Money education is perennially put on the back burner. Hence, in middle schools money comes up in the summer term of year six, alongside the cycling proficiency test, the school play and the leavers’ disco.
At secondary school it will be cast into the junk box of ethics or some other space handled by a temporary teacher.
When our children leave school and start work they are baffled by their pay slips and take the first store card thrust at them charging 30 per cent – plus interest.
Politicians and educators should be ashamed of this shambles. Education is supposed to equip young children for life. Where personal finance is concerned most of our schools and the education system in general are failing catastrophically.
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Transfer analysis impact on PPF is for the experts
A new rule coming into force in October will mean that advisers must have specialist knowledge when they assess the potential impact of the Pension Protection Fund (PPF) in defined benefit (DB) transfer analysis.
I must admit to being surprised that this is not already the case.
Surely the PPF must play a key part in any analysis of the transfer from a DB scheme?
Apparently there are fears that some advisers may downplay its benefits. If that is the case then this is clearly a shameful manipulation. Given the reluctance of many advisers to even engage with DB transfers and the fears of future claims of poor advice, it would surely be foolhardy to underplay the PPF.
Tony Hazell writes for the Daily Mail's Money Mail section
