Monthly Archives: January 2017
In the US, Vanguard sweeps all before it
The latest Morningstar asset-flow figures are frightening They show American investors deserting high-cost active fund management for Vanguard, a predominately passive fund manager with a mutual structure that puts the investor first. Vanguard’s gain is at the ruination of more established … Continue reading
Donald Trump on investment? Oops – it’s the bible
Here’s your bible reading for the day For the kingdom of heaven is as a man travelling into a far country, who called his own servants, and delivered unto them his goods. And unto one he gave five talents, to … Continue reading
Posted in pensions
9 Comments
Pensions and the “Olympic bounce”.
Remember what it was like in the first half of 2012 – Britain was fed up and just as “austerity” was biting, we had the Olympics! We couldn’t afford it, it was a pre financial crisis, it would be disruptive, … Continue reading
Is there really a “fail” at the Royal Mail?
The Royal Mail is consulting with its staff on closing its final salary scheme to future accrual. This is a public consultation, the Royal Mail are putting it to their staff that an increase of pension contributions to 50% … Continue reading
Posted in pensions
Tagged Bonds, de-risking, FABI, Pension Advisers, pensions, Royal Mail, transfers
4 Comments
Transfer values – Con Keating sees a comedy of errors!
This blog is from the pen of Con Keating There has been a spate of requests for quotations of transfer values from DB schemes and much publicity given to some of the more public figures who have taken … Continue reading
Posted in accountants, pensions
Tagged CETV, commutatoin, conract, Discount rate, tax free cash, transfers
2 Comments
Andy Young OBE
Andy Young – an outstanding actuary! One of the less sung OBE’s awarded in this year’s honours was to Andrew Young. Andrew is a friend of mine and a friend to this blog. I am not sure that is this … Continue reading
Transfer heaven or transfer hell?
Saturday kitchen’s binary dilemma informs on the “stampede” for a defined benefit transfer value (CETV). Those who still have this option have been offered as much as 40 times the prospective pension as cash payable to an approved pension. With … Continue reading
Posted in pensions
Tagged advice, Discount rate, FABI, heaven, hell, IFA, pensions, transfer-value
2 Comments
FABI – taking the crisis out of pensions!
It is now three months since we launched our First Actuarial Best estimate Index (or FAB Index for short). It has generated a significant amount of interest amongst our clients and across the wider pensions industry – and has even … Continue reading
Posted in First Actuarial, pensions
Tagged Deficit, Fab Index, FABI, pensions, Pensions Regulator, ppf, PPF7800, solvency, TPR
2 Comments
The Alice in Wonderland world of pension deficits.
FTSE grows, deficits up? The first business day of the month is pension horror month where JLT announce new angles on the disastrous state of our Defined Benefit schemes. Deficits actually fell last month but JLT still managed to report … Continue reading
Posted in accountants, actuaries, pensions
Tagged 7800, Alice in wonderland, Deficits, Fab Index, FABI, IAS 19, Malice in wonderland, Pension deficits, pensions, ppf
5 Comments
Con Keating on the real cost of pension transfers
Imagine buying a bond at par, say a ten-year, ten-percent coupon issue; then let five years pass, when market interest rates decline to one percent. At this time, the bond is trading in the market at £143.68 percent. Now, … Continue reading
Posted in Pension Freedoms, pensions, Retirement, trustee
Tagged Bond, CETV, Con Keating, ppf, Transfer, TV, valuation
5 Comments