View more on these topics

IFS: Pensioner benefits to rise £12bn in a decade

Pensioner benefits will cost £12bn more in 2019 than they did ten years previous, the director of the Institute for Fiscal Studies claims.

Writing in The Times today, IFS director Paul Johnson says funding defined benefit public sector pensions and the slow rise of the state pension age will cause bills to soar.

He says: “Recent work by my colleagues at the IFS suggests that most people retiring now will be better off in retirement than they were on average over their working lives.

“This is probably the greatest triumph of social policy during my lifetime. But understanding and policy decisions often lag behind facts such as these.

“The continuing “triple lock” on state pensions, so that they rise by whichever is the fastest of prices, earnings or 2.5 per cent, and the continued protection of benefits such as the winter fuel allowance, must be seen in this context.”

Johnson says costs could only be brought under control by cutting benefits and services for older people, increasing taxes, or making cuts to other areas of Government spending.

He adds that middle-aged and retired people have “been spared most of the effects of austerity” following the financial crisis.

Recommended

Canary-Wharf-Buildings-London-700x450.jpg
1

FCA warns of continuing conflicts on in-house investment models

A number of wealth management firms and private banks are continuing to fail in monitoring how their in-house investment propositions are being used by clients, an FCA thematic review has found. The findings of the review into conflicts of interests arising from the use of in-house propositions found that firms with large amounts of assets […]

FCA-FSA-Building-Sky-Contrast-700x450jpg
6

FCA reveals 11% fall in bank adviser numbers

The number of bank and building society advisers continued to fall this year, while the number of financial advisers experienced a slight drop, the latest FCA figures reveal. Figures released by the FCA show the number of bank and building society advisers fell by a further 11 per cent between January and October, from 3,556 […]

10

Tom Baigrie: Could this be Hector Sants’ redemption?

Most weekday mornings, I stumble from bed to a rowing machine, turn on the Today programme and row 5km in 20 minutes.  Quite often, the pace gets faster and faster along with the usual morning routine of pressure groups, politicians and charities demanding more spending and state meddling. However, one morning last week was different. […]

Natixis video: Making smarter use of asset classes

Content supplied by Natixis Global Asset Management This video from Natixis Global Asset Management focuses on Active Share. One strategy for the smarter use of equity investments is ensuring you get what you pay for. According to the company, looking at Active Share can give you a better perspective on where performance comes from. Active […]

10 September thumbnail

Johnson Fleming set to hold auto-enrolment support webinar

Two years since the process of auto-enrolment began, the looming re-enrolment deadline provides the perfect opportunity to assess whether the support you have in place, which may well have been hastily selected at the start, is fit for purpose. Johnson Fleming is holding a webinar on 10 September at 11:00 to discover the key issues and concerns you should consider when thinking about your current support options.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. And so what – this must be set alongside the fact that the UK pays the lowest State Pension in the OECD when measured as a percentage of average salary. We seem to think it more important to spray money (as bribes) in Foreign Aid.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com