Monthly Archives: January 2018
As Carillion goes bust, First Actuarial shows PPF can take the strain.
Carillion’s dramatic and sudden insolvency is likely to push its 13 defined benefit (DB) schemes, and their 28,000 members, into the Pension Protection Fund (PPF). However, as reports emerge of a combined section 179 (s179) shortfall of as much as … Continue reading
Posted in actuaries, First Actuarial, pensions
Tagged Carillion, Deficits, FABI, pensions
7 Comments
Pensions aren’t on the brink of anything!
I’m sorry to disappoint the headline writers at the BBC, but pensions are not about to change very much, are not in crisis and aren’t really worth the headlines they are getting. Those were the stunning findings of a group … Continue reading
Posted in Blogging, journalism, pensions
Tagged BBC, blogs, music, pensions, Supertramp
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Kevin Wesbroom rebuts Hargreaves Lansdown’s rubbishing of CDC
Hot on the heels of Kevin’s rebuttal of CIDC, here are his comments on Hargreaves Lansdown’s submission to the Work and Pensions select Committee. Kevin is writing in his capacity as a consultant for Aon. His comments are in … Continue reading
Kevin Wesbroom sees some worth in CIDC
Kevin Wesbroom has been a leading pension commentator since the 1980s for Bacon and Woodrow, Hewitt and no Aon. He is a Friend of CDC and writes tellingly on how CDC might work in post-freedom Britain. This is the first … Continue reading
“Of margins and men”. Were the City and Carillion ever friends?
Of all that is being said about the collapse of Carillon, the comment that remains with me is something said by Robin Ellison, in his capacity as in an interview with IPE. The FCA is looking at asset management companies’ … Continue reading
Posted in pensions
Tagged Carillion, covenant, de-risking, Low margins, Margins, pensions, Robin Ellison
2 Comments
Who need’s a factory gate when there’s google
Update***** Update****Update***** Update*****Update*****Update The ad below appeared this morning as the top Google Ad on the search “Carillion pensions”. I asked the FCA and tPR to ask for it to be taken down shortly after and it has been taken … Continue reading
Posted in advice gap, pensions
Tagged BSPS, Carillion, Google, Port Talbot, Scammers, scams
5 Comments
How Facebook works for pensions.
Most people know I use social media a lot – it serves me well and I’m keen to help people less familiar with it, to spend their time profitably. Two years ago I was saying, spend time on Linked in … Continue reading
Terry Pullinger on progress towards a Royal Mail CDC scheme
This video talks of the intent of the CWU to reach an agreement with Royal Mail. “I believe we are on the verge of something very very special”
Don’t panic about Carillion’s pensions.
The fate of Carillion as a company is in the balance. Up to 20,000 jobs are at risk. Bond and equity holders are likely to lose substantial sums. Carillion driven projects are likely to suffer and 28,000 members of Carillion … Continue reading
Posted in pensions, Pensions Regulator, Retirement
Tagged BHS, BSPS, Carillion, Pension Protection Fund, pensions, ppf
8 Comments
CDC and what it means for payroll.
One of the most surprising developments in retail financial services has been the return of with-profits as the way to drawdown a pension. The with-profits drawdown market is owned by the Prudential (though Aviva has recently launched a copycat fund). … Continue reading