What’s that William McGrath up to now? Sweet-talking the Trustee with a lyre and a tablet?
One year off your life – a year on your pension. Windfalls are for sharing
Well said that man – and there’s more
When taxation is retroactive it will change behaviour. Be careful with envy focused legislation promote real solutions to British poor…
Extending time horizons can ease short-term funding pressure, but it shifts risk toward younger members. Reform should make those intergenerational…
I've just come across this letter from Smithers, covering DB pensions in general and the USS in particular. https://smithers.co.uk/extending-the-liabilities-time-horizon-is-key-to-pensions-reform/
Great. A chance to nit-pick something from Steve Webb. The Married Woman’s Option finished in 1977, not 1978. SERPS was…
I was told by the Pensions Service, that if I divorced my husband before I retired, I would get a…
Yes, of course makes perfect sense – we’re facing a cost of living crisis, and it would be a more moral way to use the DB surpluses rather than to line the pockets of the insurers. I’d see it more as a “common good and best interest” review. It would need the actuaries to think more broadly about the societal impact/ good, but I’m sure the maths would work.
The main problem you’d encounter right off will be from the lobbyist who consider now that the rightful end owner/manager of DB funds will be the insurers, and spending the surplus instead on members and sponsors takes it away from the insurers (the sort of places where the PM and many in Govt came from). The flat-earthers at TRP will also need to have a proper remit too, of course.
These are questions that aren’t being asked and they need to be. It’s good that William and team are standing up on this.