Money and mental health problems can trap people in a vicious cycle. Financial pressure harms wellbeing, and poor mental health makes earning and managing money harder. It’s common – but not inevitable. 💜 We’re working for fairer systems and practical support to break this vicious cycle.

Most welcome news that @johnmcdonnellmp.bsky.social and Apsana Begum MP have had the Labour whip restored. Let’s hope the olive branch is extended all the others who have had the whip removed for voting with their conscience.

Next year’s increase in the Basic State Pension and the New State Pension increase is nothing to do with the triple-lock. The increase is in line with average earnings, as required by law. It would be the same, with or without the triple-lock.

Sign our petition calling on government to end the gender pension gap for public sector women ✍️

🚨 Prospect research reveals women lose out on £7,600 a year in retirement. A 36.5% gender pension gap – that's double the gender pay gap. This inequality is unacceptable. Government must take real action now to close the gap.

Still looking forward.

So what happened to the second stage pensions review on adequacy? Despite clear hints that it was all ready to go and that we would find out on the 15th, nothing. Has someone lost their nerve?

We have now published in full our response to the government’s ‘Pathways to Work: Reforming Benefits and Support to Get Britain Working’ Green Paper. You can read it in full here 👇 🔗 www.moneyandmentalhealth.org/policybriefi...

La Nonna menu,

Read the roadmap but watch out for the potholes! www.gov.uk/government/p... Workplace pensions: a roadmap - GOV.UK

A Pensions Bill to “Make provision about pension schemes; and for connected purposes”. 104 pages; 102 clauses and one schedule. Let’s hear ideas of what more should be included to make pensions better.

Looking forward to the forthcoming DWP research publication “Planning and Preparing for Later Life 2024”. Although it’s rather vaguely expected in “June, July or August 2025”.

Report in the FT that “UK considers taxing pensioners to claw back winter fuel payment”. But the report is unclear whether this just means including the WFP in taxable income, or if it means some sort of pensioner supertax. on.ft.com/4mwGDx4

“we should be ashamed” youtu.be/IW7WW0IF-I0?...

What & When? The one sentence detail free statement on the Winter Fuel Payment will make things worse, unless and until there is clarity from the government on what is proposed and when it will be paid. The problem is that there is no easy solution.

If a government mandates pension fund investments it is providing an implicit guarantee of returns/benefits. The fund becomes functionally equivalent to an unfunded pay-as-you-go scheme, but one with exceptionally high management costs.

Is it overly pedantic / nerdy of me to have an issue with the DWP describing AE like this: "the employer contributes at least 3% of their salary to the pot too"? (www.gov.uk/government/n...) It's not 3% and it won't be until the DWP brings in contributions from the first £!

Today we’ve published our new 2025-2030 strategy 🎉 We’re working for a world in which the vicious cycle of money and mental health problems is broken. 🎬 Watch our Chief Executive @helenundy.bsky.social explain and read more here 👇 🔗 www.moneyandmentalhealth.org/about-us/our...

Great to join @age-uk.bsky.social in Westminster yesterday for their Act Now Age Better launch. @independentage.bsky.social fully support the importance of upholding the rights of people as they age and the need for a Commissioner for Older People in England and Scotland

A longer bit on the LGPS after last week’s elections open.substack.com/pub/tompowdr...

The Lord Speaker, after consultation with Her Majesty’s Government, is satisfied that it is in the public interest to recall the House … at 12pm on Saturday 12 April to take forward legislative proposals to ensure the continued operation of British Steel blast furnaces is safeguarded.

Pensions Goth blog: Lord Davies on pensions inheritance tax - closing the loophole! pensionsresearch.co.uk/lord-davies-...

At just £3/hr, Statutory Sick Pay forces people to push on at work when ill or struggle to pay the bills, causing extra stress & anxiety at an already difficult time. Thank you @daviesofbrixton.bsky.social & @mindcharity.bsky.social for highlighting the mental health impact of low SSP on workers ⬇️

Making it clear, this time from someone who knows what they are talking about. www.rcpsych.ac.uk/news-and-fea...

Canada giving Marco Rubio the tiniest red carpet they could find in a thrift shop somewhere.

Labour MP Neil Duncan-Jordan: "There are choices that govts can make.. one of the choices that the govt could make is how to raise money from wealthy corporations & individuals" Spot on. Labour could target the super rich. Instead they're targeting people on benefits.

That's a full house on our amendments to the Bill - with the Minister committing to addressing all 3 in the code of practice or guidance. We'll be working closely on the next stages to make sure the change is delivered. Big thank you to Lord Davies of Brixton, & all the Peers who spoke in support.

We have another win in the Mental Health Bill! 💥 Last night the Minister commited that there will be an 'explicit requirement' to offer access to the Mental Health Breathing Space scheme - giving more people respite from debt fees, charges and collection activity. www.linkedin.com/videos/urn:l...

The idea that so-called “pension fund surpluses” provide a key to economic growth is nonsense. There is no reason to treat one part of global pension scheme assets any differently from the rest.

These misleading articles about public service pensions will always be with us. The upside is that, for now, those with responsibility for these schemes just ignore them. Kudos to all involved for managing to pivot from stories about estimated scheme liabilities after they fell significantly though.

Love this new page that shows the impact MMHPI has had. Do take a look if you've a minute... www.moneyandmentalhealth.org/timeline/

Have you made any attempt to assess the significance of the difference between 5 and 3, given a sample of 13, when compared to the null hypothesis that it’s 50/50?

As if ex-employees of Arcadia haven’t suffered enough! This High Court judgement merits close study, but it seems to imply that pension scheme members come down the order of priority. url.uk.m.mimecastprotect.com/s/aaM-CXL8Ei...

We don’t know the proposals yet (Come on! Where’s the Bill?), so it’s impossible to be sure. But it does seem unlikely that we would get the whole £160bn from refunds. The real problem, however, is the idea (Where did that come from?) that gilts were the best place to invest DB pension funds.

So the time I spent puzzling over the role played by Newcastle GPs was wasted!

Joint press release from No. 10 and HMT on DB scheme surpluses. I’m very happy that the press statement makes a number of explicit references to surpluses being “given to scheme members as additional benefits.” Let’s hope that scheme members get consulted . www.gov.uk/government/n...

Pensions Special! How to save, boost, protect & take your pension. Tue @itvMLshow 8pm. One of the most important shows I'll do, pls watch & spread word. How to start a pension, consolidation, how to get your money out & more. GOT QUESTIONS JUST REPLY HERE #MartinLewis

Note the reference to the entry of immigrants to the UK via “motor boats from France”.

I know that views on the treatment of 50’s women are mixed. But the government’s failure to give serious consideration to the key recommendations of the PHSO should be of wider concern.

We shouldn't means test any benefits: raise taxes on the rich if we think they get too good a deal. Means testing: 1. Increases stigma. 2. Reduces uptake amongst the eligible. 3. Increases damage of admin errors. 4. Makes the system opaque, leading to awful earnings incentives.

"Although he may not entirely succeed in explaining why Labour wins, Douglas Beattie has succeeded in delivering an interesting and enjoyable read" 📚 Lord Davies of Brixton reviews @douglasbeat.bsky.social 'How Labour Wins (And Why It Loses): From 1900 to 2024' bit.ly/40w2taR

Torsten Bell appointed to DWP ministerial team.

It would be interesting to see stats on the propensity of sponsors to allow higher increases than scheme rules require. My sense is that it has fallen off a cliff over the last 10 years or so (even though schemes are probably more likely to be in surplus now). www.theguardian.com/money/2024/d...

Neil Duncan-Jordan expresses the frustration of a newly elected Labour MP: labouroutlook.org/2024/12/19/l...

Govt. response on phase 2 much as could be expected “…. we are committed to a second phase focused on retirement adequacy, of which we will provide further details in due course.” There is a slight hint (no more) in the follow up that the DWP might be keener than HMT on making progress.

Great to be in Westminster parliament tonight to support friends at CSPA and NPC to celebrate 10 years of their #LaterLifeAmbitions coalition. Lots of work to do together, now more than ever

Looking forward to an answer on Wednesday to my topical question “to ask His Majesty’s Government whether they have paused phase 2 of their pension review, and if so, why?

It’s not the people who will retire after forty years of saving who are the biggest problem!

We already know that pensions are becoming increasingly inadequate. But, as others have commented, the blow back from the increase in employers’ NI contributions made any meaningful action on AE unlikely in this Parliament. 1/2 Rachel Reeves puts pensions review on hold - on.ft.com/3OWaCPp