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FT Pensions Correspondent. Own views.

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Josephine Cumbo
JosephineCumbo
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around 4 of pensioners in the uk had annual incomes of more than 50000 in 2018 19 according to the stats relea
Around 4% of pensioners in the UK had annual incomes of more than £50,000 in 2018/19 according to the stats released today.

There are currently around 12 million pensioners, regarded as those over state pension age.

More info here.
Josephine Cumbo
JosephineCumbo
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an estimated 474000 pensioners in the uk had an annual income of more than 50000 in 2018 19 this is a 13 incre
An estimated 474,000 pensioners in the UK had an annual income of more than £50,000 in 2018/19.

This is a 13% increase from two years earlier when 418,000 pensioners had annual incomes of more than £50,000.
Josephine Cumbo
JosephineCumbo
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some new stats were released by government today on the number of pensioners paying higher rate 40 and top rat
Some new stats were released by Government today on the number of pensioners paying higher rate (40%) and top rate (45%) tax.

Details to follow:
Josephine Cumbo
JosephineCumbo
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pension providers are your customers notifying you when they have accessed pension cash flexibly elsewhere ple
Pension providers: Are your customers notifying you when they have accessed pension cash flexibly elsewhere? Please email josephine.cumbo@ft.com #MPPA
Josephine Cumbo
JosephineCumbo
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2 highlights from the wtw survey ftse 100 companies employer core contributions up to 71 in 2019 from 64 in 20
2/ Highlights from the WTW survey:

- FTSE 100 companies’ employer core contributions up to 7.1% in 2019, from 6.4% in 2018

- FTSE 250 sees a rise to 6.1% from 4.3% in the same time period
Josephine Cumbo
JosephineCumbo
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contribution rates to workplace defined contribution dc pension schemes by ftse 100 employers have jumped to t
Contribution rates to workplace Defined Contribution (DC) pension schemes by FTSE 100 employers have jumped to the highest rate recorded so far, according to Willis Towers Watson’s annual FTSE 350 DC Pension Scheme Survey.
Josephine Cumbo
JosephineCumbo
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4 today the treasury repeated its initial estimate that remedying the age discrimination would add around 4 bi
4/ Today, the Treasury repeated its initial estimate that remedying the #pension age discrimination would add around £4 billion per year to scheme liabilities from 2015.
Josephine Cumbo
JosephineCumbo
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3 today treasury confirms the ruling will apply across public sector pension schemes including the nhs civil s
3/ Today, Treasury confirms the ruling will apply across public sector pension schemes, including the NHS, civil service, armed forces and judiciary.

"Continuing to resist the full implications of the judgment in Court would only add to the uncertainty experienced by members."
Josephine Cumbo
JosephineCumbo
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2 last year the courts ruled 2015 changes to the firefighters pension scheme discriminated against younger wor
2/ Last year the courts ruled 2015 changes to the firefighters' pension scheme discriminated against younger workers. This was because a deal at the time protected older workers from being shifted into a less generous pension scheme, unlike younger workers.
Josephine Cumbo
JosephineCumbo
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govt confirms landmark firefighters pension ruling has wider read out across public sector schemes
Govt confirms landmark firefighters' #pension ruling has wider read out across public sector schemes

The Most Relevant

Josephine Cumbo
JosephineCumbo
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fyi i was asking all week for updates on its position over and in my view responding with an opinion piece in
FYI - I was asking #UUK all week for updates on its position over #USS and in my view responding with an Opinion piece in a newspaper is inadequate, and reflects an organisation that is not comfortable with scrutiny.
Josephine Cumbo
JosephineCumbo
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nhs thread this week i spoke to more than 40 nhs consultants to get a deeper understanding of how the controve
NHS THREAD

This week I spoke to more than 40 NHS consultants to get a deeper understanding of how the controversial annual allowance taper was impacting doctors on the front line, right across the U.K.

The stories shared with me
were deeply alarming.

Read on:
Josephine Cumbo
JosephineCumbo
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on the eve of the critical brexit vote the government is accused of sneaking out changes to pensioner benefits
On the eve of the critical Brexit vote, the Government is accused of “sneaking out” changes to pensioner benefits that could cost mixed aged older couples more than £7000 a year. The DWP announcement was published around 7:20 tonight.

Details to follow

1/
Josephine Cumbo
JosephineCumbo
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crikey bbc now saying if exit poll as wrong in rest of vote as it was in first two seats called then cons coul
Crikey! BBC now saying if exit poll as wrong in rest of vote as it was in first two seats called then Cons could have 80 seat majority.
Josephine Cumbo
JosephineCumbo
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university pension scheme accused of misrepresenting financial health of 60bn retirement fund via ft
University #pension scheme accused of “misrepresenting” financial health of £60bn retirement fund. via @FT
Josephine Cumbo
JosephineCumbo
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new has today confirmed it will jointly establish the independent expert panel to review the pension valuation
New: #UUK has today confirmed it will jointly establish the independent expert panel to review the #USS pension valuation, and jointly develop the membership and terms of reference, with #UCU.

1/
Josephine Cumbo
JosephineCumbo
breaking the work and pensions select committee has begun to probe the pension regulator s handling of concern
BREAKING: The Work and Pensions select committee has begun to probe the Pension Regulator's handling of concerns raised by #USS whistleblower Jane Hutton.

More to follow
Josephine Cumbo
JosephineCumbo
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gonville amp caius college cambridge puts head well above the parapet with this strongly worded statement on s
Gonville & Caius College Cambridge puts head well above the parapet with this strongly worded statement on #UUK's troubled Sept #USS risk survey.

"We deplore the use by UUK of views that are clearly marked as the unauthorised view of the institution"

Josephine Cumbo
JosephineCumbo
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uuk ucu aren t quite singing from the same hymn sheet on the status of proposed benefit cuts they are off the
UUK / UCU aren't quite singing from the same hymn sheet on the status of proposed #USS benefit cuts.

#UCU: "They are off the table. That proposal has gone."
#UUK: "Benefit reform decisions by the JNC are on hold pending the panel’s findings."
Josephine Cumbo
JosephineCumbo
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reading fhrough the joint expert panel report and it is quite bruising for the and pensions regulator key comm
Reading fhrough the Joint Expert Panel report and it is quite bruising for the #USS, #UUK and Pensions Regulator.

Key comments from the Executive Summary of the JEP report to follow:
Total(1) => 0.65249609947205 f_f_QM(2) => 0.28852605819702 indS(2) => 0.063453197479248 indM(2) => 0.22198176383972 indM_1(2) => 0.03849720954895 indM_2(2) => 0.025784015655518 indM_4(2) => 0.044044017791748 indM_5(2) => 0.0040161609649658 indM_6(2) => 0.004863977432251 indM_7(2) => 0.011109828948975 indM_8(2) => 0.009829044342041 indM_9(2) => 0.031898975372314 indM_10(2) => 0.051420927047729 f_f_pTL(2) => 0.33729791641235 f_f_dT(20) => 0.33696579933167