Monthly Archives: December 2017
PPF echoes #FABI warnings on deficit scaremongering
Sara Protheroe, chief customer officer at the Pension Protection Fund (PPF), has warned IFAs not to use defined benefit (DB) deficits to encourage DB transfers , a message echoing First Actuarial’s repeated calls to the industry to present a … Continue reading
Posted in pensions
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“Cry havoc and let slip the dogs of war”
One of the features of a close-knit community is that people talk to each other. For Steelworkers this has been at works and in clubs. Now the works and clubs of Port Talbot, Llanwern, Scunthorpe and Redcar have digital counterparts in the Facebook pages … Continue reading
Posted in BSPS, pensions
Tagged Al Rush, Aviva, BSPS, Port Talbot, Royal London, tata, Tax
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“You break it – you own it” (Mike Otsuka on “consequences” at USS)
Why employers must pay for the £2.4 bn rise in the USS deficit As USS makes clear, employers are collectively responsible for the increase in the deficit from £5.1 bn to £7.5 bn and the accompanying increase in deficit recovery contributions … Continue reading
Posted in pensions, USS
Tagged Conan Powell, employers, Mike Otsuka, pensions, UCU, USS
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Someone else’s job.
I spoke with a nice fellow last week who had been selling his company’s wares to IFAs in South Wales. The talk at the meeting was all about what was going on with the steelworkers. The fellow came away with … Continue reading
What Al Rush has said to the DWP select committee.
Al has published the following comment to this post on Facebook; I preface his submission with it. Henry and I only went to Port Talbot to gauge what was going on with the British Steel Pension Scheme debacle, and the … Continue reading
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Port Talbot and Scunthorpe IFA CHIVE (Community, Help, Information, Volunteer exchange)- Al Rush
Many of my readers won’t know Al except from what I’ve said about him, he’s not one for the publicity spotlight, but when it comes to mobilising advisers , it’s another story. This is a rare blog from Al published … Continue reading
Steelworkers are “front and centre of my mind”
Over the course of the last 24 hours there have been a number of positive developments for BSPS members. The deadline for decisions taken in “time to choose” has been taken back to 22nd December for all members … Continue reading
Posted in BSPS, pensions
Tagged Active Wealth Management, Al Rush, BSPS, Celtic Wealth, Darren Reynolds, FCA, jo cumbo, Megan Butler, pensions, Port Talbot
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Bart Huby of LCP’s helping members tackle the nastiest, hardest problem in finance
Bart Huby’s asking an existential question of DB pension scheme trustees – “what should your role be in supporting your members as they approach one of the most important decisions in their financial lives?” Bart went to Christ’s Cambridge before joining … Continue reading
You have to be there to fully understand it.
Though it’s a truism – it’s true. You cannot understand the break down in the orderly provision of pensions that is occurring in Port Talbot, until you go there. I did not go to Port Talbot yesterday, there was a … Continue reading