September 2023
13Sep

UK. Sunak tells PMQs he is ‘committed’ to pensions triple lock

Criticised over the state's pension policy, the PM says the government is committed to the triple lock He did not specify that this would extend beyond the next general election It follows Commons questions about maintaining the state pension triple lock beyond the next general election Labour leader Sir Keir Starmer asks the PM why Wandsworth escapee Daniel Khalife was not held in a category A prison The PM says such escapes are "extremely rare" and confirms an...

September 13, 2023
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12Sep

Inflation: Pensioners are worse hit —Nigeria

The Nigerian Union of Pensioners (NUP) has said pensioners are the most affected by the inflation, following the removal of fuel subsidy in the country The Nigerian Union of Pensioners (NUP) has said pensioners are the most affected by the inflation, following the removal of fuel subsidy in the country. NUP’s Head of Information, Mr Bunmi Ogunkolade, told journalists in Abuja on Sunday that pensioners are worse hit by the rise in price of goods in the market because of the...

September 12, 2023
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08Sep

Policy Forum: Pensions, Retirement Incentives, and the Role of Inflation

By Tammy Schirle This article describes the role of wage and price inflation for the retirement plans and well-being of registered pension plan members. The federal Public Service Pension Plan is used as an example to illustrate how wage and price inflation can be accounted for in pension design. Alternative scenarios illustrate the importance of pension plan provisions for the standard of living afforded retirees as well as incentives to delay retirement and continue working at older ages. Source @SSRN

September 8, 2023
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05Sep

UK. One in five cut back or axe pension saving – risking a poorer retirement

One in five people have cut pension contributions or stopped saving for retirement due to tighter household budgets, research reveals. Men, younger people and higher earners are the most likely to have pared back or axed pension contributions altogether, despite the serious damage this inflicts to their long term finances. Inflation also means people need to save up even bigger pensions than ever to fund a decent old age. Some 14 per cent of people have stopped saving into their pension and 8...

September 5, 2023
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August 2023
21Aug

UK. Triple lock helps the poorest pensioners

Discussion of the triple lock for state pensions has to take account of the fact that, according to the House of Commons library, “a comparison of state pension alone shows the UK providing a lower level of pension than most other advanced economies relative to average earnings”. The deficit is somewhat ameliorated for those with private pension income. This results in about 2.1 million pensioners living in poverty. Whatever its political intentions, the economic effect of the triple lock was...

August 21, 2023
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18Aug

Prime Minister Says He’s Sticking to UK ‘Triple Lock’ Pensions Guarantee

Prime Minister Rishi Sunak said he’s committed to raising the UK state pension in line with the highest of inflation, wages or 2.5%, even though the longstanding “triple lock” policy is proving increasingly expensive. “Of course the government is committed to its policy on the triple lock,” Sunak told ITV on Wednesday. The most recent data on inflation — prices gained 6.8% in July — and for wages, which rose 7.8% in the three months through June, suggest that keeping the...

August 18, 2023
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18Aug

How to protect your retirement assets from inflation: Morningstar

Inflation is a buzzkill for personal finances, lowering the value of your savings and raising your spending levels. That’s especially an issue for retirees, who often have limited resources and may need them to last a long time. While inflation peaked in June 2022 at 9.1%, it still stood at 3.2% in July. That’s well above the Federal Reserve’s target of 2%. Christine Benz, director of retirement planning for Morningstar, has offered commentary on how to protect your retirement assets. At the portfolio...

August 18, 2023
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04Aug

How trustees and employers can work together in response to higher inflation

Higher inflation has had a huge impact on everyday costs for many defined contribution scheme members. But inflation is not just something that affects scheme members today, it is something that will continue to impact their living standards into the future. And this means that the role of trustee has never been more important. Schemes are already struggling with the challenges that higher inflation is having on the way many of their members think. Many schemes are facing greater pressure...

August 4, 2023
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July 2023
23Jul

The pensions regulator’s annual report and accounts 2022-2023

By The Pensions Regulator The Pensions Regulator (TPR) is the UK regulator of workplace pension schemes. We make sure that employers put their staff into a pension scheme and pay money into it. We also make sure that workplace pension schemes are run properly so that people can save safely for their later years. Read book “here”

July 23, 2023
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21Jul

Pension managers ‘convinced’ inflation is easing, but stress testing to manage assets

Managers of public sector pension funds are “largely convinced” that inflation as a major issue is fading away, but still wary of more economic turbulence, a new report from Ortec Finance has found. The study said that recent economic stress, including rising inflation and interest rates, is leading managers to do more scenario modeling and stress testing to help manage their plans. The Ortec Finance report was based on a survey of 50 U.S. public sector pension fund managers during...

July 21, 2023
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