Investment Life & Pensions Moneyfacts: Lifetime Savings Product - A crystal clear concept

July 15, 2015 Tom Murray

Pensions UK tax relief Annuity retirement age

This article was originally commissioned and published in June 2015 for Investment Life & Pensions Moneyfacts publication. Tom Murray argues that merging ISAs and DC pensions to create a lifetime savings product would transform the savings landscape and bring some much needed clarity.
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2015 UK budget expands pension freedom strategy

April 23, 2015 Tom Murray

Pensions UK pension freedom Lifetime allowance Annuity

  Eat, drink and be merry for tomorrow we die... Oops, maybe not!
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Canada can learn from UK pension reforms

December 04, 2014 Tom Murray

RRIF Pensions UK Canada annuity rate

The UK Government has embarked on a major reform of the pension regulatory environment. Prior to this, the UK‘s policy was to encourage pension saving by giving tax breaks to regulated pension savings schemes, as a quid pro quo, but demand that the retiree use the money saved to support themselves through to death.
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Lovely, Jubbly – pension’s freedoms brings opportunity for the Del Boys

October 24, 2014 Tom Murray

Pensions UK guidance pension freedom del boy

The current spate of pension reform is posited on the idea that pension money is the saver’s own money and that therefore they should be entitled to do what they like with it. However, the ageing population means that supporting people through their old age will become ruinously expensive for the country by the middle of this century. The fact that government is pushing people to save for this very specific reason is being completely ignored in the desire to please the grey vote by giving them full control over their savings.
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Latest pension changes undermine the case for pension tax relief

September 29, 2014 Tom Murray

UKIP Pensions UK tax relief Osborne

The Conservative Party has been heartened to hear that the Chancellor is responding to the attacks from UKIP with a straightforward appeal to the grey vote. He will announce to the party conference today that he is changing the tax rules that apply to income drawdown pots post the death of the pensioner; the so-called death tax that applies to the family who cash in the pension fund. From now on, this will only be taxed at the marginal rate, if the pensioner is over 75 when he dies and will not be taxed at all if the pensioner dies before that age.
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When the eternal optimism of youth is dangerous

June 18, 2014 Tom Murray

Pensions UK Blackrock EU lifespan

A recent survey by Blackrock’s Global Investor Pulse showed that young people aged between 25 and 34 have a stark problem. They believe they need at least £54,000 to live on in retirement. That’s fine; except for the fact that they also believe they need to accumulate a lump sum of £375,500 in order to give themselves this income in retirement.
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Antipodean pension’s strategy is the opposite of our own

April 15, 2014 Tom Murray

lump sum Pensions UK superannuation uk annuities

J ust as the Chancellor decides that people are experienced enough to make the right decisions on pensions, evidence from Australia has surfaced to show that this may be completely the wrong approach.
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Pension’s regime collapses like a House of Cards

March 25, 2014 Tom Murray

pension lump sum Pensions general election UK Admin Plus

Is the recent pension reform by Chancellor George Osborne, which has caused mayhem in the post-retirement market, a stroke of genius or a political masterstroke worthy of Machiavelli? The scale of his reforms took everyone by surprise, last Wednesday; in particular, the abandonment of the compulsion to buy an annuity or drawdown product with one’s pension savings and to allow full access to the money, albeit taxed at the individuals marginal rate.
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TechLife Exaxe Newsletter: February / March 2014

March 04, 2014 Sharon Cronin

twitter and pensions life and pension news newsletter Pensions UK

The February print edition of TechLife is now available online. TechLife is published every quarter and is filled with news, opinion pieces, white papers and information on legislative changes within the life and pensions industry in the UK and abroad.
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Pension kite flying is not constructive

January 07, 2014 Tom Murray

Steve Webb switch annuities Pensions UK Annuity

Minister Steve Webb has obviously had a lot of time to think over the Christmas and with great enthusiasm he announced his latest brainwave in an interview with the Sunday Telegraph on the 5th January. Why, opined the minister, can’t people switch their annuities just like they switch their mortgages in order to get a better deal over time? The comparison sound reasonable enough on a theoretical level but turns out to be quite ludicrous when one comes to consider how it would work in practice.
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