Tom Selby is AJ Bell's Director of Public Policy. He joined the company in 2016 as a Senior Analyst before becoming Head of Retirement Policy. He has a degree in Economics from Newcastle University.
Following his degree, Tom worked for seven years as a journalist specialising in pensions and retirement. He spent almost six years at a leading adviser trade magazine, Money Marketing, initially as a pensions reporter before becoming Head of News in 2014. He has won multiple awards for his role as a financial journalist, and was more recently nominated for Expert of the Year at the 2023 Headlinemoney Awards.
Tom is heavily involved with the PR and external communications teams at AJ Bell. His current role involves direct engagement with senior policy makers in Government and regulators. He also sits on the industry working group for the joint review of advice and guidance boundaries being conducted by the FCA and the Treasury. In the past, Tom has successfully campaigned for a number of consumer-focused reforms, including banning pension cold-calling and increasing pension allowances, and he is passionate about improving outcomes for savers and retirees.
Tom is regularly quoted in national print and broadcast media, including appearances on a weekly BBC Radio London personal finance slot. He has also appeared multiple times on BBC’s MoneyBox as an expert, as well as BBC Radio, BBC News, Sky News and LBC.
14 April 2022
State pension increases by 3.1% …but soaring inflation means retirees will still feel the pinchWhen is a pay rise not really a pay rise? When the cost of the things you buy are increasing by more than the extra cash you’re receiving.
Sadly, that is exactly the position millions of retirees find themselves in as the state pension rises by 3.1% - exactly half the 6.2% CPI inflation figure recorded in February this year.
The reason is that...
21 March 2022
Tax year end retirement tips and traps savers need to know“The end of the tax year is a natural time for people to check they are making use of their annual tax allowances before they expire on 5 April and they shouldn’t forget their pension when doing this,” says Tom Selby, Head of Retirement Policy at AJ Bell.
With the cost of living on the rise, saving for the long-term might feel like a luxury people...
21 March 2022
Tax year end retirement saving options - Pension vs ISA vs LISAThe tax year end on 5 April is a natural catalyst for people to make sure they are making the most of their annual contribution allowances and those saving for retirement have a choice to make between pensions, ISAs and Lifetime ISAs (LISA), with each having different rules, allowances and tax benefits.
For those who are employed and qualify for...
18 March 2022
The rise of the job hoppers: Millennials could each have five pensions on average as employer switches become more commonWhile Baby Boomers born post-World War II might have had only one or two employers in their career – potentially offering generous guaranteed defined benefit (DB) pensions – the younger workforce is increasingly transient.
In fact, the average Millennial – who might be less than halfway through their career - is likely to have changed employer...
11 March 2022
10 big personal finance changes coming in AprilThere are big changes afoot which mean that consumers will face higher taxes, bigger bills and increasing costs from this April. AJ Bell’s Head of Retirement Policy, Tom Selby, looks at some of the key changes we can expect to start hitting UK purses in just a few weeks’ time, and how investors can shield themselves from tax rises.
1. Income tax...
27 August 2021
Over 50s leaving work early could hit retirement plans…and cost the UK economy £88 billionThe early exit of people aged between 50 and state pension age from the workforce has a significant impact on both individual retirement plans and the wider economy. In fact, it could be costing the UK as a whole as much as £88 billion, according to the latest ONS figures.
While in some cases stopping work early will be a voluntary decision – for...
24 June 2021
How mooted pension tax relief reform plans could hit saversRecent press reports suggest the Treasury is eyeing cuts to pension tax incentives to help pay the cost of COVID. Reforms said to be under consideration include introducing a flat rate of pension tax relief, cutting the lifetime allowance or taxing employer contributions.
Beyond the political fire and brimstone a pensions tax raid would cause...
28 May 2021
Inflation is back…but what could it mean for people’s retirement incomes?It’s been a long time since the spectre of inflation has loomed quite as large as it does today.
CPI has doubled in the space of a month and, with the end of lockdown hopefully a month away, there is the real prospect of a ‘Roaring 20s’ spending frenzy in the UK, fuelled in part by people who have managed to save a pile of cash after spending 14...
11 May 2021
Queen’s Speech: What will the Government’s financial services priorities be in 2021 and beyond?The vast health and economic challenges presented by the coronavirus pandemic will inevitably be at the heart of the Queen’s Speech next week. However, there are also significant issues affecting savers which demand attention from the Government in the coming year.
Details on vital interventions set out in the Pension Schemes Act need to be worked...
9 April 2021
Will 'peak pension freedoms season' return after pandemic-induced withdrawals slump in 2020Until 2020, the beginning of a new tax year has traditionally been peak pension withdrawal season, with UK savers taking advantage of a fresh set of tax allowances to access larger amounts from their retirement pots.
In fact, before the pandemic hit withdrawals in the first three months of the financial year had been between 10% and 33% higher...
