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Saga manifesto sets out a fair future for older people

Saga has called for an end to the compulsory retirement age and a flat-rate state pension with no means-testing in a manifesto it is presenting to political parties.

The manifesto calls for major changes to be implemented to make society fairer for people aged over 50.

It calls for the abolition of dividend taxation and an end to basic-rate taxation of interest for the over-65s. To help combat ageism in employment, Saga argues that employers should not have to make National Insurance contributions for over-60s.

Saga also demands there should be a representative age balance of people entering Parliament, so that Government is better able to empathise with the elderly.

Other demands include more support for carers so that older people can stay in their own homes for longer.

Hargreaves Lansdown head of pensions research Tom McPhail says: “The flat rate more generous state pension is an essential move in the long-term rehabilitation of our pension system so I would cert- ainly support that.

“Similarly, I think there is a strong argument for using the NI system to reward employers for taking on or retaining older workers.

“The abolition of a default retirement age is a desirable goal in itself but it is also essential that the Government supports the accumulation of retirement savings through the pension system.”

Rockingham Retirement managing director Steve Hunt says: “Older people do tend to get the rough end of the stick most of the time and I support the fact that they are calling for more elderly people in Parliament. I do think the Government struggles to empathise with elderly people and the only way it can truly do so is to have older people in Parliament.”


Hopes and Fears

To paraphrase the words of the late, lamented John Lennon; “And so this is Christmas, and what have we done? Another year over and a new one just begun. A very Merry Christmas and a Happy New Year. Let’s hope it’s a good one, without any fear.” Fear is a state of mind that, for […]

‘Annuity delay only suits a few’

Intelligent Pensions has warned advisers not to lose sight of the fact that most clients will need to purchase an annuity by 75 even if the Association of British Insurers’ call to raise the maximum age for buying an annuity to 80 is realised. Last week, the ABI called for the age for compulsory annuitisation […]

Norman setting up low-cost fund firm

Former Credit Suisse Asset Management UK chief executive David Norman is launching a new asset manager offering low-cost passive investment solutions, with plans to launch a fund range this year. Norman has teamed up with Folio Partners founder Gary Mairs to launch TCF Fund Managers. Fund manager John Kenny has joined the duo as partner […]


Guide: how to change your auto-enrolment support

As we approach the two-year milestone of auto-enrolment, employers have had the opportunity to truly assess the capabilities of their chosen support. They are also now realising that getting to the staging date was the easy part, and that support is required for almost every aspect of the day to day running of their scheme. With the three-year re-enrolment window coinciding for many with the total removal of commission and Active Member Discounts from pension-related products and services, as well as the introduction of the pension charge cap in April 2015, many employers will have no choice but to review their support options. But, what is involved in transitioning your auto-enrolment scheme away from your current support options? This guide from Johnson Fleming aims to outline some of these key areas and provide information and discussion points on what you need to consider.


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