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.
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
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.
The DCLG is proposing reforms to the way local authority pension schemes invest which could save council taxpayers Â£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
Ros explains how tax relief works, comments on its unfairness but cautions against making changes without careful modelling
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.
Ros explains the Government’s proposals to allow people to buy extra years of state pension with so-called Class 3A contributions
Ros comments on the announcement by the Financial Conduct Authority that it will investigate old insurance policies sold between 2006 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.
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.
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.