{"id":107889,"date":"2019-06-07T23:47:44","date_gmt":"2019-06-07T16:47:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/vote-grabbing-gimmicks-put-pensions-at-risk-letters\/"},"modified":"2019-06-08T00:29:55","modified_gmt":"2019-06-07T17:29:55","slug":"vote-grabbing-gimmicks-put-pensions-at-risk-letters","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vote-grabbing-gimmicks-put-pensions-at-risk-letters\/","title":{"rendered":"Vote-grabbing gimmicks put pensions at risk | Letters"},"content":{"rendered":"


\nDavid Blake, Edmund Cannon and Ian Tonks criticise James Brokenshire\u2019s idea to let first-time buyers dip into pension funds for a deposit on a home, while Sue Ferns says we are still a long way off gender equality in pensionsWe view with deep misgivings the suggestion by James Brokenshire that first-time buyers be allowed to dip into their pension funds to help them get a deposit on a home (Report, 4 June). There is considerable evidence suggesting that people save too little for their old age. Without an increase in the supply of housing, enabling young people to use their pension fund for house purchases will only result in bidding up house prices, largely benefiting existing homeowners.The recent policy of auto-enrolment has been a success in increasing the number of people saving for a pension: it followed a long period of consultation and gained cross-party support. In contrast, off-the-cuff suggestions such as Mr Brokenshire\u2019s risk undermining the pension system. We have been here before: George Osborne\u2019s sudden abolition of the compulsory annuity requirement in 2014 has undermined the annuity market without providing any satisfactory replacement. As we predicted, that policy change resulted in some pensioners losing money after being mis-sold unsuitable financial products. Unless we can find ways to insulate the UK pension system from vote-grabbing gimmicks, there is a significant risk that future generations will have inadequate pensions in their old age.David Blake Professor of finance, Cass Business School Edmund Cannon Professor of economics, University of Bristol Ian Tonks Professor of finance, University of Bristol Continue reading…
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\nSource : theguardian.com
\nRead more…Vote-grabbing gimmicks put pensions at risk | Letters<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

David Blake, Edmund Cannon and Ian Tonks criticise James Brokenshire\u2019s idea to let first-time buyers...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-107889","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-s49","jetpack-related-posts":[{"id":107738,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/brokenshire-criticised-for-suggesting-first-time-buyers-dip-into-pension\/","url_meta":{"origin":107889,"position":0},"title":"Brokenshire criticised for suggesting first-time buyers dip into pension","date":"June 3, 2019","format":false,"excerpt":"\r Officials say housing secretary\u2019s idea \u2018will be risky and does not help the people it intends to\u2019The housing and communities secretary, James Brokenshire, has faced criticism from Whitehall officials after suggesting that people should be allowed to dip into their pension funds to afford the deposit on a first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/life-expectancy-dip-could-wipe-310bn-from-rising-uk-pension-hole\/","url_meta":{"origin":107889,"position":1},"title":"Life expectancy dip could wipe \u00a3310bn from rising UK pension hole\u00a0","date":"May 4, 2017","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Life expectancy dip could wipe \u00a3310bn from rising UK pension hole\u00a0","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18338,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dont-panic-yet-the-brexit-vote-has-had-a-surprise-effect-on-pension-funds\/","url_meta":{"origin":107889,"position":2},"title":"Don\u2019t panic \u2013 yet. The Brexit vote has had a surprise effect on pension funds","date":"July 2, 2016","format":false,"excerpt":"\r The markets went into meltdown and the pound sank against the dollar but giant pension funds have been largely unaffected, with some even reporting gainsDid Brexit shrink your pension? Markets went into meltdown last Friday following the shock result, but early figures on its impact on UK pension funds\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83035,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/may-pledges-to-fine-company-bosses-if-they-endanger-staff-pension-funds\/","url_meta":{"origin":107889,"position":3},"title":"May pledges to fine company bosses if they endanger staff pension funds","date":"March 18, 2018","format":false,"excerpt":"\r New criminal offence of neglecting pension responsibilities to be announced this weekRogue bosses will face fines or prosecution for putting the pensions of their workers at risk under new laws to be unveiled by the government.Ministers will confirm this week that they will target reckless employers with new rules\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":130048,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pension-funds-crisis-forces-65bn-bailout-by-bank\/","url_meta":{"origin":107889,"position":4},"title":"Pension funds crisis forces \u00a365bn bailout by Bank","date":"September 29, 2022","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Pension funds crisis forces \u00a365bn bailout by Bank","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9280,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/savers-withdraw-6bn-from-retirement-funds-after-pension-reforms\/","url_meta":{"origin":107889,"position":5},"title":"Savers withdraw \u00a36bn from retirement funds after pension reforms","date":"March 28, 2016","format":false,"excerpt":"\r Total amount that British over-55s have taken out of pensions since shakeup is lower than some commentators predictedSavers have withdrawn almost \u00a36bn from their retirement funds after the introduction of pension reforms last year.New industry figures show that just over 213,000 cash lump sum payments totalling \u00a33bn were made\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107889"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=107889"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107889\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=107889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=107889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=107889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}