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
Ros gave a presentation to the Briefing Circle outlining her views on why we have a pensions crisis and new thinking that is required to finance our aging population.
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.
Ros explains why QE has taken money from people’s pensions and given it to borrowers and banks, leaving pensioners poorer in retirement
Ros was interviewed for ITV lunchtime, 6 o’clock and 10 o’clock News explaining that Tesco pension scheme changes still mean the scheme is a really good deal for staff
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
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.
Ros highlights that the Bank of England’s policy of Quantitative Easing has taken more money from more people’s pensions than Robert Maxwell ever did!
Letter published in the Financial Times where Ros explains how using pension fund assets to stimulate economic activity is far better than cutting pensioner benefits or raising taxes.
Ros gave a speech at the Eversheds Annual Pensions Conference in London, explaining that people cannot rely on others to deliver them decent pensions, they increasingly have to look after themselves.