PensionCraft
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They could have left it at the discretion of investors
November 29, 2025 at 6:57 PM
They could have left it at the discretion of investors
I'm all for that Dave 😁
November 29, 2025 at 12:48 PM
I'm all for that Dave 😁
I hope you're right Eamonn. I think Torsten Bell (Parliamentary Under-Secretary of State for Pensions) is knowledgeable about economics but not investing. This is poor policy and I hope the consultation kills this idea
November 29, 2025 at 10:20 AM
I hope you're right Eamonn. I think Torsten Bell (Parliamentary Under-Secretary of State for Pensions) is knowledgeable about economics but not investing. This is poor policy and I hope the consultation kills this idea
I suppose you might be tempted to hold the risky assets in the Stocks & Shares ISA and the safe investments inside the SIPP but then your pension would suffer lower long-term return. I think this has a lot of unintended consequences and is poorly thought out. And I doubt it will boost growth
November 29, 2025 at 9:31 AM
I suppose you might be tempted to hold the risky assets in the Stocks & Shares ISA and the safe investments inside the SIPP but then your pension would suffer lower long-term return. I think this has a lot of unintended consequences and is poorly thought out. And I doubt it will boost growth
The policy punishes caution and blurs the line between encouraging investment and micromanaging portfolios. No government would dictate the palette of an artist or the notes in a melody. Investors should be free to use the full set of financial ingredients, particularly the safest ones
November 29, 2025 at 8:16 AM
The policy punishes caution and blurs the line between encouraging investment and micromanaging portfolios. No government would dictate the palette of an artist or the notes in a melody. Investors should be free to use the full set of financial ingredients, particularly the safest ones
The irony is painful. A good asset allocation often uses small amounts of cash or MMFs to stabilise the overall mix and improve risk-adjusted returns. This is the logic behind approaches like the Permanent Portfolio. Forcing people to take more risk does not magically create higher long-term returns
November 29, 2025 at 8:16 AM
The irony is painful. A good asset allocation often uses small amounts of cash or MMFs to stabilise the overall mix and improve risk-adjusted returns. This is the logic behind approaches like the Permanent Portfolio. Forcing people to take more risk does not magically create higher long-term returns
Money market funds currently earn roughly base rate and are widely used as a safe parking spot while deciding how to allocate capital. After 2027 they are likely to be reclassified so they cannot sit inside an ISA unless you are over 65. All ISA investors lose their lowest-risk building block
November 29, 2025 at 8:16 AM
Money market funds currently earn roughly base rate and are widely used as a safe parking spot while deciding how to allocate capital. After 2027 they are likely to be reclassified so they cannot sit inside an ISA unless you are over 65. All ISA investors lose their lowest-risk building block
Proposals include penalties on interest earned from cash or cash-like holdings inside a Stocks & Shares ISA, or simply banning these funds for anyone who used the full £12k cash allowance. Platforms may be forced to block MMF purchases unless the money is being actively invested in equities or bonds
November 29, 2025 at 8:16 AM
Proposals include penalties on interest earned from cash or cash-like holdings inside a Stocks & Shares ISA, or simply banning these funds for anyone who used the full £12k cash allowance. Platforms may be forced to block MMF purchases unless the money is being actively invested in equities or bonds
To close that supposed loophole, the Treasury is creating tests to decide whether assets held in a Stocks and Shares ISA are “cash-like.” If the main purpose is capital preservation with returns close to cash, it may fail. Money market funds are the obvious target and almost certain to be captured
November 29, 2025 at 8:16 AM
To close that supposed loophole, the Treasury is creating tests to decide whether assets held in a Stocks and Shares ISA are “cash-like.” If the main purpose is capital preservation with returns close to cash, it may fail. Money market funds are the obvious target and almost certain to be captured
This all comes from the new plan to cap Cash ISA contributions at £12k from April 2027. Ministers want savers to push more money into the “productive economy” rather than leaving it in low-risk cash. But investors could still put £8k into a Stocks and Shares ISA & hold it as cash or cash-like funds
November 29, 2025 at 8:16 AM
This all comes from the new plan to cap Cash ISA contributions at £12k from April 2027. Ministers want savers to push more money into the “productive economy” rather than leaving it in low-risk cash. But investors could still put £8k into a Stocks and Shares ISA & hold it as cash or cash-like funds
Finally, I show some of the PensionCraft tools I used to track intraday moves, talk about how I’m positioning (core vs “fun” portfolio), and then do live Q&A on viewer questions. If you want a calm, investor-focused take on this Budget, the full video is live now 🎥
November 26, 2025 at 8:43 PM
Finally, I show some of the PensionCraft tools I used to track intraday moves, talk about how I’m positioning (core vs “fun” portfolio), and then do live Q&A on viewer questions. If you want a calm, investor-focused take on this Budget, the full video is live now 🎥
Then I dive into the OBR forecasts: growth, inflation, productivity and debt. I explain what their new numbers imply for long-term returns, interest rates and why gilt yields might actually be an opportunity. I show the UK yield curve and how I think about bond ladders
November 26, 2025 at 8:43 PM
Then I dive into the OBR forecasts: growth, inflation, productivity and debt. I explain what their new numbers imply for long-term returns, interest rates and why gilt yields might actually be an opportunity. I show the UK yield curve and how I think about bond ladders
Landlords get their own chapter: how the new rules layer on top of existing changes, what the OBR says about landlord returns, and why so many buy-to-let investors I talk to are exiting. If you’re a landlord or thinking about it, that bit is… sobering
November 26, 2025 at 8:43 PM
Landlords get their own chapter: how the new rules layer on top of existing changes, what the OBR says about landlord returns, and why so many buy-to-let investors I talk to are exiting. If you’re a landlord or thinking about it, that bit is… sobering
I’ve got a tax section on higher dividend tax, higher tax on rental income, the mansion-style property surcharge and frozen thresholds. Not “doom”, but I show clearly who pays more and how wrappers + planning can soften the blow. Useful if you invest outside ISAs/SIPPs
November 26, 2025 at 8:43 PM
I’ve got a tax section on higher dividend tax, higher tax on rental income, the mansion-style property surcharge and frozen thresholds. Not “doom”, but I show clearly who pays more and how wrappers + planning can soften the blow. Useful if you invest outside ISAs/SIPPs
There’s a full pensions segment: what happens to salary sacrifice after the new £2k NI cap, who’s hit, and why the 25% tax-free lump sum surviving matters. I run through examples and how you might rebalance between pensions and ISAs to keep things tax-efficient
November 26, 2025 at 8:43 PM
There’s a full pensions segment: what happens to salary sacrifice after the new £2k NI cap, who’s hit, and why the 25% tax-free lump sum surviving matters. I run through examples and how you might rebalance between pensions and ISAs to keep things tax-efficient
I break down the new ISA rules: the 2027 cash cap, what under-66s vs 66+ can actually do, and practical ways to use stocks & shares ISAs (incl. money market funds) so your strategy still works. If your ISA is mostly cash, you’ll definitely want to see that section
November 26, 2025 at 8:43 PM
I break down the new ISA rules: the 2027 cash cap, what under-66s vs 66+ can actually do, and practical ways to use stocks & shares ISAs (incl. money market funds) so your strategy still works. If your ISA is mostly cash, you’ll definitely want to see that section
All eyes turn to Dec 16. The combined Oct-Nov report will show whether Sept’s rebound marks stability or just a pause in a cooling labour market. With structural shifts, lower job-creation needs, and fading momentum, the coming data may define the narrative heading into 2026
November 20, 2025 at 6:10 PM
All eyes turn to Dec 16. The combined Oct-Nov report will show whether Sept’s rebound marks stability or just a pause in a cooling labour market. With structural shifts, lower job-creation needs, and fading momentum, the coming data may define the narrative heading into 2026
The Fed cut rates in Sept and Oct, but the mixed signals now complicate December. Hawks can point to stronger-than-expected payrolls; doves to a four-year-high 4.4% unemployment rate. With patchy data and rising risk, Powell’s “drive in a fog, slow down” analogy may guide the committee
November 20, 2025 at 6:10 PM
The Fed cut rates in Sept and Oct, but the mixed signals now complicate December. Hawks can point to stronger-than-expected payrolls; doves to a four-year-high 4.4% unemployment rate. With patchy data and rising risk, Powell’s “drive in a fog, slow down” analogy may guide the committee
Structural forces are reshaping demand. AI is displacing routine office roles, immigration tightening is holding back labour supply, and trade uncertainty is chilling small-business hiring. Earlier revisions erased 911k jobs from the prior year, hinting the slowdown has been deeper than thought
November 20, 2025 at 6:10 PM
Structural forces are reshaping demand. AI is displacing routine office roles, immigration tightening is holding back labour supply, and trade uncertainty is chilling small-business hiring. Earlier revisions erased 911k jobs from the prior year, hinting the slowdown has been deeper than thought
The shutdown’s fallout remains severe: the full October report will never be published because the household survey couldn’t be completed. October and November payrolls will instead arrive together on Dec 16—one week after the Fed meets, leaving policymakers flying with limited visibility
November 20, 2025 at 6:10 PM
The shutdown’s fallout remains severe: the full October report will never be published because the household survey couldn’t be completed. October and November payrolls will instead arrive together on Dec 16—one week after the Fed meets, leaving policymakers flying with limited visibility
Wage growth cooled: average hourly earnings rose just $0.09 to $36.67, up 0.2% on the month and 3.8% over the year—softer than expected and easing labour-driven inflation pressure. The mix of rising unemployment and modest pay gains points to a labour market losing heat
November 20, 2025 at 6:10 PM
Wage growth cooled: average hourly earnings rose just $0.09 to $36.67, up 0.2% on the month and 3.8% over the year—softer than expected and easing labour-driven inflation pressure. The mix of rising unemployment and modest pay gains points to a labour market losing heat
Still, long-term unemployment has grown all year, and grads are feeling it: their jobless rate climbed to 2.8% from 2.3% a year ago. AI adoption is cutting entry-level white-collar roles, and economists now estimate the economy needs only 30–50k monthly jobs to keep up with population growth
November 20, 2025 at 6:10 PM
Still, long-term unemployment has grown all year, and grads are feeling it: their jobless rate climbed to 2.8% from 2.3% a year ago. AI adoption is cutting entry-level white-collar roles, and economists now estimate the economy needs only 30–50k monthly jobs to keep up with population growth