Prospect Pension There are much more credible assessments.

ifs.org.uk/articles/reduc…

Prospect Pension David Hearne, CFP™ Tom Selby And the majority of people knew without social media !
Television and newspapers, similar to 2004 state pension survey not much changed.

Can't resist commenting that minimum auto enrolment contributions are not 8%, and we have to get up to 8% before talking about 12%.

Prospect Pension Where the pension gap is as a result of time off or working part time, not sure what the solution is?

Surely people can't have a pension for time they haven't worked, especially given public sector pension schemes are worth over half of pay already?

Prospect Pension Adrian Paul Lewis Teachers' Pensions It’s difficult to escape the conclusion that they try everything they can to put people off communicating with them.

Only accepting Twitter DM or WhatsApp from old pensioners is one example, not answering phones for hours, useless staff if you do get answered.

Prospect Pension David Hearne, CFP™ I bet they don't as it has to be on income DWP is separate from HMRC besides those whose income from other sources exceeds their PA. I'd pay tax on it but think pensioners without other income should receive a full pension if it's their only source of income.

Prospect Pension Adrian Paul Lewis Teachers' Pensions Their inability to answer simple questions like “how long will it take to transfer a pension to the surviving spouse” is beyond belief.

The only escalation step is “make a formal complaint” and we’ll respond in 12 weeks.

Prospect Pension Upping to 12% is essential. That in combination with the State Pension gives younger folks a fighting chance. But worried how most will access appropriate advice though. Not as if there isn’t a lot new going on right now.

Prospect Pension Rush The NHS pension liabilities ALONE would consume more than 100% of GDP.

The system is kapoot, finished, at an end. Prepare accordingly.

Prospect Pension I think that is a likely scenario. What will the bigger problems be?

Prospect Pension Elaine #FullRestitution And the triple lock was binned last year.

Prospect Pension Mike Harrison Perhaps they could agree to drop the triple lock and the 2 child policy.

Prospect Pension Ah I see - that’s daft! Caring probably the biggest component of pay gap.

Prospect Pension This is the IFS presenting the views of the architects of the scheme, and even them saying it may not be sustainable.

They knew it wasn't sustainable before, and made minor, fairly toothless reforms.

In some cases the new schemes are more generous.

Prospect Pension It is kicking the can down the road in the worst possible way, so paying all of these unfunded pensions will become the problem of future generations.

Future generations may decide they won't pay them.

Prospect Pension True. More significantly for a policy discussion, whilst it brings billions into the pension system, that comes out of other things. Still may be worth doing but need to consider what those things are.

Prospect Pension It presumably is challenging the long term affordability of the schemes?

Given the liability is greater than the national debt (which itself is at a high enough level to be a major issue), it should be cause for concern. The OBR are relying on growth.

Prospect Pension If you accept the OBR's assessment..

The liability will continue to increase, some events will be blamed and they will say - 'well no one could have predicted that'.

There is a good reason why no private company can afford them.

Prospect Pension Yes, according to the Pension Age report (which I hadn't seen until after I tweeted). Of course, this is less changing the date than recognising (the most optimistic version of) reality, when it will be phased in and the process won't start until Apr 2025 at the absolute…