David Hearne, CFP™ @dontdelay

Certified Financial Planner. Independent Financial Adviser. Retirement Planning, Investment Management and Estate Planning. Posts are personal, and not advice. Maidenhead Joined December 2009

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David Hearne, CFP™ @dontdelay

3 hours ago

@Davouts @MrMBrown If we didn’t borrow how would we meet our annual deficit ?

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David Hearne, CFP™ @dontdelay

3 hours ago

@Davouts @MrMBrown We’re £3 trillion in debt and our borrowing costs are racing towards 6%

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David Hearne, CFP™ @dontdelay

3 hours ago

@Davouts @MrMBrown More and more to the group least likely to be in poverty and already the wealthiest. It’s a plan. Not sure it’s fair one though

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David Hearne, CFP™ @dontdelay

4 hours ago

@Davouts @MrMBrown I’m not saying they don’t deserve having their pensions paid It’s the endless increases that triple locks leads to I think we need to stop

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David Hearne, CFP™ @dontdelay

4 hours ago

@Davouts @MrMBrown As I said though. Current pensioners paid for pensions when it cost less and now receive them when other people are paying them more

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David Hearne, CFP™ @dontdelay

4 hours ago

@DWeller50261 @grok Technically I’d suggest their new cars and international cruises would not meet most people’s definition of poverty

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David Hearne, CFP™ @dontdelay

7 hours ago

I think that's enough X for today.

Hugo's Lair @DWeller50261

9 hours ago

@MartinSLewis @TorstenBell It would be better to raise the personal allowance to £30k for all those over 67.

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@DWeller50261 @grok So why on earth are you proposing a policy that helps them less than the high earning pensioners I do advise ? Lots of wealthy pensioners have low incomes though. Many of my millionaire clients would be considered to be in poverty because their only income is the state pension

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David Hearne, CFP™ @dontdelay

5 hours ago

@DWeller50261 @grok Of all the people who could benefit in this country you’d choose a tax break for already high earning pensioners to benefit the most from. I’m stunned

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David Hearne, CFP™ @dontdelay

5 hours ago

@StephenWayneDa4 Eh?

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David Hearne, CFP™ @dontdelay

4 days ago

Really surprised to see that this case study involves a financial adviser. The theory is good. Married couples should plan as couples, not just two individuals, and they should take advantage of allowances they eachhave even if they are funded by the other. But in this case, they are both high earners, paying higher rates of tax, and therefore entitled to higher rates of tax relief on pension contributions. Rather than him take his income taxed at 40%, to give to her and only get 20% tax relief. They could've just waited until she was working again, and got 40% tax relief, even if the money for the contribution still came from him. I'm sure it's all good PR for Octopus Money, just wondering why they used an example that would likely leave the couple worse off overall.

BBC News (UK) @BBCNews

5 days ago

I asked my husband to pay into my pension when we had a child - here's why bbc.in/4A89hLB

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David Hearne, CFP™ @dontdelay

6 hours ago

@Davouts @MrMBrown You’re looking at the annual cost of one persons pension Not the total cost of paying pensions to pensioners When there were fewer pensioners who didn’t live as long

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David Hearne, CFP™ @dontdelay

7 hours ago

It’s really not that bad We each pay for the next generation. But that’s being seriously stretched right now because of -large post war baby boom generation becoming old -life expectancy increasing -state pension age increased too slowly -generous triple lock increases -falling birth rates But my kids will pay mine And their kids will pay theirs Etc Just not at the ages and rates that we do currently It will likely be later and less. But not nothing Look at the political challenge just to scrap triple lock now. There’ll always be a large enough cohort voting to maintain state pension It’s what else it crowds out I’m worried about for my kids and grandkids

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David Hearne, CFP™ @dontdelay

7 hours ago

@DWeller50261 @grok estimate the cost, in lost tax revenue, of giving everyone in receipt of the state pension a personal allowance of £30,000

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David Hearne, CFP™ @dontdelay

7 hours ago

@DWeller50261 The more benefits and tax breaks the government gives with my wealthy pensioner clients the less they would need to draw from the investments I manage them If you’re trying to accuse of me being self interested, then it’s the opposite

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David Hearne, CFP™ @dontdelay

7 hours ago

@DWeller50261 No. I think it’s a dreadful idea Pensioners are our richest generation They are the least likely group to live in poverty And this would hand the highest earning pensioners an annual tax break of c.£3,500 a year

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David Hearne, CFP™ @dontdelay

7 hours ago

@andrewrileyaca Well exactly. And people may decide not to start drawing on personal pensions becuase it will make their state pension taxable. Which will lead other people to decide its not worth saving into personal pensions. Which will increase the future burden on the state.

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David Hearne, CFP™ @dontdelay

8 hours ago

Open the door now, and you'll struggle to close it later. We have long established tax rates and tax thesholds. But we should not be retrospectivley deciding who has to pay them or not, becuase we've been overly generous in increasing the benefits we pay them.

Martin Lewis @MartinSLewis

14 hours ago

NEWS! Govt's confirmed it WILL keep this promise. I've got a statement from Minister for Pensions @TorstenBell: “In line with the commitment made at Budget 2025, pensioners who only just the exceed the personal allowance will not have the administrative burden of paying small

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David Hearne, CFP™ @dontdelay

7 hours ago

It's what happens after 2031 that's the problem.

John Redwood @johnredwood

4 days ago

Good news the Government Actuary forecasts a surplus for the National Insurance Fund every year up to 2030-2031 to pay the state retirement pension. The problems in the budget include how to pay for the runaway welfare bill, the Bank of England losses, the Chagos give away and