Central Bank of Ireland’s Post

🔎 The Central Bank of Ireland has published important research outlining the key challenges for consumers when it comes to planning their pension and retirement income. As the CCPC plays a key role in educating consumers on personal finance issues and financial products, including pensions, we welcome the Central Bank's research and are keen to apply the findings to our pension education and literacy initiatives in the future. 🔗 Check out the research here: https://bit.ly/46cBvGN #pensions #Ireland #retirement 

Lets talk inflation and pensions 📈 Inflation, as we've observed, can gradually erode the purchasing power of your funds. if you choose to keep your money idle, such as stashing it under your mattress or depositing it into a low-interest savings account. One effective strategy to safeguard your wealth against the impact of inflation is to consider investing in a pension, which typically demonstrates a growth rate outpacing inflation over time. Pensions offer a range of additional advantages that can help mitigate the effects of inflation: 💡 Your employer contributes to your pension fund on your behalf. 💡The government provides tax relief, boosting your contributions. 💡You stand to gain from the compounding interest effect. #FinancialPlanning #InflationProtection #Investing #RetirementPlanning

As a pensions journalist with over 30 years' experience, I believe that making pensions a little bit more liquid to their members through a savings sidecar could be the catalyst that finally adds some jet propulsion to auto-enrolment with somewhat glacial progress since 2012. The biggest pension priority for the new government must be to rectify the paucity of pension savings in the UK. This inadequacy merely scratches at the surface of the pensions story. Many adults cannot even cope with the financial vicissitudes of everyday life. Half of UK workers would struggle to pay an unexpected expense of £300 in an emergency according to Nest Research. As Penny Cogher concludes in my article published today : "The success of the early trials means sidecars are likely to gain momentum. Perhaps this is a relatively easy quick win for a new government?" A  big ‘thank you’ to all my contributors especially  Will Sandbrook of Nest Insight;, BlackRock and Resolution Foundation, Tim Gosling Tessa Page, and Lydia Fearn The full article can read  today at online: https://lnkd.in/egdNQMdk  #pensions #policy #auto-enrolment #lawreform #compliance #payroll #definedcontribution #financialrelations #Labour #Pensionspolicy

Reminder to those that need it that today is the last day to register for a postal vote, if you are going to be away on 4th July and need to vote that way. Looking at the manifestos from the main parties, the pensions landscape features quite prominently. A focus on UK investment seems to be a constant, but we have also seen references to consolidation, the Triple Lock/Triple Lock Plus, the gender pensions gap, Mineworkers Pension Scheme, WASPI women and the Paris alignment of pension funds amongst other things. And people say working in pensions must be boring! I think pensions is anything but boring and we definitely have interesting times ahead. #ukgeneralelection #electionmanifesto #pensionslegislation

Passing on pensions is a very tax-efficient way to spread your wealth as part of your legacy planning. Inheriting a pension can be a life-changing legacy for children or grandchildren. Any planning involving pensions should always involve advice from a qualified financial adviser. Many people only start thinking about inheritance when they’re writing their Will*. Deciding who gets what, and how much, certainly focuses your mind. But there is real value, and tax-efficiency, in financial planning that considers retirement and inheritance as part of the same long-term, family financial plan. Read more: https://lnkd.in/eqw7f2KN

The Pensions Policy Institute is today releasing an independent research report authored by Nick Hurman. The report, "What can the UK learn about other countries’ approaches to accessing DC savings?" This report gathers and analyses evidence from the US, Canada, Australia, New Zealand, the Netherlands, Denmark, Chile and Singapore, and offers some suggested lessons for the UK when thinking about the challenge of enabling good outcomes for those who will need to access benefits from DC pension arrangements. https://lnkd.in/ewnPxfT8 The Pensions Regulator Columbia Threadneedle Investments EMEA APAC Legal & General Investment Management (LGIM) Standard Life UK Barnett Waddingham #decumulation #pensions #definedcontribution

Passing on pensions is a very tax-efficient way to spread your wealth as part of your legacy planning. Inheriting a pension can be a life-changing legacy for children or grandchildren. Any planning involving pensions should always involve advice from a qualified financial adviser. Many people only start thinking about inheritance when they’re writing their Will*. Deciding who gets what, and how much, certainly focuses your mind. But there is real value, and tax-efficiency, in financial planning that considers retirement and inheritance as part of the same long-term, family financial plan. Read more: https://lnkd.in/eSfaBHeV

Passing on pensions is a very tax-efficient way to spread your wealth as part of your legacy planning. Inheriting a pension can be a life-changing legacy for children or grandchildren. Any planning involving pensions should always involve advice from a qualified financial adviser. Many people only start thinking about inheritance when they’re writing their Will*. Deciding who gets what, and how much, certainly focuses your mind. But there is real value, and tax-efficiency, in financial planning that considers retirement and inheritance as part of the same long-term, family financial plan. Read more: https://lnkd.in/eqw7f2KN

Very interesting report from Pensions Policy Institute (PPI) on what's happening in other countries as people access their DC savings. What's seems clear is that the years of saving required to build a decent DC pot become ingrained and people find it difficult to revert to spend-mode. In fact, people's inclination is to want to continue to accumulate in the so-called decumulation phase. This stood out for me: Knowing how to strike a balance between having enough income to maintain your standard of living and having enough to get through your lifetime is described as "the nastiest, hardest problem in finance" by Bill Sharpe, Nobel Prize-winning economist. It's worth a read: https://lnkd.in/eQtDfWvJ