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Monthly Archives: January 2018
A measured look at Carillion’s pension problems from Adrian Duncan
Carillion Plc (Carillion) Shareholder Dividends vs. Pension Deficit Repair Contributions (DRC) – who is responsible for this mess? I thought it would be useful to use the recent Carillion collapse as a case study in determining the complex problem … Continue reading
BSPS – a big win – but at what cost?
It now seems quite certain that the New British Steel Pension Scheme will happen and that it will be populated by the majority of members of the current British Steel Pension Scheme. In announcing the results of “Time to … Continue reading
Pensions: universities could learn lessons from Royal Mail
David Pitt-Watson and Hari Mann believe there could be a way to settle the ongoing pensions row amicably University employers and university staff are locked in a dispute about pensions. Both have reasonable positions. The employers say that the cost … Continue reading
Posted in pensions, Royal Mail, USS
Tagged CWU, pensions, Royal Mail, trade unions, UCU, USS
3 Comments
PensionBee stands up to the bullies at Aegon.
Let my people go This story begins with an interview between Adrian Grace, CEO of Aegon and Professional Adviser. Grace tells Laura Miller “The old world doesn’t work anymore. We believe that by agitating the market, there will be more … Continue reading
Posted in advice gap, FCA, IGC, pensions
Tagged Adrian Grace, Aegon, IGC, PensionBee, Romi Savova
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No shortage of “pension engagement” at Royal Mail.
Pension people want positive engagement, but when they get it, they ignore it or deride it. On Friday, the CWU announced that an agreement had been reached between CWU and Royal Mail which will now be put to the membership. … Continue reading
Posted in CDC, pensions
Tagged CWU, ft, jo cumbo, pensions, Royal Mail, Terry Pullinger, USS
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The magnitude of the challenge facing University staff – Mike Otsuka
Normally, an employers closing a DB plan for future accrual wouldn’t be that controversial, but our universities aren’t normal employers and these are not normal times, Mike Otsuka gives the background to the impending dispute between the Universities, its staff … Continue reading
Let’s stop pretending guidance is enough.
News that the Government has thrown out proposals for compulsory guidance to protect us from ourselves comes as no surprise to me , though it has clearly angered Ros Altmann. Writing on her blog, the former Pensions Minister writes of the … Continue reading
Posted in advice gap, pensions
Tagged advice, CDC, Guidance, Pension Freedoms, pensions, trust, trustees, Wage for life
7 Comments
The Loch Ness Monster is back (in fact it never went away!)
If you didn’t hear last night’s Radio 4 documentary “the Transparency Detectives”, you can listen to it here. It’s a great piece of work and no praise is to high for Lesley Curwen and her team who tackle the subject … Continue reading
Posted in actuaries, advice gap, IGC, investment, pensions
Tagged IA, Investment Association, Loch Ness Monster, Nessie
1 Comment
The democratisation of risk?
I can’t say I’d heard this phrase before Bruce Porteous of Aberdeen introduced it into conversation at yesterday’s Westminster Business Forum. The only reference I can find to it on the web is a sneering jibe at “Cowboys in Superland” … Continue reading
Posted in CDC, pensions, Trades Union Congress, trustee
Tagged Annuitisation, CDC, democracy, Drawdown, Risk, Terry Pullinger
1 Comment
Trojans – don’t trust that horse!
The TUC on Carillion Pensions. With the failure of Carillion, another corporate collapse leaves thousands of workers with uncertain futures and many may face reduced pensions. There are questions to be asked about the state of Carillion’s myriad pension … Continue reading
Posted in Blogging, journalism, pensions, Trades Union Congress
Tagged Carillion, pensions, Tim Sharp, TUC
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