Rob Yuille

I had the same thought about new entrants. No idea about the relative impacts; guess we'll find out if it is a runner...

People make use of salary sacrifice around the thresholds of £60k and £100k, to stay the right side of those cliff-edges. Limiting the ability to do so would increase the effectiveness of the thresholds (+ revenue from the cap itself), but would make it that bit more painful to trip over them.

Important, interesting, mathsy report on Collective DC pensions by PPI and KCL.
- Modelling shows downsides of CDC
- CDC performs similarly to flex then fix, at best
- New concept of Collective Drawdown (drawdown + longevity pooling) outperforms everything
- But isn't that neat a fit in UK pensions

- Looks like you have to claim it, with no default option. Will limit uptake to some extent, but means no lost account problem.
- What would the market for such products look like? Much depends on answers to the questions above.

- When can people access it, if not for a home? Speech says 'later life' vs 5 years reported in the Guardian. Both valid, but need to be clear about the policy goals.
- How about earlier access, eg for emergencies, and would there be a penalty or not? Important choices, but could add complexity.

- Looks like the Lifetime ISA, costs more but distributes benefits wider. Would it boost the LISA or kill it?
- Who's paying whom? Presumably it's zero NI, and govt pays in gradually, otherwise it becomes more complex. Could be a use case for Open Finance?

At first blush, the Conservatives' First Job Bonus has some appeal in helping address the trade-off of saving for a home vs for retirement: tax cut for young people, no cost to employers or workers. *Still need to fix housing supply though!* And quite a few questions:

I assumed the "different categories" were English and Scottish. Thereby sidestepping the 'British not English' nonsense, but possibly also alluding to the fact that many of us have mixed heritage across England, Scotland, Wales and NI.

Front cover of pamphlet by The Smith Institute. "We can't carry on like this! Policy solutions for the under-pensioned from key players in the sector". All in lower case, weirdly.

Contents page from this pamphlet: Intro - Rachel Reeves Rebuilding trust in savings - Aviva Pensions for for the future - NAPF The role of government - chair of the Work & Pensions Select Committee Winners and losers under the present state Pension - PPI Fair pay and fair pensions - closing the Women's Pensions gap - Unite Issues for small firms and the self employed - FSB Pensions and ethnicity - a problem at to increase - Runnymede Trust Engaging young people - ABI Reaching retirement - Age UK

Rachel Reeves edited this 2011 pamphlet as Shadow Pensions Minister (I just found it in an office clearout). Progress made on some of these issues, but the Pensions Commission might be the first opportunity to grasp them holistically. The editor, helpfully, is now well placed to act upon them.

Where do you get the premise that boosting investment is a principal policy goal of pension tax relief? HMT/HMRC have talked about the purpose of tax relief in the past, and that wasn't it.

Fine to make this argument, but not from a false starting point.

Quite. The focus won't be just employers: scope could include saver contributions, State Pension/age, short- vs long-term saving, and consumer decision-making.

Still risks in all these! But do the analysis, assess trade-offs; if it's an external review, govt isn't bound to the recommendations.

CP24/27: Advice Guidance Boundary Review – proposed targeted support reforms for pensions We are consulting on how we can take forward a new type of support for consumers with their pensions, called targeted support.

Targeted Support consultation and consumer research: www.fca.org.uk/publications...

Wider Discussion Paper:
www.fca.org.uk/publications...

Requiring workplace pensions to be megafund-size is a redesign of the market, and introducing pensions dashboards is design of a new market. The FCA is right to address the challenges and take the opportunities to make those markets work better - and need to work with DWP/HMT to do so. (2/2)

The FCA's consultation on Targeted Support is a big step forward, which should enable providers to guide customers to better decisions, esp about retirement. Also some big questions in the accompanying Discussion Paper - some of them familiar - about pension transfers and the SIPP market. (1/2)

Good illustration of network effects in action!

So it looks like this site won, and I can delete my Mastodon account from when things started to go bad in the other place?