A modest proposal to resolve the public sector pension crisis

November 02, 2011 Tom Murray

Pensions superannuation Life and Pensions Public sector pensions HMRC

It is upsetting for everyone to see public sector workers driven onto the streets in an attempt to preserve the meagre lifestyle that they have been promised after a lifetime’s devoted service on behalf of Her Majesty. The despair of the workers at the proposed delay in giving them their pensions and the significant reduction in value of those pensions can only cause distress to any decent citizen observing the situation.
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HMRC drawdown confusion shows need for change

June 22, 2010 Tom Murray

Steve Webb Pensions UK Annuity Life and Pensions

Her Majesty’s Revenue and Customs do not usually appear to be floundering but their recent contradictory positions on the taxation of drawdown transfers for the under 55s shows that someone in there is completely out of their depth.
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Reducing longevity risks in defined benefit pensions

June 09, 2010 Tom Murray

Pensions UK Life and Pensions HMRC tax free lump sum

Defined benefit schemes are beneficial to society, giving members, lucky enough to be in one, stability for the future. But many schemes are in severe danger of collapse, under pressure from increasing longevity within the population. This pressure from payments carrying on far beyond what was originally envisioned will break many schemes, forcing people into money-purchase schemes, which have no guaranteed results and therefore risk leaving more people dependent upon the state. Given the enormous cost this would impose on society, and therefore on business just as much as individuals, we all need to start thinking of more radical solutions for stabilising those defined benefit schemes currently in existence.
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New Coalition allows drift in life and pensions sector

May 17, 2010 Tom Murray

Steve Webb IHT Pensions Retail Distribution Review FSA

The announcement of the new David Cameron’s new Liberal-Conservative cabinet has given signals that the ‘new politics’ will not result in any new thinking on policy for the Life and Pensions sector, at least in the short term. The two key appointments were at the ministerial level; Steve Webb as the pensions minister and Mark Hoban as the Treasury minister.
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L&P industry under attack from all sides

May 06, 2010 Tom Murray

Goldman Sachs IHT Pensions UK Life and Pensions

Goldman Sachs plays into the hands of the regulation mob
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