Getting really sick of seeing people say that the state pension isn't a benefit. It is. And it's by far the largest part of welfare spending.

#UKPolitics #Pensions #Welfare

https://fullfact.org/economy/welfare-reform-election-briefing/

NYC Comptroller Brad Lander accused of ‘divesting’ pension funds from Israel https://www.byteseu.com/814844/ #Bonds #BradLander #investments #Israel #IsraelHamasWar #Metro #pensions #ScottStringer #TomDinapoli #USNews

Labour want firms with defined benefit pensions schemes in surplus to be able to access that surplus for investment (suggested by Jeremy Hunt before the election).

You'll recall in the past when DB pension plans were in deficit, rather than make up shortfalls, many were shifted to defined contribution (transferring risk to members) or effectively wound up.

One might argue DB schemes now in surplus *were* supported by their sponsoring firms but this still looks skewed to me.

#pensions
h/t FT

Liz Kendall has told WASPI women who lost out (disproportionally) through changes to state pensions (due to their age & the shift in eligibility) that after a long campaign & much lobbying, they'll not getting any compensation.

This, despite the Parliamentary & Health Service Ombudsman concluding compensation of between £1,000 & £2,950 for every person affected was fair (just).

The Q.; where does this leave Ombudsmen's reports if Govt.'s feel able to ignore the conclusions?

#pensions
h/t FT

How inequality stretches into retirement:

Of those able to pay into a defined contribution pension over half do not think they are saving enough; that will be an underestimate as people often underestimate how much they need to put in a pension for a 'comfortable' retirement.

And why don'e they pay more in? because they can't afford to!!!

Its no use lecturing people that they need to save more for their retirement, first you need to ensure they're paid more!!!

#pensions #inequality
h/t FT

Rachel Reeves proposal to consolidate local authority pension plans into a small number of 'megafunds' seems sensible & draws lessons from Australia & Canada.

But, what will be key is how she shapes (or doesn't shape) any investment strategy requirements.

If she seeks to use the £360bn in assets to back her favoured ventures, there is an interesting issue about the fiduciary responsibility of scheme trustees to their members; Much will depend on the detail

#pensions #investment
h/t Guardian

ICYMI: As Rajiv Prabhakar (OpenU) points out, its not just the gender pay gap that is a problem, its the long-term impact of that gap on pension provision for women. As he points out, this means the cost(s) to individual women of unpaid care continue into later life.

For those who have retired already, there is little (other than benefits) that can be done, for women still in work, any reduction in the gap will have some positive impact on pensions!

#women #pensions

https://theconversation.com/how-the-gender-pay-gap-evolves-into-a-gender-pension-gap-242506

As Rajiv Prabhakar (OpenU) points out, its not just the gender pay gap that is a problem, its the long-term impact of that gap on pension provision for women. As he points out, this means the cost(s) to individual women of unpaid care continue into later life.

For those who have retired already, there is little (outside the benefits system) that can be done, for women still in work, any reduction in the gap will have some positive impact on pensions!

#women #pensions
https://theconversation.com/how-the-gender-pay-gap-evolves-into-a-gender-pension-gap-242506