TESCO extra pensions

About henry tapper

Founder of the Pension PlayPen,, partner of Stella, father of Olly . I am the Pension Plowman
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1 Response to TESCO extra pensions

  1. George Kirrin says:

    I recall the earlier blog and stand by my original comment then that Sir Terry, a contemporary of mine, stood up for traditional DB pensions.

    I regret that other company directors then and since have been frankly supine in allowing accounting and actuarial standards to mandate that pension schemes should effectively be pre-funded at all times.

    Directors have lost their true and fair view, just as the auditors have, and audits these days merely comply with rules lobbied for by those self-same auditors.

    Actuaries have had a Morris Review (although I do not share FRC’s recent triumphalism marking the Review’s 10th anniversary). Accountants need a similar review, and it’s long overdue.

    Funding assumptions, such as Sir Terry’s “generation” were familiar with, should be made for the long-term and relatively stable. Not spiking all over the place as a result of quantitative easing and captured regulatory capital yields.

    yours aye, George


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