Point of view: Ed delivers a speech at the Science Museum in June. Photo: Getty
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Commons Confidential: Ed’s accusing finger

John Woodcock, MP for Barrow and Furness who chairs the Blairite faction, was accused by the wobbly one’s praetorian guard of stirring the pot.

Milibandites point an accusing finger at Labour’s Progress tendency for destabilising tales of plots and supposed letters demanding the head of Ed. John Woodcock, the MP for Barrow and Furness and a former frontbencher who chairs the Blairite faction, was accused by the wobbly one’s praetorian guard of stirring the pot. The intended beneficiary, according to a well-placed snout, is the business-friendly Chuka Umunna, under the spell of Peter Mandelson. Big money is apparently lined up behind an Umunna leadership bid, whenever it comes, with the Progress sugar daddy Lord Sainsbury ready to open a fat chequebook that has been kept shut to Labour since Ed Milibrother beat David. Just because Mil the Younger is now paranoid, that doesn’t mean he isn’t aware of who is out to get him.

Buller Boy Cameron will be desperate to avoid another of his Dave the Sexist blunders at the G20 in Brisbane. TUC general secretary Frances O’Grady is also attending the summit of international leaders. During a session at the World Economic Forum in Davos, the Prime Minister peered into the audience for questions and picked “the lady in the red dress”. The lady in red was O’Grady.

Dave the Sexist’s spinners claimed that the bright lights had blinded their man. This excuse is feasible but couldn’t be deployed after he suggested, with schoolboy innuendo, that Nadine Dorries, the Con MP, was “extremely frustrated” or after he instructed Labour’s Angela Eagle, “Calm down, dear.”

Labour’s deputy leader is unfairly stereotyped as dour. I bring you two further examples of Harriet Harman’s humour. The row over feminist T-shirts that were allegedly made in a Mauritian sweatshop isn’t funny but Harperson raises a laugh at events by quipping that she owns tights older than members of Young Labour. She also claims to have been mistaken several times for the cross-dressing potter Grayson Perry. Only the tribal Harman could be relieved to be confused with a Labour-supporting male artist rather than with Claire Perry, the Tory minister.

I’ve heard a new name mentioned for speaker when John Bercow hangs up his cape. It is that of Stephen Pound, the tattooed Ealing wit. Popular Pound, a former merchant navy seaman and bus conductor, is follically challenged, so the wig that goes with the job may prove a greater inducement than the apartment.

Alan Johnson isn’t interested in a new job, but the former home secretary’s one-time special adviser Mario Dunn has popped up in a new role. Un-Super Mario is spinning for Maximus, the US firm now doing Atos’s old work of assessing the “fitness” of disabled benefit claimants. Nasty work if you can get it. 

Kevin Maguire is the associate editor (politics) of the Daily Mirror

Kevin Maguire is Associate Editor (Politics) on the Daily Mirror and author of our Commons Confidential column on the high politics and low life in Westminster. An award-winning journalist, he is in frequent demand on television and radio and co-authored a book on great parliamentary scandals. He was formerly Chief Reporter on the Guardian and Labour Correspondent on the Daily Telegraph.

This article first appeared in the 13 November 2014 issue of the New Statesman, Nigel Farage: The Arsonist

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Stability is essential to solve the pension problem

The new chancellor must ensure we have a period of stability for pension policymaking in order for everyone to acclimatise to a new era of personal responsibility in retirement, says 

There was a time when retirement seemed to take care of itself. It was normal to work, retire and then receive the state pension plus a company final salary pension, often a fairly generous figure, which also paid out to a spouse or partner on death.

That normality simply doesn’t exist for most people in 2016. There is much less certainty on what retirement looks like. The genesis of these experiences also starts much earlier. As final salary schemes fall out of favour, the UK is reaching a tipping point where savings in ‘defined contribution’ pension schemes become the most prevalent form of traditional retirement saving.

Saving for a ‘pension’ can mean a multitude of different things and the way your savings are organised can make a big difference to whether or not you are able to do what you planned in your later life – and also how your money is treated once you die.

George Osborne established a place for himself in the canon of personal savings policy through the introduction of ‘freedom and choice’ in pensions in 2015. This changed the rules dramatically, and gave pension income a level of public interest it had never seen before. Effectively the policymakers changed the rules, left the ring and took the ropes with them as we entered a new era of personal responsibility in retirement.

But what difference has that made? Have people changed their plans as a result, and what does 'normal' for retirement income look like now?

Old Mutual Wealth has just released. with YouGov, its third detailed survey of how people in the UK are planning their income needs in retirement. What is becoming clear is that 'normal' looks nothing like it did before. People have adjusted and are operating according to a new normal.

In the new normal, people are reliant on multiple sources of income in retirement, including actively using their home, as more people anticipate downsizing to provide some income. 24 per cent of future retirees have said they would consider releasing value from their home in one way or another.

In the new normal, working beyond your state pension age is no longer seen as drudgery. With increasing longevity, the appeal of keeping busy with work has grown. Almost one-third of future retirees are expecting work to provide some of their income in retirement, with just under half suggesting one of the reasons for doing so would be to maintain social interaction.

The new normal means less binary decision-making. Each choice an individual makes along the way becomes critical, and the answers themselves are less obvious. How do you best invest your savings? Where is the best place for a rainy day fund? How do you want to take income in the future and what happens to your assets when you die?

 An abundance of choices to provide answers to the above questions is good, but too much choice can paralyse decision-making. The new normal requires a plan earlier in life.

All the while, policymakers have continued to give people plenty of things to think about. In the past 12 months alone, the previous chancellor deliberated over whether – and how – to cut pension tax relief for higher earners. The ‘pensions-ISA’ system was mooted as the culmination of a project to hand savers complete control over their retirement savings, while also providing a welcome boost to Treasury coffers in the short term.

During her time as pensions minister, Baroness Altmann voiced her support for the current system of taxing pension income, rather than contributions, indicating a split between the DWP and HM Treasury on the matter. Baroness Altmann’s replacement at the DWP is Richard Harrington. It remains to be seen how much influence he will have and on what side of the camp he sits regarding taxing pensions.

Meanwhile, Philip Hammond has entered the Treasury while our new Prime Minister calls for greater unity. Following a tumultuous time for pensions, a change in tone towards greater unity and cross-department collaboration would be very welcome.

In order for everyone to acclimatise properly to the new normal, the new chancellor should commit to a return to a longer-term, strategic approach to pensions policymaking, enabling all parties, from regulators and providers to customers, to make decisions with confidence that the landscape will not continue to shift as fundamentally as it has in recent times.

Steven Levin is CEO of investment platforms at Old Mutual Wealth.

To view all of Old Mutual Wealth’s retirement reports, visit: www.oldmutualwealth.co.uk/ products-and-investments/ pensions/pensions2015/