Nathan Long

Think it’s fair to say the honeymoon period is over for Doug King after this. 😬 If whoever comes in isn’t an instant success, the owner is going to become very unpopular, very quickly. This will define his tenure. Where do we go from here? Huge moment. #PUSB

Confirmation from @OBR_UK that it still assumes the extension of automatic enrolment first proposed in 2017 will not start to be phased in within the forecast period, ie not before April 2030.

@JoeDabrowski1 @PensionsMonkey IFS estimates 1 in 5. I imagine much of this will be in DB.

This government really seems determined that we should all have a miserable, cold, impoverished old age telegraph.co.uk/money/pensions…

Would be good to see opportunities for co investment to extend to retail investors too.

@PensionsMonkey The last increase was a spectacular car crash of complexity. Avoid.

While we're on the subject of pension taxation and reform, I wouldn't bet against an increase to the minimum age at which people are allowed to access their private pensions. Currently 55 and going to 57 in 2028. A case can be made for bumping it up to 60 soonish

@dontdelay @PensionsMonkey I'd not considered minimum withdrawals as an option. I do agree that bringing forward some taxation through retirement decision changes would be attractive to Govt. What's the behavioural response to all this though? Food for thought cheers @dontdelay.

Agreed. It could. I just want to see baby steps not wholesale changes, in order to maintain positive sentiment. Too many times in my career I’ve heard What’s the point in pensions? I don’t believe in pensions! But my preferred method to increase tax from post 75 pensions is minimum withdrawals as they do in the states. Would generate immediate, rather than deferred tax, and would likely lead to spending and gifting in order to avoid IHT impact

We already have a pension death tax (for most people, because most people live beyond 75) it’s just anomalous that it’s tax free on death before 75, so that would be an easy one to equalise As would charging NI on employer pension contributions, which are often employee pension contributions that have been salary sacrificed. That’s another anomaly that largely depends on whether your employer offers the facility or not. Could easily be equalised too So there’s two policies, that not only raise tax, but also simplify pensions, and hopefully therefore public engagement

@PensionsMonkey Although please let's hold on til the Pension Review to change death benefits if that is needed. Done properly, they could re-create incentives to buy secure income. Not just been a blindfolded tax grab.

Removing higher rate income tax relief would always have been ambitious (and would’ve broken an election pledge). A new pension death tax and a cut in employer NICs relief still look the most likely pension tax raids thetimes.com/article/4cdf91…

@reidremoney @elliotguthrie @TheFCA Agree with Rob. I honestly think you should flag this. It is so, so important.

@elliotguthrie @LongPensions @TheFCA They are mid court case re TOWIE influencers- re crypto- so tell them

@HelloMcQueen 🎉

👇

@PensionsMonkey Absolutely magnificent.

Ole and Steen coffee shop: Me: I’ll have a ham and cheese croissant please Staff: Sorry we don’t do those Me: <looks pointedly and the ham and cheese croissant on the counter in between us> Staff: That’s a prosciutto and mozzarella croissant Me: …

My tried and trusted method of talking pensions when on a 🚴 ride with Tom until he gives in and invites me on the @thelangcat pod!

@dontdelay Wait til the Lifetime Pension is introduced and then vote with your feet!

You are unhappy about finding out your pension is rated amber or red. But your employer chose your pension provider. What do you do?

@PensionsMonkey Happy to be the poster child for this…

I’m not a welfare expert or a demographer but I know a pensions crisis when I see one. Rather than looking at the 2 child cap as a welfare issue, the government should be thinking in terms of pro-natalist policies and doing everything it can to encourage more British births

@dontdelay 80% of UK workers in companies that provide benefits via salary sacrifice maybe. There are loads of smaller that don’t.

I’m amazed that 80% have

Report here for those wanting the detail 👇 hl.co.uk/features/5-to-…

@HLInvest’s Savings & Resilience Barometer out today. A divide across the Nation. I wonder what changes we may see in the next 5 years with a new Government?

@FelicityHannah Minus 10 mum points

My 8 year old is crying because I told him he has to go to bed before kickoff tonight. Other parents - what are you doing? Shall we just have a nation of knackered kids tomo?

@HigherEdActuary Not universally