Monthly Archives: August 2018

“The nastiest hardest problem…” Con Keating on pension drawdown

Posted on August 26, 2018 by henry tapper

Con Keating is currently in hospital with a poorly foot. He is a caged tiger on the ward, but the surfeit of energy has been dispelled by his putting his mind to what Bill Sharpe called the nastiest hardest problem in … Continue reading →

Posted in annuity, pensions | Tagged , , , | 4 Comments

Don’t de-risk too early – says Aon!

Posted on August 25, 2018 by henry tapper

I nearly fell off my sofa on Lady Lucy!! While all I’ve been hearing from Aon’s fiduciary unit is the importance of locking down the pension scheme through Liability Driven Investment – fully implemented by Aon, here is the American … Continue reading →

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

By the time I get to Phoenix

Posted on August 24, 2018 by henry tapper

Glen Campbell’s masterpiece is the musing of a man who has left his woman a note on the door – explaining he’s leaving. Each verse tracks his journey through Phoenix, Albuquerque and beyond and how he imagines she’ll wake up … Continue reading →

Posted in pensions | Tagged , , , , , | 5 Comments

Are SIPPs just too complicated?

Posted on August 23, 2018 by henry tapper

  News yesterday  that complaints about SIPPs (Self Invested Personal Pensions) are now upheld by the pension ombudsman more than any other financial product. The number of new complaints to the Financial Ombudsman Service concerning Sipps has nearly doubled in … Continue reading →

Posted in pensions | Tagged , , , , , , | 7 Comments

Are you the Trustee Chair of a DC pension scheme?

Posted on August 22, 2018 by henry tapper

  Facing up to your new duties? If so, you’ll be aware that the DWP have been writing you rules (and the Pensions Regulator enforcing them). Since 2016 you have written an annual chair statement and you will now have to … Continue reading →

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

“Smiling at delinquents”; how we prevail over fund ignorance and indolence

Posted on August 22, 2018 by henry tapper

I had one of those moments just now, when a whole load of things came together and I saw the wood for the trees. My Eureka moment? I was reading an FCA document , the Packaged Retail and Insurance-based Investment Products … Continue reading →

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Fund managers that plead ignorance- display indolence.

Posted on August 21, 2018 by henry tapper

    “Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds’ March year-end statements, according to Lane Clark & Peacock (LCP) research”. (Professional Pensions) Hiring an asset … Continue reading →

Posted in dc pensions, pensions | Tagged , , , , , , , , , , | 6 Comments

Who cares? And how do we pay them?

Posted on August 20, 2018 by henry tapper

News that the Government is mulling a new Care ISA – to be funded from retirement savings will be greeted with joy within the bubble and indifference from the vase majority of people who do not plan for the consequences … Continue reading →

Posted in pensions | Tagged , , , , , , | 6 Comments

Let’s make “Legacy” a thing of the past.

Posted on August 19, 2018 by henry tapper

It’s hard not to feel a twinge of sympathy for Richard Smith. Concur with that. Those working with the 6% don’t. Comments on my document haven’t gone down that well – then again, I wasn’t really expecting it to be … Continue reading →

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Back in the bubble – how the pension industry feeds itself (but no-one else)

Posted on August 18, 2018 by henry tapper

Looking back over the headlines in the trade press, I read a depressing litany of stories about the industry feeding itself. Aegon says it has deep pockets (to compensate financial advisers). It’s chief executive calls its life company (the once … Continue reading →

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