Monthly Archives: November 2016
“Nothing” is very much wrong with defined benefit pension schemes.
This week I was asked this question by a civil servant (not directly involved with pensions). Ignorant question: What in regulation or law would prevent a DB pension scheme being valued based on the actual assets as opposed to the … Continue reading
Posted in accountants, actuaries, pensions
Tagged Actuarial, Con Keating, Derek Benstead, Government, nada te turbe, pensions, Wendy Handcock
4 Comments
Power to the people (now we’re taking the risk).
If the People’s Pension , is really the people’s pension, why aren’t the people who are members being told what they are paying for membership? For some months, I have been saying privately to the management and Trustees of … Continue reading
Posted in advice gap, auto-enrolment, pensions
Tagged B&CE, corporate governance, Funds governance, IGC, Index tracker, People's Pension, SSGA, State Street, stock lending, Transparency
2 Comments
Pleasant surprises; Con Keating on the benefits of not being cautious.
The question of the security of DB scheme members’ pensions is among the most vexatious subjects in the realm of pensions. Though volumes have been written, with many contributions clearly heart-felt, belief in some erroneous and fallacious analyses is … Continue reading
Posted in pensions
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“Not so fast!” – the @Aviva #AE conference needs to listen to those not in the room
I spent yesterday morning with Aviva at their future of Auto-Enrolment event in the City. Here’s Aviva’s 10 point wish-list for Auto-Enrolment. ADEQUACY: 1. Phase towards 12.5% contributions by 2028 2. Adopt a flat rate of tax relief – save … Continue reading
Posted in advice gap, auto-enrolment, pensions
Tagged adequacy, auto-enrolement, Aviva, DWP, Engagement, NEST, pensions, Policy, workplace Pensions
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“Let my pension go!” Important news for those in workplace pensions
This morning I got this email from John Yeo at the FCA We have published our final rules on capping early exit charges for consumers eligible to access the Government’s pension reforms from age 55. From 31st … Continue reading
Posted in advice gap, pensions
Tagged consolidation, FCA, internet, pensions, Phoenix, TPR
8 Comments
Is the Green tide stronger than one man?
In the past few days the Paris Treaty has been ratified. One man, Donald Trump, has threatened to put the short term interests of his country above the longer term interests of the globe. Neither we nor his citizens … Continue reading
Posted in actuaries, pensions
Tagged Climate change, Emma Douglas, ESG, Green, HSBC, LGIM, sustainability, Trump, trustees
5 Comments
Shouldn’t Pension Schemes CREATE jobs? #CIPD
News that ballooning pension deficits are hitting profits and leading to hiring freezes is both unwelcome and unacceptable. Pension schemes should be benefiting UK businesses, enabling them to retire those becoming less productive and hire the best new talent. But … Continue reading
Posted in accountants, actuaries, advice gap, pensions
Tagged CIPD, Deficits, defined benefits, FABI, first actuarial, ft, jobs, Kevin Wesbroom, la-la thinking, pensioners, pensions, Ros Altmann
6 Comments
Strange ideas – Con Keating debunks pension’s received wisdom
A number of extremely strange beliefs have emerged in the course of correspondence arising from earlier articles that introduced methods for the evaluation of pension liabilities which do not invoke any external factor. Take the idea of using market prices … Continue reading
Posted in accountants, actuaries, happiness, pensions
Tagged Accrual, Con Keating, FABI, first actuarial, Mercer, pension retulator, pensions, PPF7800
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Is Farage the EU’s US Ambassador?
I am cross with the post US election consensus in British politics. There seems to be a role for Britain “taming” the American right – that starts with neutering Donald Trump. This is total nonsense. Not only is it silly … Continue reading
The risk in “de risking”
Defined benefit pensions are delicate mechanisms designed for the purpose of providing pensions for generations of employees. Decisions taken in the last twenty years first to close DB schemes to new entrants, then to future accrual to current members and … Continue reading
Posted in accountants, advice gap, pensions
Tagged auto enrolment, DB, de-risking, Deficit, defined benefit, FABI, first actuarial, pensions, TPR
5 Comments