The Budget promises us that there will “shortly” be a green paper on a “simple, contributory, flat-rate” state pension that is above the level of the means-tested Guarantee Credit. The appearance of the green paper has been rumoured for some months but this the first confirmed sighting, with the Chancellor suggesting that such a pension…
Nigel has already looked in detail at the IoD sponsored report of the Public Sector Pensions Commission. As he says, the report is based on challenging current assumptions about how you measure in today’s money the cost of pension commitments that go many years into the future. Their main complaint is that the Government currently assesses…
Understanding the difference between an arithmetic mean and a geometric mean might sound like something that can be left to statisticians. But now, because of a change proposed in the Budget, it has become crucially important to the great majority of current and prospective pensioners. The difference means that they are all going to be…