by Gareth Morgan on August 9, 2022
There’s been some discussion recently about the use of pension savings, after the age of 55, to help meet the cost of living increases that are affecting many people. You can see some of this discussion on Henry Tappers blog about pensions (a highly recommended read): The cost of living crisis – and the value […]
by Gareth Morgan on June 24, 2021
The House of Commons Work and Pensions Committee is inquiring into the effects of the 2016 changes to the way in which pensions could be used and how to protect pension savers. They have looked at scams already (https://publications.parliament.uk/pa/cm5801/cmselect/cmworpen/648/64802.htm) and are now, in their 2nd part of the inquiry, looking at the options open to […]
by Gareth Morgan on July 27, 2020
PensionBee are a company which “combines and transfers your old pensions into a brand new online plan, managed by some of the world’s largest money managers.” It doesn’t offer advice but points to where that can be found. It emphasises that it offers a simple online service. It has a lot of useful information on […]
by Gareth Morgan on May 13, 2019
This note was originally intended to be a consideration of the effects of the mixed-age couple rules which are to be introduced into the benefit system on May 15, 2019. During drafting, it became very clear that the same sort of considerations apply to many other situations, including those people with higher incomes, especially around […]
by Gareth Morgan on May 13, 2019
The means testing rules for state benefits have, until now, always ignored pension savings until pension age has been reached. That means that people claiming working age benefits do not see them reduced because of any pension savings, unless they choose to take income or capital from them earlier. Once pension age was reached, and […]
by Gareth Morgan on January 16, 2019
At least, that’s what this government has decided it is. Two can live as cheaply as one, as the old saying goes. That would be good news from May 15th. This government has decided that two can live much more cheaply than one. A single person, over state pension age, and claiming Pension Credit, will […]
by Gareth Morgan on January 15, 2019
Burying bad news has a long and dishonourable political history. Choosing a day when the news is dominated by a major, and ideally tragic, story may take the focus of attention well away from other ‘difficult’ stories. The government seem to have continued this tradition by releasing the news of a major blow to pensioner […]
by Gareth Morgan on January 14, 2019
In a sneaky announcement the Government have chosen the evening before Brexit vote day for a written announcement that the rules about mixed age couples – will come into force on May 15th. This means that to claim Pension Credit in a couple, the youngest person has to be over state pension age. Loss over the […]
by Gareth Morgan on January 12, 2018
There is concern, increasingly voiced, by a number of well-informed commentators, about some of the consequences of the pension freedoms. The complexity of choices, the lack of knowledge of most pension savers and the actions of some advisers, particularly around pension transfers, have led to calls for changes that would lead to safer and more […]
by Gareth Morgan on December 22, 2015
Before the pension freedoms of April 2015, the practical reality, for most people with pension savings, was that they had to take an annuity. For those with benefits entitlements that was often a pretty poor bargain. The annuity was taken penny for penny from any means tested benefit entitlement that they had, whether Pension Credit […]