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Highlights
- The UK government has recently decided to raise the female state pension age (SPA), which a recent study has criticised.
- The paper has alerted that care time would fall by 6.3 hours per week with a 30 hours per week hike in work time.
- The UK is reportedly planning to announce a raise in the state pension and welfare payments as a part of next week's budget announcements.
The UK government has recently decided to raise the female state pension age (SPA), criticised by a recent study by researchers from three European universities. The paper has alerted that the female SPA hike could lead to women not caring for their elder relatives. It revealed that care time would fall by 6.3 hours per week with a 30 hours per week hike in work time.
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According to a report called "Should I Care or Should I Work? The Impact of Work on Informal Care, " households' savings would be drained if the state spending didn't go up substantially to replace family care. If affordable, families would have to buy private care. However, if it's unaffordable for families to purchase private care, then the lives of their elders would be threatened.
Along with the decision of female SPA going up by up to six years, the government is also reviewing further pension reforms. A recent Reuters report has revealed that amid the growing inflationary tensions, the UK is reportedly planning to announce a raise in the state pension and welfare payments as a part of next week's budget announcements.
Prime Minister Rishi Sunak would announce the pension reforms and outline the government's fiscal plans in the budget on 17 November to restore investor trust after a devastating mini budget led to a hike in borrowing costs. Amid these developments, UK investors can keep an eye on the following pension-related stocks trading on the London Stock Exchange.
XPS Pensions Group plc (LON: XPS)
The market cap of the UK's leading pension consultant, XPS Pensions Group plc, stood at £259.30 at 10:47 AM (GMT) on Tuesday. At the time of writing, XPS shares were seeing a fall of 1.20%, or 1.50 points, while trading at GBX 123.50. The company's returns stood at -11.79% and -7.14% on an annual and YTD (year to date) basis as of 10 November, respectively. Having a positive EPS (earning per share) of 0.04, the P/E ratio of the group stood at 28.17.
AJ Bell plc (LON: AJB)
The market cap of the UK-based financial company offering pension schemes, AJ Bell plc, stood at £1,416.62 at 10:53 AM (GMT) on Tuesday. At the time of writing, AJB shares were seeing a rise of 0.70%, or 2.40 points, while trading at GBX 347.00. The company's returns stood at -8.28% and -16.29% on annual and YTD basis as of 10 November, respectively. Having a positive EPS of 0.11, the P/E ratio of the group stood at 36.34.
Barclays plc (LON: BARC)
The market cap of the UK's leading bank, which provides its clients with pension services, Barclays plc, stood at £24,480.29 at 10:57 AM (GMT) on Tuesday. At the time of writing, BARC shares were seeing a fall of 0.47%, or 0.74 points, while trading at GBX 153.66. The company's returns stood at -17.82% and -19.12% on annual and YTD basis as of 10 November, respectively. Having a positive EPS of 0.38, the P/E ratio of the group stood at 5.04.
