantage in the labour market
13 March 2015
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Press release ahead of the publication of my report as the Government's Business Champion for Older Workers. The report is entitled, "A New Vision for Older Workers - Retain, Retrain, Recruit."


Why unlocking annuities would be a great idea
12 March 2015
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Ros explains why she is in favour of allowing people the option to cash in their annuities, although of course there are risks if the value is poor


Let’s have new tax incentives for care saving
2 February 2015
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Ros calls for new incentives to be introduced by the government to encourage people to save for care needs – whether it is via Care ISAs, or using pensions tax free, or other initiatives she calls on Government to urgently address the lack of pre-funding for care.


Policymakers must wake up to the care crisis
20 January 2015
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Ros explains why the care crisis is not being addressed yet and puts forward some suggestions for policymakers to consider


Shocking lack of pensions knowledge especially among older women
14 January 2015
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Ros explains the results of a major new Survey and research report that highlight the woefully inadequate level of financial knowledge among the general public about pensions – with older women especially lacking an understanding of even the most basic terms


Guidance Guarantee to be called Pension wise – your money your choice
12 January 2015
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Ros highlights that there are still unanswered questions with the new Pensions Guidance service but it is good to see the name unveiled – it must now be promoted and marketed widely


Tesco to close its pension scheme
6 Jan 2015
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Ros discusses the potential closure of Tesco pension scheme and points to the impact of low bond yields on pensions


Cashing in annuities – how could it work?
5 Jan 2015
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Ros comments on Steve Webb’s suggestion that annuity customers may be allowed to cash in their annuities


Sharp rise in Tesco pension deficit requires sensitive handling
29 December 2014
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Ros comments on recent reports that Tesco pension deficit has risen sharply, and explains that this is partly due to ultra-low bond yields that have resulted from QE. The Pensions Regulator needs to balance the long term interests of the pension scheme and the short-term interests of the business when deciding on deficit repair contribution demands


Retired people want to work!
26 December 2014
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Ros highlights the results of a Eurofound Survey report which shows that more than half of retired people across Europe would actually like to be working, mostly wanting part time rather than full time work. This is a major social change


Regulator is right to put member interests above shareholder cash
23 December 2014
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Ros welcomes the decision by the UK Pensions Regulator to prevent GPG Group from paying out too much cash to shareholders while it remains responsible for schemes with large deficits


StockMarketWire GPG ordered to put member interests above shareholder cash
23 December 2014
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StockMarketWire wrote about Ros’ support for the UK Pensions Regulator to prevent GPG Group from paying out too much cash to shareholders while it remains responsible for schemes with large deficits


Reaction to Autumn Statement 2014
3 December 2014
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Ros outlines the measures announced in the Chancellor’s Autumn Statement, explaining what it did for pensions, savings and older people as well as the measures that were omitted which Ros would have liked to see


Embracing the 3 'R's can boost growth and improve later life
29 October 2014
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Ros gave the Robert Butler Memorial Lecture to the ILC Global Alliance forum in London, explaining the need to encourage more productive ageing across the developed world.


Use your pension like a bank account
14 October 2014
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Ros explains how the recent pension reforms could allow people to withdraw money from their pension funds in a flexible manner, rather like they might access their bank of building society accounts.


Rising retirement ages can boost economy
7 October 2014
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Ros comments on DWP forecasts suggesting that average retirement age should rise by 6 months a year in order to catch up with past trends in life expectancy. She suggests later retirement is inevitable and could provide a welcome boost to lifetime incomes and the economy.


Q&A - implications of abolishing 55% inherited pensions tax
30 September 2014
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Ros gives further thoughts on the implications of the decision to allow pensions to pass on tax free to future generations and answers some of the most common questions she was asked.


Chancellor scraps 55% pensions 'death tax'
28 September 2014
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Ros welcomes the Chancellor's decision to scrap the 55% tax charge on inherited pensions, explaining that the 55% rate was particularly unfair on those who had only received basic rate tax relief. She points out that this decision will incentivise people to keep money in their pension funds for longer, that may help pay for care in later life too.


Too many older workers opting out of autoenrolment and rejecting free money
28 September 2014
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Ros comments on the latest data showing that over 50s are the largest group opting out of auto-enrolment and points out that the pension reforms make pensions much more suitable for older workers.


Best pensions go to graduates and public sector while women and low paid lose out
11 September 2014
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Ros comments on the latest pension statistics released by the Office for National Statistics which show that women and low paid workers are least likely to have pensions unless they are graduates or work in the public sector.


Annuity sales plummet and drawdown soars after Budget
11 September 2014
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Ros comments on the latest figures from the Association of British Insurers showing the impact of the budget on annuity sales and income drawdown.


Flexibility for pensions - more details announced
20 July 2014
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Ros welcomes the Government's further details on the new rules for pension flexibility and explains what this means.


Working longer can boost growth
13 July 2014
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Ros explains why extending working lives can be a win-win for everyone - better for employers, for business and for the economy as a whole.


Release announcing Ros as Older Workers Champion
11 July 2014
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Press Release announcing that Ros has been appointed as the Government's Business Champion for Older Workers.


A whole new concept of retirement can start
29 June 2014
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Ros explains why extending the right to flexible working to everyone can help redefine the whole concept of retirement.


Transfers from Defined Benefit to Defined Contribution can help scheme funding
20 June 2014
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Ros responded to the Treasury consultation on allowing DB to DC transfers and why this can help scheme funding - as long as proper safeguards are put in place to protect both those who might want to transfer and those who remain in the scheme.


Budget Pension reforms pave the way to kick-start care funding
20 June 2014
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Ros explains why the pension flexibility introduced in the Budget can help pave the way for new products and approaches to encourage people to save for later life care costs.


Collective Defined Contribution - why is is right to allow CDC but beware of over-hyping benefits
1 June 2014
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Ros explains why the Government is right to permit the development of Collective DC schemes in the UK and explains their potential advantages and drawbacks. She highlights some of the risks, but they are better for employers than DB and likely to be better for members than pure DC


Baroness Kingsmill is right - social care crisis demands integration of health and care
16 May 2014
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Ros comments on the Report into social care by Baroness Kingsmill which highlights yet again the growing crisis and Ros explains why integration of health and care is going to be vital to overcoming some of the problems. She explains that the NHS is unsustainable without such reforms


One year annuities - suit providers not customers
8 May 2014
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Ros responds to the Treasury Select Committee report on the Budget pension changes, supporting calls for the FCA to be vigilant about providers acting in the customer interest and points out the shortcomings of the new one-year annuity products.


Council taxpayers could save £660m in local authority pension reforms
2 May 2014
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The DCLG is proposing reforms to the way local authority pension schemes invest which could save council taxpayers £660m a year - or more than 10% of the cost of council staff pension contributions, by pooling assets into Common Investment Funds to benefit from economies of scale and cut investment charges


Should we change tax relief
24 April 2014
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Ros explains how tax relief works, comments on its unfairness but cautions against making changes without careful modelling


Give people the date they are expected to live to, not to die at!
17 April 2014
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Ros comments on the Government's idea to help people plan for retirement by telling them an expected date of death. This is more likely to put them off engaging in thinking about their later life finances that telling them how long they are expected to live - it's not just semantics, it's behavioural psychology.


Class 3A National Insurance pension contributions - good value?
2 April 2014
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Ros explains the Government's proposals to allow people to buy extra years of state pension with so-called Class 3A contributions


What's gone wrong with the UK insurance industry?
28 March 2014
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Ros comments on the announcement by the Financial Conduct Authority that it will investigate old insurance policies sold between 1970 and 2000 to see if the charges and terms are fair to customers and she explains what has gone wrong with the insurance industry profit and sales models.


Pension charge cap announced at last
27 March 2014
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Ros welcomes the announcement of a cap on pension fund charges at 0.75%, ban on commission and Active Member Discounts and calls for reform of NEST charges to simplify the system.


Advice crucial to success of pension freedom
26 March 2014
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Ros welcomes the first day of new pension freedoms but expresses concerns that giving people access to good advice will be crucial to making the reforms a success for individuals.


What could be NISA - using ISAs to fund future care
24 March 2014
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Ros welcomes the Budget changes for ISA savings and calls on the Chancellor to use ISAs to incentivise saving for social care - perhaps allowing such savings free of inheritance tax.


Budget 2014 - Ros' Wishlist granted! End of forced annuities
19 March 2014
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Ros welcomes the revolution announced in the Budget for pensions and savings, with increased flexibility for ISAs and more pension savings taken as cash - she has called for these changes for many years.


Wishlist for 2014 Budget
18 March 2014
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Ros issues her wishlist for the Chancellor's Budget, calling for relief for savers, more flexibility for pensions and savings and no more meddling with pension restrictions.


ABI promises to improve annuity selling - too slow!
10 March 2014
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Ros discusses the latest release from the Association of British Insurers which outlines ways in which it proposes to improve its practices for selling annuities. She believes the media pressure has had an impact but the measures being promised are inadequate and being introduced too slowly anyway.


Five years on - the verdict on QE and low rates
4 March 2014
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Ros wrote a review of the impact QE and ultra low interest rates as the five year anniversary of these policies arrives. She highlights powerful winners and many losers with large risks looming on the long-term as rates have stayed too low for too long.


QE five years on - rejoice or despair?
28 February 2014
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Five years on from the start of QE and ultra low interest rates, Ros outlines ten reasons for some to rejoice and ten reasons for others to despair


Polish pension confiscation - how safe are private pensions?
22 February 2014
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Ros highlights how little fuss there seems to have been that private pension assets are being confiscated by Governments as economic conditions become tough and asks whether safeguards may be needed for private pensions


DWP report on pension charges shows charge cap needed
18 Febraury 2014
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The DWP released a report on pension charges which indicates the need to introduce a cap to protect workers from high fees


FCA Annuities Review - confirms market failure
14 February 2014
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Ros reacts to the release of the findings of the FCA's Thematic Review of annuities which confirms market failure but fails to implement swift reform


Looking forward to FCA Annuities review findings
12 February 2014
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Ros previews the FCAs forthcoming Annuities review findings and calls for urgent action to address the evidence failings


Low rates bonanza for mortgage borrowers is great income boost
4 February 2014
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Description: Ros analyses the latest Bank of England statistics and calculates how much extra income a borrower with a £100,000 mortgage is enjoying since 2008 as a result of low rates and how much income savers are losing over the same period


A bonanza for borrowers but savers lose out as rates stay low
3 February 2014
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Ros shows how much money mortgage borrowers have gained as a result of low interest rates and how much savers have lost out


Annuities are not fit for purpose for many
2 February 2014
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Ros explains why she spoke out against selling annuities to customers without any suitability checks and explains why annuities are no longer fit for purpose.


Pensions crisis worst for women
24 January 2014
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Description: Latest surveys confirm that women are particularly confused about pensions and they need help. Government also needs to inform them of all the changes happening to their pensions so they can make a proper plan.


Pick-A - Another look
14 January 2014
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Description: Ros issues further thoughts on the Pick-A Directory, complimenting its functionality but suggesting that it would be helpful to have a separate listing for truly independent advisers, so people can see who is offering guidance, rather than regulated advice


Pension charge cap delay is sensible
17 January 2014
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Steve Webb's announcement that a cap on pension fund charges will not be rushed through for April 2014 is welcome and sensible says Ros


Why is Pick-A directory biased against advice?
12 January 2014
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Description: Ros comments on the initial wording of the newly launched Directory called 'Pick-A Retirement Income' which is supposed to help people find an adviser or broker to help them choose the best retirement income for themselves and highlights her concerns about wording that seems unfairly biased against independent advice.


Tax them, don't axe them - pensioner benefit reforms should not be done on the hoof
6 January 2014
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Ros comments on the political pressure to abolish or means test pensioner benefits and explains why a considered approach is important rather than knee-jerk reactions


2014 - a Boom Year - electoral and economic cycle brilliantly aligned
28 December 2013
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Ros predicts an economic boom in 2014 with 5% growth, rising real earnings and falling unemployment which aligns the economic and electoral cycle brilliantly. She wonders whether this is by accident or design.


IFS study is a wake up call for saving and working longer
17 December 2013
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Ros comments on the IFS study which suggests people born in the 1960s and 1970s are worse off than previous generations at that age. She points out that the IFS says these cohorts did have higher earnings in their early adult years but chose to spend rather than save their money. This means they may need to work longer to make up for longer lives and lower saving.


Financial Services Consumer Panel slams annuities - excessive profits, poor value?
12 December 2013
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Ros welcomes the Financial Consumer Panel's damning report on the annuity market and echoes its calls for proper regulatory and a full inquiry into the value for money for consumers offered by annuities


Raising state pension age is not penalty on the young but an opportunity for a better later life
5 December 2013
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Ros comments on the news that the Government wants to accelerate the rise in state pension ages for younger generations. She explains that this is inevitable as life expectancy rises and that this is not a penalty on the young but an opportunity to embrace a whole new phase of life that previous generations could not have enjoyed, with part time work following a full time career.


Shocking figures show largest fall in long-term savings since 1970s
4 December 2013
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Ros comments on latest Bank of England figures showing £23bn was taken out of long-term savings in the past year, partly driven by Funding for Lending's impact on saving rates


Autumn Statement measures for pensions and savings
5 December 2013
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Ros comments on the Chancellor's Autumn Statement 2013 as it relates to pensions and savings policy, welcoming news that people can buy extra years of state pension, but lamenting the lack of measures to encourage saving


Where have all the savers gone - Chancellor needs to act in his Autumn Statement
3 December 2013
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Latest figures show the largest fall in long-term savings since the 1970s - Ros calls for the Chancellor to address this with extra help for savers in his Autumn Statement


Ros joins OpenRetirementClub Advisory Panel
28 November 2013
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Ros has joined the advisory panel of the OpenRetirementClub and will help guide the business and its members on pension and retirement policy issues.


Well done Mr. Carney - FLS should have focussed on business lending long ago
28 November 2013
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Ros welcomes the news that the Bank of England has decided the Funding for Lending Scheme should focus only on business lending and not mortgages next year. This should have happened at the start, but is welcome now nevertheless to take pressure off the housing market.


Pension charges need to take account of annuity costs, not just AMC
28 November 2013
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Ros explains why she believes that driving down charges too far could dumb down pensions and that controls on annuity charges and value for money is far more important than whether AMCs are 0.5% or 0.75%.


Annuity providers pocket £1bn from husbands' pensions as widows left penniless
18 November 2013
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Ros explains how the annuity market is failing millions of potential widows, whose husbands do not understand the implications of buying a single life annuity


BoE forward guidance is looking backwards
14 November 2013
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Ros highlights that all the forward indicators of the UK economy are strong and expresses concerns that the Bank of England's forward guidance policy is gearing monetary policy to unemployment which is a lagging policy that reflects what has already happened, whereas monetary policy operates with long lead times.


Capping charges on auto-enrolment ignores the bigger picture
11 November 2013
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Ros explains why the focus on charge caps for auto-enrolment pension schemes is not enough to ensure good value for customers. NEST's own charging structure and the excessive fees on annuities are also important issues to address.


Defined Ambition pensions are worth a try but unlikely to be hugely popular with employers
11 November 2013
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The Government's launch of its consultation on Defined Ambition pension schemes is an attempt to pass back some of the risk and cost of pensions onto employers, rather than leaving all the burden on members in DC schemes.


USS scare stories overdone
25 October 2013
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Ros explains why criticism of the USS pension scheme is unfair


Pensions: Time for Change to bring pension products into 21st Century - MetLife sponsored report
14 October 2013
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Ros wrote a report, sponsored by US insurer MetLife, which highlights the inadequacies of current auto-enrolment pension products, both in the accumulation and decumulation phase of pension provision


Auto-enrolment one year on
1 October 2013
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On the first anniversary of auto-enrolment, Ros explains that the easy part of the reform is behind us, but there are huge challenges ahead


Inflexible Income Drawdown rules deny savers their own money
30 September 2013
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Ros points out that women could in theory now get 50% more pension than this time last year, but inflexible rules mean they can't access more money yet


OFT inquiry on pension charges
17 September 2013
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Ros responds to the OFT report on pension charges, highlighting that the recommendations may well disappoint those who wanted action, but that NEST's charging structure does not fit well with a cap


Bank of England should look at the evidence without blinkers
2 September 2013
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Ros responds to the OFT report on pension charges, highlighting that the recommendations may well disappoint those who wanted action, but that NEST's charging structure does not fit well with a cap


Nobody knows if annuities are good value, but companies make huge profits
13 August 2013
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Ros highlighted the problems facing annuity customers who cannot find out whether their annuity is good value or not, because firms refuse to publish the necessary information. Meanwhile, they can take in £100m free money from people's pension pots each year for doing nothing.


Annuities are a big gamble - income may be safe, your capital isn't
12 August 2013
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Ros explains that annuities should not be considered as 'safe' long-term investments, because the capital is at risk. Nobody issues risk warnings to investors and she calls on regulators and trustees to do more to ensure customers are protected better.


Auto-enrolment opt outs low, will rise in future though
8 August 2013
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Ros welcomes the DWP figures showing low opt out rates for auto enrolment so far, but discusses why these rates are likely to rise as smaller firms join the project in future.


Pension deficits rising despite strong asset growth and employer billions
7 August 2013
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Ros comments on latest figures showing that FTSE100 scheme pension deficits rose over the past year, despite a 10% increase in assets and employers pouring around £20bn into their schemes. QE and low rates continue to damage pensions.


Forward Guidance means three more years of misery for savers
7 August 2013
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Ros reacts to the Bank of England's forward guidance that interest rates are likely to stay at current exceptionally low levels for another three years and explains the potential downsides of this policy.


250,000 widows a year at risk from annuity market
2 August 2013
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Ros calculates that the failure of couples to buy joint life annuities may result in 250,000 widows or widowers each year at risk of being left with nothing when their partner dies.


We need joined-up policy for pensioners
12 July 2013
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Ros comments on the National Audit Office report highlighting how pensioner policy falls under too many different Government departments.


NEST restrictions being lifted - good news, But not till 2017 - bad news
9 July 2013
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Ros welcomes the removal of NEST restrictions but explains why they should ideally be removed before 2017, to give NEST a fairer chance to compete and for taxpayers to receive quicker repayment of their loan.


Allowing AIM stocks in ISAs
1 July 2013
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Ros explains why she believes the Treasury's announcement that ISAs will be allowed to invest in AIM stocks is sensible, but of course these will probably add to the risk level of a portfolio.


PPF can handle UK Coal
1 July 2013
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Ros explains why fears about the impact on the PPF of absorbing UK Coal's pension schemes is overdone.


Robin Hood in reverse - distributional dangers of monetary policy
28 May 2013
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Press Release explaining how QE acts like a tax cut for the wealthiest while imposing tax rises on the masses.


QE has created dangerous asset bubbles
28 May 2013
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Press Release highlighting the dangers of QE having created asset bubbles and calling for money to be directed to real assets, not financial assets in order to revive growth.


Great news - Government will ban consultancy charging
10 May 2013
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Press Release welcoming the Governments decision to improve member protection in auto-enrolment pensions by banning consultancy charging and planning a cap on default fund fees.


Consumer perspectives on Retirement Income Options
10 May 2013
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Ros explains why older women are so confused about their state pensions - the whole reform agenda has caused serious problems for many women in their late 50s and Government must address this by providing everyone with clear information so they know what is happening.


Queen's Speech - what to watch out for on pensions
8 May 2013
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Press Release ahead of the Queen's Speech pointing out some of the important issues that need to be considered in the Government's proposed pension reforms.


Queen's Speech - what to watch out for on social care
8 May 2013
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Press Release highlighting that the Social Care bill highlighted in the Queen's Speech is welcome but only one small part of what is needed to solve the social care crisis.


Pensions Regulator eases pressure on UK employers
8 May 2013
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Ros comments on the latest Guidance issued by the UK Pensions Regulator, which suggests that employers should be given more leeway in the near term when dealing with their pension deficits.


Married women's pension rights must be protected
6 May 2013
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Ros comments on the latest Government statement that people living abroad will not be able to claim pension rights on their husband's record in the UK. She points out that UK resident women have relied on their husband's contributions and should not have their rights removed just to appease UKIP supporters.


Work and Pensions Select Committee calls for better regulation in auto-enrolment
24 April 2013
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Ros explains what we might expect from the White Paper announcing the flat-rate state pension reforms.


Another pension scandal brewing - end consultancy charging now
23 March 2013
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Press Release explaining the scandal of consultancy charging and commenting on the Which? mystery shopping exercise which confirms the need to ban these unfair member fees.


Budget 2013 Comments
21 March 2013
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Ros's comments on the Budget, welcoming some measures but expressing concerns about emphasis on mortgage borrowing and house prices


Budget Wish List 2013 - Pensions could kick start growth
18 March 2013
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Ros outlines her proposals for the Chancellor's Budget 'to do' list. She calls for measures to help stimulate growth directly and use pensions and savings to boost investment directly, rather than relying on banks. She calls for tax breaks for corporate investment that are only available if investments start in the next 12 months.


Victory for 85,000 women
18 March 2013
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Ros welcomes the Chancellor's announcement that the new single tier state pension will be introduced from april 2016 after all, not April 2017. This means all women who have had a second increase in state pension age will be included in the new system.


RPI no longer a national statistic
18 March 2013
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Ros comments on the ONS statement announcing that it will be downgrading RPI, and deciding it will no longer be a 'national statistic'.


Cyprus could bring down whole EU banking system - small depositors must be protected
18 March 2013
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Ros comments on the news that a bail out for Cyprus will include bank deposits being confiscated, breaking the promised depositor protection guarantees. She warns that this will undermine trust in all EU banks and needs to be rethought


NEST restrictions must be lifted straight away - don't delay
11 February 2013
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Ros welcomes the DWP Select Committee recommendations that lifting of NEST restrictions is urgent and failure to do so will cost taxpayers hundreds of millions of pounds.


Social Care reforms welcomed - Dilnot framework will really help
10 February 2013
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Ros comments on the anticipated Government reforms to be announced that will pave the way to introduce Dilnot-style framework to reform social care funding over the longer term. Broadly welcoming the changes, she highlights how they can help the process of reform.


FSA Thematic Annuities Review must look at more than just OMO
31 January 2013
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Ros explains why the FSA review of annuities is welcome but must look at more than just shopping around for a better rate, it is vital that customers get the right kind of annuity too.


White Paper state pension reform much less generous than Green Paper
16 January 2013
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Ros explains that the latest proposals for state pension reform - a £144pw flat rate state pension with 35 years contributions - is far less generous for most people than the £140pw proposed with 30 years contributions in the Green Paper, however the entitlements for members of final salary schemes have been made much more generous


£144per week State Pension Reform at last
13 January 2013
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Ros explains what we might expect from the White Paper announcing the flat-rate state pension reforms


Means testing pensioner benefits to fund Dilnot could make care crisis worse
3 January 2013
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Ros explains why CentreForum proposals by Paul Burstow to fund Dilnot reforms by means testing pensioner Winter Fuel Payments will not work. They risk making more pensioners worse off and needing care, since extending means testing will lead to lower savings


Release after Autumn Statement 2012
5 December 2012
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Press Release giving Ros' initial thoughts on the measures contained in the Chancellor's Autumn Statement 2012.


Make this an Autumn Statement for Savers please George
30 November 2012
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Ros explains that the Chancellor needs to make some urgent reforms to help savers and boost growth in his Autumn Statement.


DWP paper on Reinvigorating pensions doesn't go far enough
22 November 2012
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Ros comments on the latest DWP paper about reinvigorating pensions, and explains that defined ambition pensions need to define a different ambition - a capital sum, rather than an income perhaps.


Steve Webb right to warn on Solvency II
20 November 2012
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Ros supports Steve Webbs warnings about the dangers of Solvency II rules that may be forced on UK pensions by the EU.


Bank of England must halt its gilt-buying programme
6 November 2012
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Ros calls on Bank of England to halt its gilt buying programme and assess alternative policies which may have less damaging side effects.


Removing Restrictions on NEST would be great for auto-enrolment and taxpayers
6 November 2012
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Ros welcomes the consultation on removing NEST restrictions.


Removing NEST restrictions would be sensible
5 November 2012
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Ros comments on DWP consultation paper discussing removing NEST restrictions. Ros believes removing restrictions is essential to make NEST sustainable, repay taxpayer loan and ensure it can compete effectively.


FSA finally gets more real on investment return forecasts
2 November 2012
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Ros comments on the FSA's recommendations that investment return forecasts for pensions should be lowered to become more realistic - better late than never!


ONS suggests QE may have damaged growth
25 October 2012
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Ros highlights the latest figures from the ONS which suggest QE may have weakened growth and hampered economic recovery.


Norman Lamb wants to make dementia a top priority - great news
25 October 2012
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Ros welcomes Norman Lamb's comments that he wants to make improving dementia care a top priority. Saga fully supports this aim and wants to see urgent action.


LGA warning confirms short-term fixes won't cure care crisis
24 October 2012
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Press Release commenting on latest warnings from Local Government Association about the looming care crisis - we need radical reform, short-term fixes won't work.


Submission to House of Lords calls for social care reform and rethinking retirement in face of demographic change
19 October 2012
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Press Release summarizing Ros' evidence to the House of Lords Inquiry into Public Services and Demographic Change.


At last age discrimination is outlawed in the workplace
5 October 2012
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Press Release welcoming the official end of the Default Retirement Age. It is no longer legal to sack someone for being age 65 - you have to judge how they do their job.


Means-testing pensioner benefits is wrong
25 September 2012
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Press Release explaining why Nick Clegg's proposals to means-test pensioner benefits would be wrong policy.


Pension membership at record low
19 September 2012
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Press Release commenting on latest ONS figures showing pension scheme members has fallen to record lows, lowest since 1953.


Pensioners billions of pounds out of pocket
12 September 2012
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Press Release highlighting the release of research by Cebr explaining the impact of fiscal and monetary policies on pensioners.


Policy punishes drawdown holders, lowers tax revenue, penalizes the unwell
10 September 2012
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Press Release explaining the need to revise income drawdown rules to make them fairer, especially after latest sharp falls, and allow older people in poorer health to take out more of their own money.


Could the 'Grey Pound' get us out of recession?
9 September 2012
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Ros wrote an article for the Sunday People explaining the damage done to the 'grey pound' by Bank of England policies and suggesting better ways to get growth going.


Drawdown policy changes penalize the less healthy and less wealthy
8 September 2012
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Press Release explaining how both fiscal and monetary policy have damaged income drawdown pensions and the unfairness for those in ill health in particular.


Has Bank of England scored an own goal with QE?
6 September 2012
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Press Release about Cebr research which shows that QE has caused over 50s to cut spending and may have pushed UK economy into recession.


Analysis of impacts of Monetary Policy on spending of over 50s
6 September 2012
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Cebr research quantifying the possible effect of QE, inflation and low interest rates on consumption spending by the over 50s and impact on GDP.


Response to Bank of England analysis of QE impacts
3 September 2012
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Ros published a response to Bank of England conclusions that its policies have not damaged the economy or pensions and that it may have underestimated the negative effects of monetary policy measures.


How can you relieve impact of QE on your pension
31 August 2012
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Telegraph published Ros' comments on how to try and relieve the impact of QE on your retirement income.


Longer lives are cause for celebration and new life plans
29 August 2012
read the article

Ros welcomes ONS figures showing the UK population can look forward to longer lives and staying healthy for longer too. This opens up tremendous opportunities for enhanced lives but needs planning for working longer and saving for care needs as well as pensions.


Response to Bank of England analysis of QE impacts
24 August 2012
read the article

Ros published a response to Bank of England conclusions that its policies have not damaged the economy or pensions.


Bank Of England Is Wrong To Suggest Pension Funds And Annuity Purchasers Have Not Been Hurt By QE
23 August 2012
read the article

Ros comments on the Bank of England's research into the distributional impacts of Quantitative Easing and low interest rates.


Current state pension not fit for purpose - especially for women
21 August 2012
read the article

Ros comments on latest figures from DWP showing a staggering £200 a week difference between state pension payments across the country - and explaining that the current system is unfair, especially as most of the with low pensions are women and with high pensions are men.


Is Cameron finally coming round to idea of Dilnot's cap?
16 August 2012
read the article

Release welcoming reports that David Cameron may insist on supporting Dilnot's £35,000 care funding cap.


Care reform can free up NHS Emergency beds
9 August 2012
read the article

Ros comments on a report from the King's Fund which highlights the possible savings in emergency bed use by older people if more prevention and home care is funded.


Over 50s female finances face triple blow
3 August 2012
read the article

Ros comments on a report from MetLife showing the big differences in pensions between males and females.


QE is pushing final salary schemes to the brink
3 August 2012
read the article

Daily Telegraph published Ros' comments that QE is damaging UK pension schemes and many are facing a 'death spiral'.


QE forces UK pensions into 'death spiral'
2 August 2012
read the article

Ros explains the damage being done to UK final salary pension schemes as deficits mount and gilt prices rise, forcing schemes to face a 'death spiral'.


Government needs to incentivise workplace financial advice
2 August 2012
read the article

Ros comments on a report from the CIPD and calls for incentives for employers to provide workplace advice on financial planning.


DWP says auto-enrolment makes pensions better
1 August 2012
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Ros comments on the latest DWP report suggesting that those auto-enrolled into pensions will have much better retirement incomes.


Record numbers of over 65s working - good news and bad news
18 July 2012
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Ros comments on latest employment figures showing record numbers of over 65s at work. This shows a social reovlution is underway, but also indicates the problems faced by those nearing retirement whose pensions have not worked out well.


Aging population is something to celebrate
16 July 2012
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Ros comments on figures from the ONS showing record numbers of older people in the population, and rising numbers of babies being born too - this is all good news and longer life expectancy means people can keep working part-time at later ages.


DWP delaying proposals for state pension reform
12 July 2012
read the article

Ros comments on the announcement that Government proposals for reforming state pensions and increasing state pension age are being delayed from Spring 2012 to the Autumn. We do need to get the detail right, but reform is essential.


White Paper reforms meaningless without more funding
11 July 2012
read the article

Press Release commenting on the Government's proposed reforms of social care, highlighting that the reforms are welcome, but cannot be implemented meaningfully without reform of funding.


Means-testing pensioner benefits would be like reducing the pensions only of pensioners who've saved
10 July 2012
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Ros responds to calls for pensioner benefits to be means-tested, pointing out that this could require means-testing six million pensioners, it would risk undermining savings incentives, as well as failing many of the poorest pensioners who need the money but don't claim.


Empty words won't deliver decent care
9 July 2012
read the article

Ros comments ahead of the release of the White Paper on social care reform, pointing out that if the Paper fails to reform funding of social care, it won't address the crisis.


Let's have Care ISAs to start the savings we need for care
9 July 2012
read the article

Press Release welcoming calls from influential Tory MPs for the Government to introduce care ISAs and perhaps family care saving plans to help people prepare for care - Social Care reform will still require a care savings culture and so far there are no incentives to save for care - and indeed most people don't realize they even need to.


Another £50bn QE will not work - why is Bank ignorning evidence that QE has failed
5 July 2012
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Ros warns that the Bank of Englands announcement of a further £50bn gilt-buying with a third round of QE will not produce growth, it will help the banks, but not the economy. The Bank seems to be ignoring the evidence that QE is damaging important areas of the economy.


Of course older workers should be better off than younger ones
26 June 2012
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Ros comments on a paper from the Institute for Fiscal Studies which shows that older generations are better off than those in their 20s and 30s, suggesting that this is something to be concerned about! Surely this is the normal way of things, young people should aspire to be better off when they reach the end of their working life, that's a success!


More QE will be bad for the UK economy - distorting gilt yields is dangerous
25 June 2012
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Ros responds to an interview in which David Miles of the Bank of England calls for further QE to stimulate the economy. She points out that this would be dangerous, that gilt yields are already distorted and that QE is continuing to damage growth and pensions.


June inflation shows welcome fall, but still above target
19 June 2012
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Ros comments on latest inflation figures for June 2012, showing a fall in cpi to 2.5%, which is welcome news for savers at last. Inflation remains above target however, and is still affecting older generations more than others.


Solvency II could destroy UK pensions
19 June 2012
read the article

Ros wrote a blog for the Daily Mail RightMinds website, explaining the dangers of the new EU rules called Solvency II, which could devastate UK defined benefit pensions and annuities


QE acts like a stealth tax on older generations
18 June 2012
read the article

Press Release highlighting the damage done by QE to older generations and to pension funds, calling on Bank of England to recognise dangers of buying gilts.


ADASS survey shows care funding fell £890m last year
14 June 2012
read the article

Ros comments on results of ADASS Survey revealing that, even as demand for care rose, funding fell by £890m last year - how can we deliver decent care with councils cutting spending?


Relax the pension discount rate - current gilt yields are not appropriate
13 June 2012
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Ros calls on the Government to relax the discount rate used for calculating pension liabilities


Record numbers working past pension age - social revolution?
13 June 2012
read the article

Press Release commenting on the latest ONS official figures showing that the numbers working past pension age have doubled in the past ten years


Record deficits for UK pension schemes due to QE
12 June 2012
read the article

Press Release commenting on latest figures from the Pension Protection Fund showing UK defined benefit pension scheme deficits are at the highest level ever and PPF blames QE for partly causing the problems


Women the poor relations in pensions
8 June 2012
read the article

Press Release commenting on latest figures showing that the gender gap between men and women's pensions has fallen, but that is only because women's pensions have fallen by less than mens!


Auto-enrolment may be missing a chance to revive long-term savings culture
24 May 2012
read the article

Press Release highlighting Ros' comments at the CCW Pensions Lecture, in which she challenged the idea of auto-enrolment only into pensions and called for a broader definition of long-term savings for workplace incentives.


IMF is right we need Plan B - but that's not QE!!
22 May 2012
read the article

Ros outlines her vision for a new phase of life, with people working longer but part time, as pensions have not delivered enough to support longer lives adequately.


MPC's academic attitude to QE is not working in the real world
20 May 2012
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Ros discusses why MPC member David Miles' analysis of QE impacts are based on academic assumptions which do not work in the real world. Denying that QE has damaged growth and pensions rests on flawed analysis.


Retirement should be a process not an event
14 May 2012
read the article

Press Release commenting on latest research from ILC explaining the benefits to society of embracing our 'bonus years' which can be the solution to Rethinking Retirement.


Bank of England right to put QE on hold
10 May 2012
read the article

Press Release welcoming the Bank of England's decision not to extend QE and suggesting that QE may not be working. The Bank should not ignore the dangerous side-effects of its monetary medicine.


Queen's Speech indicates no urgency on care reform
9 May 2012
read the article

Press Release expressing disappointment that the Queen's Speech only included a draft social care bill, rather than urgent immediate reform.


Endorsing open letter to Prime Minister on care reform
8 May 2012
read the article

Ros explains why Saga endorses calls for urgent reform of social care in an open letter to David Cameron, pleading with him to tackle care reform with the urgency it demands.


Defined Ambition pensions - a good aspiration!
May 2012
read the article

Ros comments on Steve Webb's suggestions of introducing a new type of risk-sharing for employer pensions, a half-way house between DB and DC, but where the employer takes back some of the risks that have been passed to workers.


National Accounts figures for pension spending
27 April 2012
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Ros comments on the ONS first national accounts estimates of future pension spending, showing £7trillion of liabilities for past pension promises, with far more still to accrue, and a high share going to public sector pension payments.


Budget analysis - the good and the bad
21 March 2012
read the article

Ros analyses the impact of measures in the Budget for pensions, pensioners and pension funds


Budget contains stealth tax for middle income pensioners but £140pw pension good
21 March 2012
read the article

Press Release analyzing the Chancellor's Budget and explaining the good parts and not so good parts


Report into Domiciliary care highlights inadequacies
16 March 2012
read the article

Press Release supporting the findings of the Report on Domiciliary Care and calling for improved standards of dignity and decency in UK care provision


Work and Pensions Select Committee Report must be taken seriously
15 March 2012
read the article

Ros highlights the recommendations of the Work and Pensions Commons Select Committee and calls for lifting restrictions on NEST, as well as state pension reform


EU rules set to make UK pensioners poorer
15 March 2012
read the article

Press Release criticizing EU rules on SolvencyII and gender-neutral insurance rules, which will make UK pensioners poorer via lower annuity rates, as well as undermining defined benefit pension schemes


Tesco scheme changes pave way for others to follow
15 March 2012
read the article

Ros' view is that the latest changes to Tesco's pension scheme, increasing pension age to 67 and uprating by cpi instead of rpi leaves the way open for other employers to follow this lead. However, the Tesco scheme remains a very good scheme for Tesco workers.


100 year gilts not attractive, but longevity gilts could be great
15 March 2012
read the article

The Government's suggestion of issuing 100 year gilts would not be attractive to pension funds, but would be great for taxpayers. However issuing longevity gilts would be far better


Latest unemployment figures bad news for older women
13 March 2012
read the article

Ros explains that the latest unemployment figures show that older women have seen the largest rises in job losses, reaching a record high


It's time to consider savers again
5 March 2012
read the article

Press release marking the third anniversary of the Bank of England's record low 0.5% interest rates, calling for the suffering of savers to be addressed, perhaps with higher Cash ISA allowances to help older people receive more interest tax free


Care and Support Alliance lobby is important
1 March 2012
read the article

Ros supports the need for urgent care reform and urges the Government to take notice of the Care and Support Alliance lobby


Economic Effects of QE
9 February 2012
read the article

Press Release discussing the economic impacts of QE and the evidence as to how effective it might be.


Minister in denial over care crisis
8 February 2012
read the article

Press release following the Health Select Committee report on Social Care, commenting that the Minister for Social Care seems to be in denial about the underfunding in our care system and fails to appreciate some of the potential reforms.


Buying gilts is not a recipe for growth
8 February 2012
read the article

Press Release warning that buying gilts in QE could actually damage growth, rather than boosting it.


Are pensions past their sell-by date?
26 January 2012
read the article

Press release questioning whether pensions need to be re-branded and more flexible to ensure better retirement savings.


Pensions needs more flexibility
25 January 2012
read the article

Press Release explaining why the inflexibility of pensions is leaving many savers with nothing - using ISAs may be better than only pensions.


We must ringfence the extra money for care
25 January 2012
read the article

Press Release explaining why the Government should ring-fence the extra money it says it has allocated to social care, to ensure it is actually spent on care.


Latest inflation figures nothing to celebrate
17 January 2012
read the article

Press Release explaining why the latest inflation figures, while lower than before, are still dreadful and over 50s are suffering most.


Proper care reform can't wait
16 January 2012
read the article

Press Release ahead of cross-party care talks in Parliament calling for urgent reform that goes beyond party politics.


Investing in infrastructure - a natural fit for pension funds
15 January 2012
read the article

Ros explains why we need pension assets to invest in infrastructure to help boost their returns and the economy. Government should even consider underwriting some inflation linked returns for such projects.


Another confirmation of our care crisis
15 December 2011
read the article

Press Release commenting on latest reports showing inadequacies of dementia care in our hospitals - this crisis is real and must be tackled urgently.


Autumn Statement has nothing for savers
29 November 2011
read the article

Ros comments on the Autumn Statement which contained no help for savers, but some sensible suggestions on using pension funds to invest in infrastructure.


Pensions Minister says pensions have an image problem!
21 November 2011
read the article

Ros interviewed Pensions Minister Steve Webb and he explained why he believes pensions have an 'image problem' and that he is determined to make a real difference for future pensions. He also acknowledges QE has hurt pensioners.


QE2 is a massive mistake
6 November 2011
read the article

Press Release highlighting why the Bank of England's decision to launch a second round of 'Quantitative Easing' is dangerously misguided and will undermine economic activity, rather than create sustainable growth. By buying gilts, QE means new pensioners will be permanently poorer as annuity costs and inflation soar.


A very generous offer!
3 November 2011
read the article

Press Release explaining that the Government's latest and much improved offer to the public sector unions is very generous and, if they understood it, surely the workers would accept it.


Pensioner inflation even higher than national average
20 October 2011
read the article

Press Release highlighting that pensioners face an inflation rate even higher than the national average, with rpi increasing by over 6%.


Launching QE2 will be a Titanic disaster
6 October 2011
read the article

Ros warns of the dangers of the Bank of England's desire for more Quantitative Easing and that it will end in disaster.


No more DRA - hurray!
3 October 2011
read the article

Press Release welcoming the news the Default Retirement Age has officially ended and workers can no longer be sacked for being 65.


LibDem conference plea for changes to state pension age changes
20 September 2011
read the article

Press Release responding to appearances by Steve Webb, Pensions Minister, at Fringe Events at the Liberal Democrat Party Conference where he said changes to State Pension Age 'must be fair'. Ros explains better and fairer ways for the current Pensions Bill.


Pensioner inflation nearing 20% in four years!
13 September 2011
read the article

Press Release highlighting that Saga has calculated inflation for the over 50s and, since the start of the credit crisis, inflation for older people is nearly 20%, so nearly a fifth of their purchasing power has been wiped out in just 4 years.


Raising state pension age to 67?
12 September 2011
read the article

Ros comments on remarks by Iain Duncan Smith, Secretary of State for Work and Pensions, which suggest that Government is considering bringing forward the increase in state pension to 67 by 2026. This could allow a slower timetable for increasing to 66, giving fairer notice.


Oh no, NS&I tax free inflation-linked bonds withdrawn!
7 September 2011
read the article

Ros comments on the disappointment that National Savings has withdrawn its inflation-linked savings certificates (and its fixed savings certificates) which were the best way for savers to protect themselves, tax free, against inflation.


A victory - cheques are saved!
23 August 2011
read the article

Press release welcoming the decision by the UK Payments council to reverse its plans to abolish cheques.


Living to 100
4 August 2011
read the article

Release welcoming the news that millions of people are going to live to be 100 and that gives us the opportunity of many more years of healthy life and part-time work to supplement our pension savings.


WRIC - Press Release on Lord McFall's report
1 August 2011
read the article

Press Release on Lord Mc Fall's report on pension reform does not really go far enough. Pensions need rebranding, it's not just high charges that are the problem.


Women's hopes dashed again
8 July 2011
read the article

Ros highlights the disappointment that Government failed to bring forward any amendments to its timetable for proposed state pension age rises, despite promising to make changes.


Long grass beckons - Disappointing Government response to Dilnot report
7 July 2011
read the article

Ros comments on the Government's response to Dilnot's recommendations, which seem to suggest no urgent action and no White Paper - just a 'progress report' next Spring.


People not saving for care
3 July 2011
read the article

Press Release about Saga Survey results highlighting the inadequacy of savings for long-term care needs - nearly 90% of people think it is important to save for both pensions and care needs in later life, but while half have pension savings, only 16% are saving anything for care - reform is needed.


Care has always been the 'poor relation' - Government must act now
29 June 2011
read the article

Ros warns that Dilnot's recommendations for a cap on care costs need to be taken seriously and Government must improve funding for care before the crisis becomes a catastrophe.


Bank must take long hard look at effect of low rates on growth
28 June 2011
read the article

Ros comments on the need for the Bank of England to take the inflation threat to our economy more seriously and examine the risks to growth.


State Pension reform - it must be option 2 - flat rate state pension
27 June 2011
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Ros calls for Government to implement Option 2 of its consultation proposals to reform state pensions - a flat-rate simple state pension paying £140 a week to all those with a full contribution record.


Care is too important to be allowed to limp off the political agenda
27 June 2011
read the article

Press Release calling for the Government to take care reform seriously, with a cross-party agreement on future improvements to care funding.


We must grasp reform recommendations quickly
27 June 2011
read the article

Press Release calling for Government to take Dilnot's recommendations seriously and act quickly to reform long-term care funding.


Could Government face legal challenge to its pension age plans?
19 June 2011
read the article

Press Release ahead of Pensions Bill Second Reading calling on the Government to amend its timetable for state pension age increases and warning of possible legal challenges by women affected.


G&H may be accepted into the FAS
10 June 2011
read the article

Press Release welcoming DWP consultation that aims to allow the G&H pension scheme to be accepted into the Financial Assistance Scheme, thus better protection scheme members who were rejected by the PPF.


Britain's Care Crisis is a catastrophe in the making
1 June 2011
read the article

Press Release calling for proper protection of care home residents in the wake of upheavals and Southern Cross and better funding for long-term care.


Press Release welcoming return of inflation linked bonds
12 May 2011
read the article

Press Release welcoming the reintroduction of National Savings & Investments' 5-year inflation linked bonds, at last offering savers a safe way of protecting at least some of their savings against inflation.


Low interest rate policy damaging consumer confidence
5 May 2011
read the article

Press Release explaining that policy of ultra-low interest rates in the face of high inflation is damaging UK Consumer confidence and therefore negatively impacts economic growth.


Budget Highlights
23 March 2011
read the article

Press Release explaining the highlights of the latest Budget measures, with little comfort for savers and pensioners as they seem to be very low down the Chancellor's priority list.


Respite for savers? - Will NS&I inflation certificates return?
23 March 2011
read the article

Ros welcomes indications in the Budget that National Savings and Investments will be allowed to reintroduce its very popular inflation-linked savings certificates - which were withdrawn from sale just as inflation started soaring.


Budget proposes pension reforms
23 March 2011
read the article

Press Release discussing the Chancellor's Budget proposals to end contracting out and simplify the pension system.


Half a million women let down by the Lords
March 2011
read the article

Press Release highlighting the passionate debate but lamenting the narrow defeat of amendments in the House of Lords that would have alleviated the plight of 500,000 women facing increases in state pension age of more than one year.


Furore over clothing inflation revisions - pension impact overstated?
18 February 2011
read the article

Ros critiques analysis that suggests the underreporting of clothing and footwear inflation means billions have been wiped off pensions. She warns that cpi and rpi revisions happen frequently, so a small change in one item should not be taken in isolation.


Inflation hits 4% - how much evidence does Bank of England need?
15 February 2011
read the article

Press Release commenting on 4% inflation figures, twice Bank of England's targets and very damaging for pensioners.


Bank of England still asleep
10 February 2011
read the article

Ros expresses disappointment that Bank of England failed to increase interest rates from the emergency 0.5% level, despite rising inflation.


Welcome to John McFall's pension inquiry - let's overhaul savings
1 February 2011
read the article

Ros welcomes the new independent inquiry into Pension and Savings reform. Pensions need an image makeover.


What is Government doing to women's state pension age?
28 January 2011
read the article

Ros explains the Government's proposals for increasing women's state pension age and why they are so unfair.


End of DRA is great news
13 January 2011
read the article

Press Release welcoming the end of the Default Retirement Age.


Pensioners in danger from inflation
10 January 2011
read the article

Press release warning that pensioner incomes have fallen for third year running, interest rates need to rise and inflation is a major threat.


Pensions need an image makeover
4th January 2011
read the article

Ros comments on latest ACA survey results confirming disillusionment with pensions and says pensions need an image makeover so people actually want to contribute.


Millions will live to over 100 - don't waste those years
29 December 2010
read the article

Press release welcoming news that millions will live to 100 but suggesting that means we need to rethink our lives and work longer.


Where is the £140 a week pension Green Paper
17 December 2010
read the article

Ros expresses concern that the promised Green Paper on radical state pension reform has not been released, we need the £140 a week pension.


Unlocking the pensions moneybox
14 December 2010
read the article

Ros comments on Treasury consultation on early access to pensions. She believes allowing people to access their pensions would encourage more to contribute.


Age 75 Annuity proposals - the good, the bad and the ugly
11 December 2010
read the article

Ros outlines her views on the Government's proposals to abolish the requirement to annuitise pension savings by age 75.


The nightmare is back - Stripped of our pensions again
2 December 2010
read the article

Ros explains that flaws in the 2004 Pensions legislation have left some pension scheme members without any protection at all, even though they have paid PPF levies and believed they were protected. This surely cannot be happening again and legislation must be urgently changed.


Government hiding the truth about increasing pension ages for women
25 November 2010
read the article

Press Release exposing the fact that the Government's own state pension age calculator has not been updated to reflect the latest proposed changes to women's state pension age, thus potentially misleading millions of women.


What's happened to pensions lately?
24 November 2010
read the article

Ros summarises some of the highlights of the recent proposals for pension reform.


Over 50s have lost confidence in pensions
15 November 2010
read the article

Ros highlights Saga Survey evidence showing that one in five over 50s has debts or a mortgage and comments that one third are not saving in a pension.


£140 a week pension for all new retirees
24 October 2010
read the article

Ros comments on leaked proposals for all new pensioners to be paid at least ?140 a week state pension, thereby ending mass means testing of pensioners.


Bank of England wrong to target savers
26 September 2010
read the article

Press Release criticizing Bank of England Deputy Governor, Charlie Bean, who suggested that monetary policy was deliberately trying to get savers to spend their money, ignoring dangers for pensions and long-term economic stability in an ageing population.


Abolishing age 75 Annuity Requirement unfair
12 September 2010
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Press Release explaining that the Government's current proposals for abolishing the age 75 annuity requirement amount to a transfer of wealth to the very wealthiest pension savers from those lower down the income scale.


Government must not cut state pension by £10 a week - Winter Fuel Allowance should become taxable and permanent
19 August 2010
read the article

Press Release condemning reports that the Government is considering scrapping Winter Fuel Allowances. This would be like cutting state pensions by £10 a week. They should instead be incorporated into the state pension and become taxable.


NEST and auto-enrolment dangerous in current system
16 August 2010
read the article

Press Release highlighting Ros' views on auto-enrolment, explaining the dangers and recommending NEST be put on hold until the problems are addressed.


Increasing State Pension Age
4 August 2010
read the article

Press Release explaining Ros' response to the DWP Review of state pension age, saying longer working lives are inevitable, but calling for measures to reform the labour market


End contracting out to improve pension fairness
2 August 2010
read the article

Press Release highlighting Ros' recommendations for public sector pension reform in her response to the Hutton Review. She makes the case for ending contracting out.


Public sector pensions in a time warp
7 July 2010
read the article

Press Release following report by the Independent Public Sector Pensions Commission, explaining why we need to consider public sector pension reforms urgently. View the press release online here.


Emergency Budget comment
22 June 2010
read the article

Press Release following Coalition Government's emergency budget, outlining the implications for savings and pensions policy.


Queen's Speech - sensible policies so far
27 May 2010
read the article

Press Release welcoming the policy proposals outlined in the Queen's Speech and calling for more radical reforms.


Steve Webb for Pensions Minister - brilliant
14 May 2010
read the article

Press Release welcoming the appointment of Steve Webb as the new Pensions Minister.


Top Ten Pension Policy Issues for New Government
12 May 2010
read the article

Ros outlines her thoughts on the ten most important areas that need urgent attention from the new Government's Pensions Ministers.


Budget is about politics not economics
24 March 2010
read the article

Press Release pointing out the inadequacies of the Budget, with spending still rising despite the debt and deficit mounting.


FAS does not pay 90% of lost pensions - Government spin
21 January 2010
read the article

Ros highlights flaws in the Government's Press Release claiming that FAS victims will get 'at least' 90% of their pensions - they do not even get 90%, never mind 'at least' that!


Harriet Harman is right - longer working lives are inevitable
11 January 2010
read the article

Press Release offering support to Harriet Harman for her comments about the benefits of longer working lives, but pointing out that policy needs to be changed to support this.


Empty NESTs and cracked eggs
8 January 2010
read the article

Press Release commenting on the Government's new name for personal accounts - NESTs - but explaining that many people's NESTs will be empty and their nest-eggs cracked.


British Airways in deep trouble - pension scheme cannot close, what will the Regulator do?
17 December 2009
read the article

Press Release highlighting the challenges facing the Pensions Regulator, trustees and management in connection with BA's pension scheme. Most BA staff are covered by employment terms that do not permit any pay cut (or pension reductions) so the pension scheme cannot be closed. This poses major challenge for the Pensions Regulator - will it use its powers?


Public sector pension costs - hiding the truth
9 December 2009
read the article

Ros comments on the Chancellors Pre Budget Report and highlights that the public is being misled about future costs of public sector pensions. She also wants personal accounts abandoned and policy moves to promote longer working lives.


Personal accounts should be abandoned, not delayed
9 September 2009
read the article

Press Release commenting on recently announced delay to implementation of personal accounts, calling for a radical rethink because personal accounts are more likely to make pension provision worse, rather than better.


Taxpayers rescue bank pensions 100%
21 August 2009
read the article

Press Release asking how it can be right that bankers' pensions are 100% underwritten by taxpayers, while Government has always said taxpayers could not 'afford' to restore pension victims pensions in full, despite Parliamentary Ombudsman, High Court and Court of Appeal verdicts.


Turner wishes he had been more radical - so do I!
3 July 2009
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Lord Turner gave an interview to the BBC explaining that he wished he had been more radical and called for a resident's pension and a faster rise in the state pension age. These are measures which Ros has been calling for since 2002 and radical reform is long overdue.


Incentives and conflicts of interest in RBS remuneration 
16 June 2009
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Ros expresses her concerns about damaging conflicts of interest at the heart of Government policy for dealing with the banks. Incentivising RBS management to get share price up cannot be good for social objectives of wider lending.


Press Release for MetLife Retirement Planning Reform Report
20 May 2009
read the article

Press Release announcing the publication of Ros' independent report examining the issues facing ordinary people trying to plan their retirement. Ros explains the huge risks and uncertainties they face and how the credit crisis has worsened the pension outcomes for millions of pensioners.


Quantitative Easing – more misery to come
7 May 2009
read the article

Press Release explaining why the Bank of England's latest announcement about extending Quantitative Easing further is misguided and dangerous. Such short term thinking is not in our interests and the sums involved as more than the entire annual revenue from council tax and national insurance!


UK budget pension measures
22 April 2009
read the article

Ros gives an overview of the measures announced in the Spring 2009 UK Budget, as they relate to pensions.


Employers pulling out of pensions – with Government blessing
8 April 2009
read the article

Press Release expressing concern that a major UK pensions advisory company is halving its contributions to its money purchase pension scheme and leading the way for other employers to follow. This risks pensioner poverty and worsens our pensions crisis.


Why buying gilts for QE is so wrong
11 March 2009
read the article

Press Release explaining that the Bank of England's decision to print money to buy gilts will not work, the money will either leak abroad or not get to where it is so urgently needed – and pension funds and annuity rates will be severely damaged too.


Dangers of Quantitative Easing
5 March 2009
read the article

Press Release highlighting the dangers of 'printing money' in an environment where inflation is still above the Bank of England's target.


Sir Fred's pension should be around £20,000 a year
26 February 2009
read the article

Press Release explaining that Pension Protection Fund rules should apply to failed bank pension schemes, which would reduce Sir Fred's pension to around £20,000.


Pensions Regulator talks tough on putting pensions above dividends
18 February 2009
read the article

Press Release supporting UK Pensions Regulator's statement highlighting that companies should not prioritise dividends to shareholders ahead of making up pension deficits.


FSCS Bank depositor protection can disappear without notice
16 February 2009
read the article

Press Release warning that FSCS protection can disappear if a bank decides to pull out. Investors will no longer be covered and FSA is not warning of this risk. Investors who take care to make sure they are covered by UK protection are being let down.


Whitewash report on personal accounts and means testing
9 February 2009
read the article

Press Release critiquing the Governments report which claims to show that saving in personal accounts will make almost everyone better off. Ros suggests the conclusions are misleading, ignore the employer contribution, are highly dependent on over-optimistic assumptions and that the report does not stand up to proper scrutiny.


Rate cuts worsen pensioner poverty
5 February 2009
read the article

Press Release warning that cutting interest rates again will worsen the economic outlook and worsen poverty for pensioners. Ros urges the authorities to stop cutting rates and focus on fiscal policy.


Crisis policy response carries big dangers
9 January 2009
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Press Release critiquing Government's emergency policy measures, explaining dangers and highlighting unfairness for pensioners of pension credit assuming they still earn 10% interest on their savings.


Cutting interest rates is like a tax increase or a pension cut - it's wrong!
December 2008
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Ros explains why cutting interest rates even further from here is not sensible and causes significant damage to pensioners living on their savings. She recommends bringing back the 10p tax band to improve incomes for all taxpayers and improving the state pension to help all pensioners over age 75.


Bring back the 10p tax rate!
30 November 2008
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Government reforms in the pre-budget report will not solve our problems and Ros suggests an alternative approach.


Critique of measures in Pre-Budget Report
24 November 2008
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Ros critiques measures in Government's Pre Budget Report, explaining why cutting VAT will not work and recommending reducing direct taxes and increasing pensions instead.


Crazy to bail out IceSave retail deposits 100%
10 October 2008
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Press Release highlighting the dangers of printing money to bail out retail bank depositors 100% while long term savings remain maximum 90% safe. There should at least be some quid pro quo for taxpayers protecting above the £50,000 limit.


Credit crisis measures will worsen the pensions crisis
9 October 2008
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Press Release explaining why the panic measures aimed at stabilizing the banking system will make the pensions crisis worse and lead to a serious pensioners crisis soon. Ros calls for the Government to issue more long-dated gilts and longevity or mortality bonds.


Credit crisis results from duration mis-match, short-term thinking not the answer
9 October 2008
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Press Release suggesting the credit crisis is due to short-term policy which borrowed from the long-term and will have to be paid back. Until policymakers understand this, they will not solve the problem and short term panic measures are not the answer.


Women state pension reforms more spin than substance
October 2008
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Latest proposals to reform state pensions by allowing women to buy extra years of national insurance entitlements will allow more women to receive a full basic state pension, but there are many hidden dangers to beware of.


Transparency needed urgently on public sector pensions
8 September 2008
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Press Release highlighting the generosity of public sector pensions relative to private schemes and calling for transparency in the costs and accounting for these significant future liabilities.


Final salary scheme deficits soar again
5 August 2008
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Press Release commenting latest figures showing rise in final salary scheme deficits for FTSE 100 companies caused by falling equity markets and disappointing corporate bond returns.


Victory again in Judicial Review Appeal
7 February 2008
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Three appeal court judges delivered a stunningly strong verdict against the UK Government.  They dismissed the Government's appeals against the Judicial Review High Court ruling and upheld the verdict that its behaviour in this case has been irrational and unlawful.  They also found that the maladministration caused more than just financial losses, but also led to non-financial injustices which have not yet been recognised at all.


Victory – A decent FAS settlement at last!
17th December 2007
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Wonderful news! Press Release welcoming the announcement from Peter Hain, Secretary of State at DWP, that the FAS will be extended to put it on a par with the Pension Protection Fund, following publication of the Young Review.


Press Release: FAS time to sort it out, not string it out
16th December 2007
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Ros' comments on what would be required for a reasonable settlement of the problems of the FAS to stop the issue dragging on any longer.


Scrooge lives on – Government must compensate
December 2007
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Ros highlights rumours that Numbers 10 and 11 Downing Street are refusing to allow the DWP Ministers to offer a proper extension of the Financial Assistance Scheme before Christmas, despite previous commitments.  There seems to be a row in Government over this issue.


Announcing an all-night vigil outside Downing Street
19th November 2007
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Release explaining that – despite the winter weather - desperate pension victims will spend all night on the pavement in Whitehall outside Downing Street and deliver a letter begging for justice.


Prime Minister's answers to David Cameron at Question Time
20th September 2007
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Ros' comments on extracts from Hansard showing the answers given by Tony Blair to questions from David Cameron which called for improvements to the FAS, asked for a Treasury emergency loan to be given to help his constituent who has leukaemia, is 68 and has had no pension and no FAS.


Breathtaking double standards offering 100% compensation to Northern Rock depositors
18th September 2007
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Release highlighting the injustice of Government immediately rescuing Northern Rock savers with a 100% guarantee, while continuing to maintain that taxpayers can't compensate pension victims who have been struggling for years with no pension.


Release welcoming Young Review report
16th July 2007
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Ros points to the interim Report of the DWP Review of FAS scheme assets, which validates her long-held view that not annuitising these assets would be much better for members, would save money for the taxpayer and would allow increased compensation without extra taxpayer costs.  Appendix E in the review also highlights how a scheme to collect unclaimed life policies such as from Ireland, could raise £230m initially and then £70m a year thereafter.


Press Release criticising ABI scaremongering about the cross-party Lifeboat amendments
15th July 2007
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Ros explains for the press that the cross-party Lifeboat plans would not entail taking any money from other pension schemes or from orphan assets and that the ABI has misunderstood the proposals. Assets with owners and orphan estates need not be touched.


Release commenting on FAS 2006 annual report
28th June 2007
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Ros comments on the FAS annual report which shows this 'assistance' scheme has paid more for official costs of running it than it has to those who lost their pensions.  She calls on the new Prime Minister, Gordon Brown, to draw a line with the past, move away from spin and end the shambles of the Financial Assistance Scheme.


Press Release on FSA Retail Distribution Review
28th June 2007
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Ros' comments on FSA Retail Distribution Review consultation paper on selling savings products in the UK.  Ros suggests the only people called 'independent advisers' should be those who can sell across all products.


Announcement of a Tory Fringe meeting at Labour Party Conference before fifth 'Stripped of our Pensions' annual demonstration
20th June 2007
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Release announcing that the Tories will hold their first-ever fringe meeting at the LABOUR party conference on 25 September 2007, to call on the Government to compensate victims at least to PPF levels, then followed by another 'Stripped of Our Pensions' demonstration.


Comment on Pension Regulator's issue of its first FSD
18th June 2007
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Ros' comments on the new Pension Regulator's issue of its first Financial Support Direction against Sea Containers.


Lords expected to back amendments for fair compensation
5th June 2007
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Release about the expected defeat for the Government in the House of Lords when Tories and LibDems, backed by a number of cross-bench peers will vote on the amendments to Clause 18 of the Pensions Bill, calling for a Lifeboat fund to be established to help pay Pension Protection Fund level benefits to those currently in the inadequate Financial Assistance Scheme.


Announcement of second Judicial Review against Government
May 2007
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Release announcing that victims of scheme wind-ups are being forced to go back to the High Court to Judicially Review the Government's recent budget announcements of extensions to the Financial Assistance Scheme which do not comply with the High Court ruling in the first JR.


Release on Gordon Brown's removal of ACT relief
March 2007
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Ros' initial reaction to revelations about the advice given to Gordon Brown in 1997 ahead of his decision to remove dividend tax relief from pension funds, explaining that the decision was irresponsible.


Press Release cautioning against euphoria about FAS extension
21 March 2007
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Press Release explaining that the extension to the FAS announced in the Budget is not all it seems.


Press release on Budget FAS extension
21 March 2007
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Press Release giving Ros’ reaction to the FAS extension announced in the Budget – more fiddled figures and spin.


Press Release – High court verdict Government irrational and unlawful
21 February 2007
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Press Release explaining that the Government has been found guilty of maladministration and that the High Court says ‘no reasonable Secretary of State could rationally disagree’ with the Ombudsman that the public was badly misled by official pension ‘guides’.


Press Release – Hurray, Government is guilty!
21 February 2007
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Press Release welcoming the verdict in the High Court Judicial Review which found against the Government and ruled that the rejection of the Ombudsman’s report was unlawful and irrational.


Press release announcing 7th Feb demo to coincide with JR
6 February 2007
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Press Release announcing that there will be a demonstration on 7th February – to coincide with the Judicial Review hearings. MPs will join their constituents on Parliament Green to show the Government their support for the victims and to demand compensation be paid.


Press Release -  Government summoned to High Court
December 2006
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Press Release announcing that the Government has been summoned to appear before a High Court judge immediately to explain their failure to comply with the court timetable for the Judicial Review case.  The DWP has effectively disqualified itself from the case and has had to seek permission to remain able to participate!


Press release welcoming PPF levy announcement
December 2006
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Press Release giving Ros’ reaction to the PPF levy announcement which seems prudent and responsible.


Press Release on Government rejection of PASC report
2 November 2006
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Press Release expressing disappointment at the Government’s rejection of the recommendations of the Parliamentary Public Admninstraton Select Committee (PASC) report.


Press Release announcing date for Judicial Review hearing on 7th Feb 2007
21 October 2006
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Press Release announcing that the Judicial Review hearing will take place in the High Court on 7th February 2007 and that the hearing has been expedited due to the suffering of the victims who have lost their pensions.


Press Release on Pension Protection Fund investment principles
October 2006
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Press Release giving Ros’ view on the Statement of Investment Principles announced by the Pension Protection Fund Board


Press release announcing ‘Strippers’ demo in Manchester
26 September 2006
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Announcement of ‘Stripped of our Pensions’ demonstration at Manchester Labour party conference and asking how we can expect Gordon Brown to be trusted to introduce a new constitution, when he has not upheld our old one.


Press release welcoming the PASC report
29 July 2006
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Press release issued after release of the Public Administration Select Committee report, which is strongly critical of Government and calls for urgent compensation to be paid, including to those whose employers are still solvent.


Government bullying victims of pension wind-ups
July 2006
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Press Release highlighting the Government’s shameful attempts to frighten pension wind-up victims into dropping the Judicial Review and also trying to exclude tens of thousands of people from any successful outcome of the European court case.


Judicial Review of Government’s unlawful and irrational rejection of Parliamentary Ombudsman report
14 June 2006
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Press Release announcing the launch of a Judicial Review against the Government claiming its rejection of the Parliamentary Ombudsman’s report is both illegal and irrational.


Continued injustice of Financial Assistance Scheme – even after extension
June 2006
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Note explaining why the announced ‘extension’ of the Financial Assistance Scheme is little more than a public relations exercise, designed to buy backbench silence, rather than helping those who have lost their pensions.


Comments on Pensions White Paper
8 June 2006
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Ros’ views on the reform proposals contained in the Government’s pension reform White Paper.


Press Release announcing Parliamentary Ombudsman’s verdict
May 2006
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Press Release welcoming the Parliamentary Ombudsman’s report and hoping that Government will comply with the recommendations.


Press Release about Judicial Review and European Challenges
April 2006
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Press Release announcing that the Pensions Action Group will challenge the Government both in the UK and European Courts.  The Govenrment faces a Judicial Review of its rejection of the Parliamentary Ombudsman’s report and a challenge in the Petitions Committee of the European Parliament.


Press Release welcoming Parliamentary Ombudsman report
14 March 2006
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Press Release announcing Ros’ reaction to the Parliamentary Ombudsman’s report and welcoming the findings and recommendations.


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