Dave Brooks

Before I was pensions dave I was in a band. Best days ever (sorry pensions world). Here’s our band camp page if you would ever like to have a nose (ear... you know what I mean). bookharrison.bandcamp.com

@pensionscanwork Lost you! Sorry man

@PensionsDave You've ruined the twist Dave. We should get a picture before we go.

Just spotted @PensionsDave in the wild...

@David_J_Robbins @pensionscanwork Politics. Keep the opposition guessing

He was less full and frank than he could have been about HMG's intentions re: amendments. They certainly can just reinsert the text the Lords removes, as long as they don't mind a short delay to Royal Assent. But why give the impression last week that the BIll would be amended (without quite saying so)?

Still no Government amendment limiting the reserve power it is asking Parliament for re: mandating asset allocation in default funds of defined contribution pension schemes. So it's either a last-minute amendment or no amendment at all. The latter would not prevent the Government from making a concession when the Bill returns to the Commons - the Lords may remove the provision altogether and MPs could reinsert either the original text or a watered down version. Prior to the minister's comments last week, I would have guessed that the plan was to make a concession during ping pong. But I'm not sure what has changed since the @PensionsUK_ conference. Have expectations changes re: Opposition peers inflicting a defeat even if the powers are more tightly defined? Is an amendment proving hard to draft? Or, noting that the minister never used the word "amendment", was an amendment not planned to begin with (despite the statement that "the power will only be able to be used exactly for implementing the Accord")?

@dontdelay Oddly he's passing on the car and maybe the keys to the mansion in the back ground while he's alive. Unless he's there in ghost form. Anyway, top work from the AI artist there.

Thanks grandad, but that car won’t make it past the end of the lane

The demographic challenges is starting to hit home. Tough decisions needed as baby boomers reach retirement and beyond. A problem for the next 100 years. Fear the current generation of legislators will kick it and not think about it seriously as the answers are hard.

"I should add that according to friends he did dodge £600k in tax but say it was a one off. Our next question is from Barry." Barry: "Is it acceptable that a Green MP disgracefully wore a pink blouse with lime green trousers in parliament?"

When you think you’ve seen it all… Who’s in the right here? x.com/pctarchive/sta…

@John_Stepek @Sjg3G @TorstenBell True. There’s a fair amount of cross talk in here about UK listed.

@PensionsDave @Sjg3G @TorstenBell Problem is a) the asset class prescription, I don't think unlisted is sensible or even where the problem is; and b) clause 40 as it stands

This is disingenuous. Restricting tax relief to UK-listed assets was a key element of PEP (ISA precursor) when they launched and also part of many nations' pension regimes. Very different to what's proposed (currently - presumably will be tweaked) in the pensions bill.

@Sjg3G @John_Stepek @TorstenBell The issue now becomes the VFM rules. If we don’t have mandation some providers follow mansion house and some don’t. They all then get judged on performance and say the ones not using UK productive finance perform better that looks bad. It has become all or nothing.

@Sjg3G @John_Stepek @TorstenBell Isn’t making the default fund a minimum uk percentage exactly what they are proposing? Albeit of a particular asset class. People can and won’t opt out is right so it becomes the default asset class.

Meant to add I’m in the odd position of disagreeing with Ros and Torsten. Intrigued by any proposed amendment.

So we have mandation vs “incentives” as a technical distinction because economically they'll do as similar thing. However, tax relief is meant to reward saving, not steer asset allocation. It shouldn’t be doing both

This is an interesting point as Ros argued for tax relief as a condition based on UK investment. She is opposing blanket legal compulsion of a fixed allocation. No to “you must invest X% in the UK by law”. Yes to “you receive tax relief only if you invest X% in the UK”

Here’s a reminder that civility, decency, and humility are not weaknesses in a democracy, they are strengths. You can fight hard without being cruel. You can stand your ground and still find common ground. You don’t have to tear people down in order to lift others up. Decency is not naïveté. Civility is not surrender. They are strengths and often the surest strategy for lasting success, for individuals and for our nation. In a time when our president traffics in cruelty masquerading as strength, shameless hubris, and the weakness of meanness, our nation needs leaders who show something better: the value of vulnerability, the strength of virtue, and the courage to affirm the dignity of even your opponent—even when they refuse to affirm yours.

X needs a feature where you can turbo repost when you agree with someone so much you just want to repost it again and again. @ZoeJardiniere does this to me all the time! It’s very annoying.

@moneychimp @financial_shaw I’ve been in some meetings and drunk the most minging of brown liquids. Yes please… more thank you!

@PensionsDave @financial_shaw 😂😂😂 Dave knows

I said what I said #tea #fullpartridge

@moneychimp @financial_shaw This has made me laugh more than might be normal!