From milk-snatching to tablet-snaffling: purging perks makes for clearer pension planning

Back in the early 1970s we had Maggie Thatcher, then Education Secretary, labelled the “Milk Snatcher” for removing free milk for the under-7s. We had it in child-sized glass bottles at school.

Now, the chancellor, Philip Hammond, has become the “iPad Nabber” for taking away employees’ access to discounted iPads and Galaxy Tabs.

Apologies if you’re wondering what I’m on about? One of the more popular benefits under employer salary sacrifice schemes has been the ability to purchase a nice shiny piece of IT hardware (usually a tablet, Notebook or Desktop) with the added bonus of making Tax and NI savings on the purchase price. However, the chancellor has decided to remove the salary sacrifice (tax and NI savings) benefit of doing so. Other salary sacrifice benefits such as Pensions, Childcare Vouchers and Cycle2Work schemes are to remain protected.

For Darren Hedgley’s full blog, click here.

Rory McPherson

Rotation, rotation, rotation

​In the TV show “Location, Location, Location”, hosts Kirstie and Phil try to hunt out bargains for would-be house buyers. Were there to be an investment themed variant of the show, there’d be a case for ditching safer, more expensive assets and sectors in favour of the cheaper, less loved ones.

We subscribe to this view but think that the recent rotation clamour is over-done. Whilst there are better prospects of growth (and diminished risks of global recession), we believe the current rally is displaying signs of over-exuberance and there will be better buying opportunities and entry points in the future.

Read PSigma’s Rory McPherson’s latest blog here.