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Tilley: Will IHT reforms really threaten pension saving?
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Lisa Webster: Charity giving from pensions
I’m sure many of you reading this on SIPPs Professional will have had more than a few conversations with clients about estate planning – especially considering the news that pensions are to be included in the value of the estate for IHT purposes from April 2027.
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Lisa Webster: Salary sacrifice cap will hit some hard
The headline story from Budget 2025 - in the pension world at least - was the plan to cap National Insurance relief for pension contributions paid through salary sacrifice at £2,000 a year.
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The petition, which has so far reached 130,768 signatures, was set up on the 38 Degrees website, but to qualify for Parliamentary time petitions must be created on the official petition.parliament.uk website.
Aegon has slammed the process as “smacking of Yes, Minister bureaucracy.”
The petition calls on Work and Pensions Secretary, Esther McVey, to keep to previous Government pronouncements and to follow through with delivery of the pensions dashboard.
Normally once a petition reaches 100,000 signatures it is considered for debate in Parliament, but only if petitions filed use the Government’s petition service.
Kate Smith, head of pensions at Aegon, said: “It’s ridiculous in this digital age that the Government insists on people using its own petition service to get something debated in Parliament, and smacks of Yes, Minister bureaucracy.
“The pensions dashboard is an important consumer-facing initiative and one that is backed not only by the pension industry but by many others.
“The fact that over 130,000 people have signed the petition in a matter of weeks shows people’s passion for the pensions dashboard and has generated welcome publicity.
“The Government needs to acknowledge this and debate the issue in Parliament.”
Tens of thousands have called on Work and Pensions Secretary Esther McVey not to shelve the proposal, with the count up to 126,527 at the time of writing.
The petition, on website 38 Degrees, reads: “The Welfare Secretary Esther McVey wants to 'kill off' a new government website which would help millions of people keep track of their pensions throughout their careers, because she thinks it's not the Government's job to help.
“Without it millions of pension pots are at risk of being lost.
“According to estimates by the Department for Work and Pensions, 50 million pension pots will be lost by 2050 without an official website to help workers to keep track of savings through their careers.”
It added: “A huge petition signed by thousands of us will show the Government we expect them to keep their promises and continue to roll out the pensions dashboard.”
The success of the petition has been backed by fin-tech firm Origo and managing director Anthony Rafferty said:
“The petition launched by 38 Degrees, in response to media reports that the pensions dashboard might not go ahead has passed 100,000 signatures, showing the depth of feeling and the support that the initiative has in the country.
“The benefits of the pensions dashboard are easily seen and have clearly struck a chord with people.
“We at Origo have been passionate supporters of the pensions dashboard since the initiative was launched, believing it is essential to help individuals engage with their retirement planning, particularly in the new pensions environment which was ushered in with the Pension Freedoms.”