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Budget 12: Thinktank backs Osborne’s “granny tax”

The IPPR’s analysis of the policy finds that on average it will cost pensioners around £220 a year by April 2016.

The richest 20 per cent of pensioners will not be affected because they have an income of over £24,000 and so do not benefit from the age related allowance. Those in the second richest 20 per cent of the income distribution will be hit to the tune of £347 a year.

The poorerst fifth of pensioner households will be worse of by just £7 per year because most do not have incomes high enough to benefit from the age related allowance.


Budget 12: Chancellor confirms the launch of long-dated gilts

The Chancellor has confirmed the Government is looking at issuing bonds with over 50 years maturity and perpetual gilts. Speaking in today’s Budget, Osborne says: “The debt management office is looking at bonds with over 50 years maturity and perpetual gilts, which Britain last did six decades ago.” Perpetuals bonds pay interest indefinitely, with the […]

Pimco warns of “second Greece” in Portugal

Investment manager Pimco has warned that Europe could face a “second Greece” in Portugal as it continues to struggle with the debt crisis. Pimco chief executive Mohamed El-Erian believes Portugal may need a second rescue package if the original £56bn package fails. Speaking to Der Spiegel, he said: “Unfortunately, that is how it will be. […]


NAPF says pension funds will not go for 100-year bonds

The National Association of Pension Funds says the Government’s proposal to launch 100- year bonds is unlikely to be of interest to pension funds, which tend to prefer 30 to 50-year index-linked debt. Last week, the Treasury floated the idea of issuing “superlong gilts” which would enable the Government to borrow money over the long […]

Nationwide cuts interest-only LTV to 50%

Nationwide Building Society is slashing its interest-only LTV for residential lending from 75 per cent to 50 per cent. The society says the change is in response to changes made by other lenders and takes effect tomorrow.  Nationwide head of mortgages Martyn Dyson says: “A number of major lenders have recently restricted their criteria for […]

Auto-enrolment: tips for employers

The Pensions Regulator (TPR) has released advice on communications for employers, including three tips to help you with your auto-enrolment duties. 1. Allow enough time to select your pension schemeIt’s recommended that you start to prepare for auto-enrolment at least 12 months in advance of your staging date; additionally, give yourself time to choose the […]


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. The comment by the think tank is not well thought out. UK has the lowest state pensions in europe; in fact lower than many developing countries. Those like myself sacrificed holidays, worked overtime to put money into pensions, the income of which Gordon Brown started taxing. On top of this the freezing of allownace. People are most vulnerable in their old age, and to rob them of their entitlements is very sad indeed.

  2. Agree Jack. Yet again the responsible people who have planned for their retirement are penalised while those who do stuff all prosper. According to the Mail today those approaching retirement will lose £300+. What they have forgotten is that for the majority who do not have the luxury of final salary pensions, QE has already slashed the value of their pension – a factor conveniently overlooked. Bottom line is, £3bn was taken from pensioners and not replaced – probably to fund the over generous rise in state pensions and the singular failure of the coalition to deal with public sector finances and pensions.

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