Monthly Archives: December 2017

When should pensions be cut in a CDC arrangement? – Con Keating

Or equivalently: how much risk to members’ pensions is there in mutually offered funded pension? The setting is the DB type pension (Cdb) of some fixed proportion of, say, final salary. Typically, for mature schemes these represent amounts which are … Continue reading

Posted in CDC, pensions | Tagged , , | 3 Comments

Why we are still angry about Port Talbot.

It’s the last day of 2017 and a time to look back at the last three months. The small picture is a series of events that have led to a general awareness that something very wrong was going on in … Continue reading

Posted in advice gap, pensions | Tagged , , , , , , , | 2 Comments

Some commercial considerations for CDC

So who’s going to “sell” CDC? What an odd question! I can see the friends of CDC choking over their cornflakes at my asking this question. In the gentile world of policy- it is rarely done to use the “s” word! … Continue reading

Posted in actuaries, advice gap, CDC, pensions | Tagged , , , , , , , | 1 Comment

That’s what Friends (of CDC) are for!

  It is not pleasant to open your phone to find 25 messages directed towards you and your colleagues trolling your work. So thanks to Alan Higham for what I hope is a message if not of support, at least … Continue reading

Posted in pensions | Tagged , , , , , | 1 Comment

“Might young people do well from CDC?” – Con Keating’s thinking on investments.

In a risk-obsessed world, Con Keating observes that it’s its absence of risk-management that could be CDC’s greatest boon to the young. The new member joining a collective DC scheme is contributing marginally to a collective fund. This fund is itself … Continue reading

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Big pension decisions need grounding.

    I am getting worried by the return of the word “systemic”.  It pops up in Andrew Warwick-Thompson’s (otherwise) excellent article “a misunderstood shift” and it’s behind calls from those who know better to “just ban transfers”. It would … Continue reading

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Tell us what value is and we’ll measure it!

  Donny Hay , a client Director at Pitman’s Trustees, argues cogently in this week’s Pension Expert- about recent work by Chris Sier and colleagues the cost assessment template focuses on the numbers, but says nothing about whether those costs represent … Continue reading

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If you can’t be clever – have clever friends

Having clever friends has been the secret to whatever success I’ve had! In my third year at college in 1983, a bloke in specs appeared. His name was David Wilson and he came out drinking with us. He was a … Continue reading

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One man’s solution to his problems with “pension freedoms”

David Neilly is a steelworker who has represented Port Talbot members of BSPS at Parliament.   His words count; we talk of a  pensions “industry” but this is from a man of Ravenscraig and Port Talbot. It is published with … Continue reading

Posted in pensions | 4 Comments

Resisting the irresistible; how do you stop pension transfers?

In my inbox is a powerful statement from a steel-worker in Port Talbot who has suggestions about how transfers from defined benefit schemes are conducted. It asks a fundamental question, if we are seeing such a number of such transfers, … Continue reading

Posted in BSPS, pensions | Tagged , , , | 3 Comments