Martin Willis

Pensions person. Gashead. All views are own

[Martin Willis @martinswillis]

@GottfriedNFL @nfluk_tickets I’m interested in this too. Particularly to get a feel for Madrid on sale tomorrow.

[Martin Willis @martinswillis]

@HawthorneSJJ I would not be surprised if there was some form of compulsion. Can’t see how tax breaks fit with the budget. Also a chance they just go with the compact and disclosure requirements that highlight projected returns and see how that goes initially, before switching to compulsion.

[Martin Willis @martinswillis]

@RachelGilmourLD To be fair at least your train turned up, mine was just cancelled completely. Welcome to half term on public transport.

[Martin Willis @martinswillis]

@vhb1978 @Earth2075 I had a taxi driver go absolutely nuts at me for driving in one of these (outside of the operational hours) once.

[Martin Willis @martinswillis]

@David_J_Robbins @PensionsMonkey My understanding is it’s about 380 having left and 250 phased withdrawal.

[Martin Willis @martinswillis]

@David_J_Robbins @PensionsMonkey In my experience is mainly the employer contribution rate increase. There are many more private schools that have closed TPS to new hires or have engaged in costs sharing initiatives (where increased costs of TPS are covered in part through salary adjustments).

[Martin Willis @martinswillis]

@PensionsMonkey Absolutely. There are quite a few participants in public sector schemes not funded directly by treasury and they’ll be hit hard by this.

[Martin Willis @martinswillis]

@David_J_Robbins I agree, and likewise am cynical as to whether the funding will cover all of the difference, especially given pay awards will mean greater contributions are needed. Also I read that 5bn as being contributions to ps schemes, not all participating employers are funded by treasury.

[Martin Willis @martinswillis]

@jamiesmart Have you tried Threads? As much as I’m not a fan of the Facebook/Instagram platforms it feels like a lot of people have moved over recently. It might be a viable alternative (and I hope in the future this platform rediscoveres its identity).

[Martin Willis @martinswillis]

@engineering I’ve persevered with this platform throughout its long deterioration, as I believed the positive voices would ultimately outnumber the negative. But I think this is the end for me.

[Martin Willis @martinswillis]

@HawthorneSJJ @mikemilleresq @PensionsDave Probably yes, but I can’t see it happening!

[Martin Willis @martinswillis]

@David_J_Robbins @OBR_UK Exactly this - hard to see how it doesn’t pass through

[Martin Willis @martinswillis]

@Ben_S1990 I can’t speak for others but as someone who joined this year this is correct for me (and 2028 being in the UK).

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[Martin Willis @martinswillis]

@jamiesmart We also have a very excited reader this evening thanks to @Wonder_Bookshop (he couldn’t believe the real Jamie Smart had signed it!)

[Martin Willis @martinswillis]

@bushontheradio To be fair these are good…

[Martin Willis @martinswillis]

@HawthorneSJJ @PensionsDave I do worry about the impact additional NI would have on employers heavily exposed to high contribution schemes (e.g. public sector) it would be typical if a pivot to protect public sector workers hammered their employers (ultimately it’s always the employees that take the hit)

[Martin Willis @martinswillis]

@HawthorneSJJ @PensionsDave Personal view is you’re right. Gov wants investment in pensions to support UK productive asset investment so why undermine confidence. That said the NI suggestions floating around may turn out to be a self fulfilling prophecy…

[Martin Willis @martinswillis]

@MartinJTilley @PensionsDave You’re right, it’s a nightmare whether you give notice or don’t. I suppose a middle ground is the kind of transitional protection we love so much, but it won’t generate the desired revenue and just complicates things even further.