Ros Altmann

Ros Altmann

Peer Ros Altmann, otherwise known as Baroness Altmann CBE, was previously a senior investment manager at Chase Manhattan, and had directorships at Rothschild International Asset Management and NatWest. She came to media prominence as a campaigner around pension rights and eventually served as UK pensions minister under Prime Minister David Cameron. In July 2019 it was announced that Ros was to chair Pensionsync: a pensions fintech firm focused on auto-enrolment.

Ros’s articles for Money Marketing draw upon her considerable expertise in the area of pensions, including SSAS measures, pension guidance, the social care crisis, pension freedoms and DB transfers.

Ros Altmann
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Ros Altmann: Can we ever make pensions sexy?

Pensions are a brilliant product, and the success of auto-enrolment offers a tremendous opportunity for the industry to explain the advantages to millions more workers. However, campaigns to educate, enthuse and engage savers have simply not materialised. Traditionally, pension products were sold to individuals or employers by intermediaries. As such, providers have had little experience […]

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Ros Altmann: Guidance is not good enough in new pensions landscape

With 10 million workers newly saving into pensions as a result of auto-enrolment, there is a tremendous opportunity to help more people plan for a richer retirement. However, without improvements in engagement with pensions and investments, this opportunity may be wasted. Indeed, the key to maximising that potential may well lie with financial advisers. The […]

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Ros Altmann: Without advice Lifetime Isa savers face clear risks

Since it was first proposed, it has been clear to many that the Lifetime Isa is unsafe to sell without advice. Significant dangers arise from the product’s complex design, absence of clear risk warnings, lack of suitability checks and asymmetry of information between customers and providers. The first evidence of such problems is appearing. Lisas […]

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Ros Altmann: Govt bodies must promote value of advice

A vital element of the new Single Financial Guidance Body’s role should be helping the public understand the difference between free, impartial guidance and expert, impartial advice, so consumers recognise the value added by professional financial advisers. The new body merges three old consumer organisations: Pension Wise, the Money Advice Service and The Pensions Advisory Service. […]

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Ros Altmann: Net pay injustice must end now

Auto-enrolment is a much-celebrated success, with around 10 million workers now belonging to pension schemes chosen by their employers. Unfortunately, however, the complexities of pension administration have created a major problem that has the potential to undermine confidence in it. The last thing we need is another pensions scandal splashed across the front pages. Pension […]

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Ros Altmann: Pension tax relief will be left well alone

Rumours are swirling about changes to pension tax relief being announced in the upcoming Budget. Predictions of a shake-up to pension incentives have been touted for many years but, so far, we have only seen tinkering rather than root and branch reform. The £40bn from pension tax relief would come in pretty handy for a […]

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Ros Altmann: Brexit uncertainty not over yet for advisers

Given all the turmoil in politics, I want to look at Brexit this week. Parliament is so engrossed in this ongoing drama that other policy issues are being pushed aside. The prime minister’s Chequers cabinet awayday produced a framework on which negotiations with the EU might be based, with proposals that would acknowledge the needs […]

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Ros Altmann: My solution to the DB transfer advice debacle

The six million people in defined benefit pension schemes who could be enticed by the high transfer values on offer are causing much consternation among parliamentarians, the regulator and financial advisers. The FCA has found a significant proportion of transfer advice to be unsuitable or questionable. Its latest consultation suggests big changes to the way […]

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Ros Altmann: Time to shake up wake-up packs

The industry is sending out the wrong message on pensions Pension saving has responded well to behavioural nudges from auto-enrolment. Now we should build on this success. Millions more people are putting money aside for their retirement, which could offer exciting opportunities for advisers and pension providers. But capitalising on this situation requires new thinking. […]

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Ros Altmann: Can industry fix damaged Isa brand before it is too late?

It has never been more important to encourage saving. But advisers know only too well how challenging the complexities of the UK savings and pensions landscape make it for people. Any trends towards simplification would be welcome, but unfortunately recent developments have moved in the opposite direction. Take Isas, for example. Their simplicity has always […]

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Ros Altmann: HMRC must rethink SSAS measures

This April, SSASs may be hit by new HM Revenue & Customs rules that could undermine thousands of bona fide pension schemes, unless the Treasury can be persuaded to recognise the dangers of its plans. The Government rightly wants to crack down on scams and has recognised SSASs can pose a risk. Even though these […]