Private vs public sector pensions – how to avoid a race to the bottom: This is Money podcast

Of all of the tax-raising concepts in Rachel Reeves’ ‘operating out of choices’ Finances, one stood out for a way extensively it was shot down: charging employer nationwide insurance coverage on pension contributions.

The row over taxing office contributions to our retirement pots stepped up a gear this week, because it emerged that a part of such a plan would contain reimbursing public sector pension schemes for the additional price.

This would go away solely non-public sector employers uncovered, their employees’ pensions probably dented and taxpayers selecting up the tab to guard extra beneficiant public sector schemes.

Hopefully, this plan – dubbed ‘disastrous’ by retirement campaigner Ros Altmann – has now been shelved but it surely raises one other essential query, how can we keep away from a race to the underside on pensions?

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Public sector outlined profit pension schemes are way more beneficiant than their non-public sector equivalents, but absolutely the reply is not to tug the previous down too, however to raise the standard of the latter.

On this podcast, Georgie Frost, Lee Boyce and Simon Lambert focus on the distinction between private and non-private sector pensions – and the way we will attempt to enhance our retirement saving relatively than dent it.

Additionally on this episode, the 2 sneaky taxes that Lee loathes, is it value a 39-year-old getting a lifetime Isa earlier than it’s too late, and is Goldman Sachs or Santander proper with considerably totally different rate of interest predictions – and what does it imply on your mortgage?

And eventually, the place are Britain’s new property hotspots and why have issues dramatically circled in some areas?

That is Cash podcast