EU Withdrawal Bill in the Lords
Politico Europe interviewed Ros and quotes her views on Brexit – the passage of the EU Withdrawal Bill through the House of Lords
Government trying to weaken consumer protection for pensions
Changes to Financial Guidance Bill would leave pension customers more at risk of scams and fraud, buying overpriced products or paying unnecessary tax. Automatic guidance can help pension customers make the most of their pension savings. Disappointing to see Government bowing to industry pressure to weaken consumer protection. More pension customers will be at risk of scams and losses: I am really disappointed that the Government seems to have bowed to industry pressure and proposes to weaken consumer protection for
New SSAS rules need raise serious concerns
Money Marketing – Ros article calling for rethinking of SSAS new rules
Carillion is a wake-up call for regulators
StockMarketWire – Ros says Carillion is a wake up call for pension regulators
The Value of Older Workers
Ros spoke at a conference of the Resource charity about encouraging later life working.
Did Carillion’s banks demand pension scheme sacrifices as price of more loans?
Carillion suggests some firms treat pension debt as ‘optional’. Did lenders demand pension fund should be sacrificed as condition of bank loan? Trustees and Pensions Regulator must be consulted before scheme security is compromised. Totally unacceptable to insist pension security plays second fiddle – these liabilities have people’s lives attached. Serious questions about banks demands to reduce pension funding as condition of new loans: Evidence is emerging today which suggests that Carillion’s banks insisted further lending to the company was
Making Pensions Popular
Ros spoke to the pensions association FODER Annual Conference in Istanbul about ‘Making Pensions Popular’.
PPF can cope with Carillion but …
Pension Protection Fund can cope with Carillion. Concern that a hard Brexit might lead to PPF facing difficulties. The Carillion pensioners will see much of their pension replaced by the Pension Protection Fund (but future increases will be lower). However, those not yet at pension age or who took early retirement may lose at least 10-20% of their promised pension. The PPF has budgeted for some big schemes to fail and can manage the onboarding of all Carillion’s pension schemes.
Carillion may be canary in the coalmine – Bloomberg
Bloomberg News carries Ros’ comments on how Carillion’s demise shines a light on UK pensions shortfalls
State Pension timebomb
Scottish Daily Record reports Ros’ thoughts on the State Pension timebomb