Monthly Archives: September 2012

“The older I get, the less I trust my pension!”


An interesting observation from Gerry Barwell in 140 characters When I interview consumers on AE/ wider pensions – the barrier of mistrust is significant. Less so in the young but for 40+ Which gives us the opportunity to speculate on … Continue reading

Posted in actuaries, annuity, auto-enrolment, CDC, Consolation, pensions, Personal Accounts, Popcorn Pensions, Retail Distribution Review, Retirement | Tagged , , , , , , , | 9 Comments

Why I support Labour’s attack on pension charges


The reactions I’ve read to Ed Milliband‘s “all-out attack on pension charges” have been universally negative. They  range from Robert Burgon’s “open letter to Ed Milliband” condemning the lumping of good and bad together to the broadside from Otto Thorenson of the ABI (linked). All … Continue reading

Posted in annuity, auto-enrolment, Bankers, David Pitt-Watson, dc pensions, defined aspiration, leadership, NEST, pensions, Personal Accounts, Retail Distribution Review, Retirement | 7 Comments

Abusing the voice of the people – a call for better pensions


Evangelists of social media cite the wisdom of the crowd. But wisdom and gullibility are two sides of the same coin and  those who marvel at the capacity of groups to congregate around their chosen solutions, demonize their herd mentality when the crowd looks elsewhere. “Vox … Continue reading

Posted in annuity, auto-enrolment, Change, David Pitt-Watson, dc pensions, defined aspiration, Henry Tapper blog, leadership, NEST, pension playpen, pensions, Personal Accounts | Tagged , , , , , , , | 5 Comments

Can we get our business leaders to bother with pensions?


Our business leaders, a unique band of not more than a couple of thousand men (mostly), have not been leading the debate on workplace pensions. While Steve Webb and the DWP have proclaimed auto-enrolment as a transformational event, those charged … Continue reading

Posted in auto-enrolment, CDC, Change, corporate governance, David Pitt-Watson, dc pensions, de-risking, defined aspiration | Tagged , , , , , , , | 5 Comments

Unlearning the old things


We had a statement from an insurer this morning justifying its position using sections of the Income and Corporation Tax Act (ICTA)1988. This legislation is now 24 years old and has been superseded by many other Acts, notably the Pension Acts of 2004 and … Continue reading

Posted in Change, pensions | Tagged , , , , , , , , , , , , | Leave a comment

Getting CEOs and Chairmen “seriously relaxed” about pensions.


I don’t normally hob nob with FTSE 30  Chairmen so when I met one at a party over the weekend I hit on him about pensions…this is the nub of the conversation Me-What do you know about auto-enrolment? Chairman-My pension person … Continue reading

Posted in auto-enrolment, corporate governance, pensions | Tagged , , , , , , , , , , | 12 Comments

Scale and scalability- why L & G is the cuckoo in the Nest.


NEST is a pensions white-elephant and at £300m, the most expensive animal in the zoo Continue reading

Posted in auto-enrolment, dc pensions, Management, pensions, Personal Accounts, Retirement | Tagged , , , , , , , | 8 Comments

Maybe consumer cynicism about pensions is right..


I want to restore faith in a pensions system we were once proud of. Yesterday I wrote about the Plumbing and Mechanical Services Pension Scheme – which you can read about here. Today I am praising a brilliant pamphlet published by … Continue reading

Posted in dc pensions, defined aspiration, Financial Education, Management, pension playpen, pensions, Retirement | Tagged , , , , , , , | 10 Comments

Plumber’s Pensions are safe with Penny Plumb


It’s been a funny week; my firm, First Actuarial, has “won” a number of awards but we don’t feel particularly elated. As one of my colleagues asked me “do we know what we did right?”. Rewarding people for doing outstanding … Continue reading

Posted in actuaries, annuity, auto-enrolment, dc pensions, defined aspiration, pensions, Personal Accounts, Retirement | Tagged , | 7 Comments

Play Pen golf day – The Photos they did not want you to see


An early morning toast to absent legends GFJ and Dick Stratton Ash Shaw’s pension genius Gareth Burton Classical action from the Play Pen’s most stylish accountant

Posted in Golf, pension playpen | Tagged , , , , | 1 Comment